Artificial intelligence (AI) is a convergence of hardware, software, and services to carry out computing-based reasoning and understanding like that of the human brain. This process of computing-based reasoning and understanding is known as cognitive computing. The process of creating statistical models and algorithms for cognitive computing is called machine learning. Furthermore, AI hardware consists of servers, storage, and AI chipsets; AI software majorly includes general-purpose cognitive and conversational AI software platforms; and AI services include cloud, simulation, and installation solutions. AI is rapidly penetrating many sectors, namely retail, banking, manufacturing, healthcare, and others.