Introduction Artificial Intelligence, also called AI, has already made a significant impact on technology today. It primarily refers to an area of study where systems mimic human cognitive abilities to execute different tasks, such as supporting the sustainable management of the environment by reducing carbon emissions significantly and global greenhouse gas emissions by 4% in 2030. AI also boosts productivity and guarantees a higher GDP. Our understanding of Artificial Intelligence has evolved over the years, and scientists are still at work to explore its scopes. The estimated economic growth of approximately $15 trillion due to artificial intelligence is possible only if responsible AI practices are adopted and integrated across different sectors. The study and implementation of AI can be complex to understand. However, to understand the scope and limitations of artificial intelligence and realize its potential to the fullest, it is crucial to know how scientists classify it. As of 2021, there are seven types of Artificial Intelligence further categorized into two groups. The first category of AI is based on the extent to which a system can replicate human cognitive abilities. It is of four types. An AI-enabled system that is more evolved will be more like humans, while a less evolved AI-enabled system will have limited capabilities compared to humans. The second category of AI is based on a strong foundation of technology. Based on functionality: \t Reactive machines The Reactive machines belong to the earliest types of artificial intelligence systems that kick-started the AI revolution. Their capabilities are limited, and they can perform only basic tasks. It is fascinating to know that despite not having a memory base for their functioning, they have demonstrated abilities akin to a human mind while responding to different simulations. Reactive Machines can respond to an input or a set of inputs. However, they don’t demonstrate any learning and cannot utilize their memory to improve or manage future tasks. \t Limited memory machines They are capable of utilizing previous data to learn and make intelligent decisions. All existing applications that we are familiar with, including virtual assistants, chatbots, and fingerprint scanners, employ limited memory artificial intelligence. They combine the abilities of reactive systems with learning capabilities. The limited memory machines utilize a huge trAIning database which helps these machines analyze, learn, and make improved future decisions. The AI architecture of limited memory systems is more complex than reactive machines. \t Theory of mind The theory of mind has come a long way from using reactive systems to engaging with limited memory systems for all our existing applications. Theory of mind AI will have an exhaustive understanding of the people and things it associates with. It only has theoretical existence as of now. The theory of mind AI will perceive the emotions and thought processes of entities it interacts with leading researchers and professionals with M.Sc. in Artificial Intelligence degree are working to make the theory of mind a reality in the coming future. \t Self-Aware This AI presently exists as a hypothetical system, and it is the ultimate goal of AI researchers to take AI to this stage of advancement. The self-aware AI will be as evolved as the human brain so that it will display self-awareness. Currently, the self-aware AI is still a thing of the distant future. Based on technology \tArtificial narrow intelligence: Often termed as ‘Weak AI’, this is currently used all around the globe and learns from predefined training that data can only demonstrate a narrow range of competencies because it is limited by a set of constraints. \tArtificial general intelligence: This AI can perceive and act almost like humans and pertains to the Theory of Mind AI. A lot of research is being done to develop this type of AI sufficiently to function like humans. \tArtificial superintelligence: This artificial intelligence will be the final achievement in the development of artificial intelligence. It will be overwhelmingly better than human beings in everything they do, including decision-making capabilities. AI superintelligence requires the knowledge of experts with M.Sc. in AI to manage large amounts of data efficiently. Conclusion: Artificial Intelligence has improved the performance and efficiency of many enterprises. Most companies today have realized the potential of AI and are recruiting experts with Master’s degree in AI to reap the benefits of AI. A program in M.Sc. in AI will help you understand the finer details and technical skills required to excel in this field. Artificial Intelligence is here to stay. If you are looking forward to becoming a part of the AI revolution, enroll now in the exceptional Master of Science Degree Programme (specialization in Artificial Intelligence) offered by IU International University of Applied Sciences and become a part of the AI revolution today!