AI is currently a major industry growth area and frequently used as a buzzword, similar to jargon such as 'big data.'
Types of AI
There are various types of AI which can generally be broken down into two categories; Weak AI and Strong AI.
TechnoPedia describes the differences between the two as; "Weak artificial intelligence is a form of AI specifically designed to be focused on a narrow task and to seem very intelligent at it. It contrasts with strong AI, in which an AI is capable of all and any cognitive functions that a human may have, and is in essence no different than a real human mind." 
In popular culture
There are many different ethical concerns related to AI, which can best be understood by plotting them across two axes: time scale and agent vs. subject.