Artificial Intelligence (AI)
AI is the ability of machines to perform tasks that normally need human intelligence – learning, reasoning, understanding language and recognising images. The term was coined by John McCarthy at the Dartmouth conference in 1956. Alan Turing proposed the Turing Test (1950) to judge machine intelligence.
| Term | Meaning |
|---|---|
| Machine Learning (ML) | Subset of AI; systems learn patterns from data instead of being explicitly programmed for every rule |
| Deep Learning | ML using many-layered neural networks; powers image and speech recognition |
| NLP | Natural Language Processing; understanding human language (chatbots, voice assistants, translation) |
| Generative AI | Creates new text, images or code; built on large language models (LLMs) |
| Computer vision | Understanding images and video (face recognition, cheque image scanning) |
| Expert system | Rule-based system copying a human expert's decisions |
| Robotics / RPA | Physical robots / software bots doing repetitive rule-based tasks (data entry, reconciliation) |
Banking uses AI for fraud detection, credit scoring, chatbots (e.g. SBI's SIA) and customer analytics.
Cloud computing
Delivery of computing services – servers, storage, databases, software – over the Internet on a pay-as-you-go basis.
| Service model | Provider gives | User manages | Examples |
|---|---|---|---|
| IaaS (Infrastructure as a Service) | Virtual machines, storage, networks | OS, middleware, apps, data | AWS EC2, Azure Virtual Machines, Google Compute Engine |
| PaaS (Platform as a Service) | Runtime, OS, development tools | Own applications and data | Google App Engine, Heroku, Azure App Service |
| SaaS (Software as a Service) | Complete ready-to-use application | Only usage and settings | Gmail, Microsoft 365, Salesforce, Google Docs |
Deployment models: public cloud (shared, provider-owned), private cloud (one organisation), hybrid cloud (private + public), community cloud (shared by organisations with common needs). Benefits: scalability, lower upfront cost, anywhere access. Concerns: data security, dependence on the Internet, vendor lock-in.
Edge computing processes data near its source (sensors, ATMs) to cut delay; fog computing is a layer between edge and cloud; grid computing links many computers to work on one large task.
Internet of Things (IoT)
A network of physical objects with sensors, software and connectivity that collect and exchange data – smart meters, wearables, smart homes, connected cars, FASTag-style RFID systems. The term is credited to Kevin Ashton (1999). IoT relies on sensors, connectivity (Wi-Fi, Bluetooth, 5G, Zigbee), cloud platforms and analytics.
Blockchain
- A decentralised, distributed ledger: records are grouped in blocks, each linked to the previous one by a cryptographic hash, making tampering very difficult.
- Copies are held by many nodes; new blocks are agreed through consensus (Proof of Work, Proof of Stake).
- Bitcoin – first major application, described in a 2008 white paper by the pseudonymous Satoshi Nakamoto.
- Ethereum (Vitalik Buterin) introduced smart contracts – self-executing code on the blockchain.
- Banking uses: trade finance, cross-border payments, KYC sharing. India's RBI pilots the e-Rupee (CBDC), a digital currency issued by the central bank.
Big Data
Data sets too large or fast for traditional tools. The original 3 Vs: Volume, Velocity, Variety; later additions: Veracity and Value. Tools: Hadoop, Spark. Data analytics turns such data into decisions.
Other emerging technologies
| Technology | Key idea |
|---|---|
| Quantum computing | Uses qubits, which can be in a superposition of 0 and 1; entanglement links qubits |
| Augmented Reality (AR) | Overlays digital content on the real world (Pokémon GO, try-on apps) |
| Virtual Reality (VR) | Fully computer-generated immersive world, usually through a headset |
| Mixed Reality / Metaverse | Blends real and virtual; shared virtual spaces |
| 5G | Fifth-generation mobile network: high speed, very low latency, supports massive IoT |
| 3D printing | Additive manufacturing, building objects layer by layer |
| Digital twin | Virtual copy of a physical system for simulation |
| Cyber-physical systems | Computing tightly integrated with physical processes |