Asian Journal of Economics, Finance and Management

Artificial Intelligence (AI) is defined as a field of science and engineering concerned about the computational comprehension of what's commonly called intelligent behaviour, and with the creation of artefacts that exhibit such behaviour. AI is the subfield of computer science. We are witnessing a lot of transformational change during this age of computation of manufacturing and  processing. The  increase in  consumer  demand  has  affected  major industries throughout the globe. Therefore, the necessity for a catalyst for instigating such hyper changes has been felt by every element involved in such process. The necessity for artificial intelligence has seen a boom in previous couple of years with more funds available for research and development of implementable concepts into acceptable and feasible designs. Although the theme has received a substantial attention over the last years, much has been speculated and little is  understood about  its  impacts  on the  general public administration. Most of  the  people would  agree  that  comparing  humans  and machines isn't so simple and straightforward – although a computer might not excel in abstract reasoning, it has the ability to handle an enormous amount of information much faster than a human brain can do. AI is getting into a well-known field in computer science because it has enhanced the human life in many areas. AI has recently outshined human performance in several domains, and there is great hope that in healthcare. AI may yield better prevention, detection, diagnosis, and treatment of disease. This paper is an effort to understand and provide a comprehensive analysis of how artificial intelligence has developed in recent years and the part it plays in developing and promoting new products and services.