The term artificial intelligence was first coined by John McCarthy, in 1956, during an interdisciplinary workshop of researchers at Dartmouth. This team of researchers developed the concept of “thinking machines”, which included automata theory, complex information processing and cybernetics.
In the mid-to late 50s, General Electric became the first company to purchase a computer to process its payroll system, the UNIVersal Automatic Computer(UNIVAC). UNIVAC ran payroll in all of GE’s factories and stored data on magnetic tape instead of punch cards. The UNIVAC took 40 hours to complete the entire payroll process. During the 60s the U.S. transportation industry developed an electronic data interchanges to standardize transactions between vendors and customers.… Read the rest