Artificial intelligence refers to machines performing tasks that normally require human intelligence, such as recognizing speech, making decisions, and learning from experience. The field of AI was founded in 1956 and has experienced periods of intense research and reduced interest. John McCarthy is considered the father of AI for coining the term. There are several types of AI including machine learning, neural networks, expert systems, computer vision, and natural language processing. AI has many applications across industries like healthcare, finance, and transportation but also faces challenges regarding data privacy, bias, and limitations.