Everyone can see that AI will transform many aspects of business and society in the near term, but how can we separate the substance from the hype and enable strategic decisions about how, when, and whether to integrate AI with each aspect of our businesses?

In this talk, we review what AI systems such as ChatGPT actually do, how they work, where they succeed, and how they fail. We explore how AI can be used to create dialogues, retrieve information, generate structured information, and more. We discuss available commercial AI, including both API-based services and open source AI software. We look forward to how AI technology will develop in the near-term, seeking to understand the strategic business landscape so that we can position our enterprises and our society for success in the new world of AI.