AI is a broad term, referring to algorithms or software designed to imitate the human brain's problem-solving and decision-making functions. AI can be broadly grouped into four segments: Horizontal platforms (tools and solutions for businesses across sectors, $32.4B in 2022, growing at 32.7% CAGR), Vertical applications (tailored to industry-specific problems, $94.0B in 2022, 31.2% CAGR), Autonomous machines (sophisticated systems capable of executing tasks without human control, $41.1B in 2022, 18.9% CAGR), and AI/ML semiconductors (hardware optimised for AI calculations). Example companies include Grammarly, Databricks, GitHub, Indigo, Cruise, and Pony.AI.