The document defines artificial intelligence as a branch of computer science that studies how to develop systems that can perform tasks requiring perception, reasoning, and learning. It discusses the history and methods of AI, including top-down and bottom-up approaches, as well as strong and weak types of AI. Applications of AI discussed include industries like heavy industry, finance, computer science, and aviation. Advantages include not needing sleep and easier copying, while disadvantages include taking a long time to build and lacking emotional understanding. Examples of running projects are mentioned like Deep Blue, NASA systems, and mathematical theorem proving.