Timeline of artificial intelligence milestones
1937 Claude Shannon proposes that Boolean algebra can be used to model electronic circuits
1943 McCulloch and Pitts recognize that Boolean circuits can be used to model brain signals
1950 Alan Turing develops the Turing Test
1950 Minsky and Edmonds build the first neural network computer (the SNARC)
1956 The term “artificial intelligence” is coined by John McCarthy
1956 Newell and Simon create the Logic Machine
1957 Economist Herbert Simon predicts that computers would defeat humans at chess within the following decade
1958 Frank Rosenblatt introduces a new form of neural network known as “perceptron”
1958 Early genetic algorithms experiments
1959 Arthur Samuels demonstrates that a computer can play checkers better than its creator, and even play against itself to practice
1961 Newell and Simons creates General Problem Solver
1964 Computers understand natural language enough to solve algebraic and word problems
1965 Herbert Dreyfus’ report severely criticises the emerging AI field
1967 Marvin Minsky predicts that within a generation the problem of creating “artificial intelligence” would be solved
1969 Bryson and Ho develop a back propagation algorithm
1971 Terry Winograd’s program SHRDLU answers questions in natural language
1973 UK Lighthill Report ends British government support for AI research
1974 – 1980 First “AI Winter”
1980 Expert Systems, or Knowledge Systems, emerge as a new field within AI
1980s Early part of decade – Benioff and Feynman create Quantum Computing
1982 PlanPower is conceptualized by Applied Expert Systems (APEX)
1982 James Simons starts quant investment firm Renaissance Technologies
1984 American Association for AI coins the term “AI Winter”
1987 Personal Financial Planning System (PFPS) used by Chase Lincoln First Bank
1987 – 1993 Second “AI Winter”
1988 David Shaw founds D.E. Shaw and is an early adopter of AI among its hedge funds
1990s The AI industry shows renewed interest in neural networks
1990 Neural net device reads handwritten digits to determine amounts on bank cheques
1993 FinCen puts FAIS (its AI system) into service to monitor money laundering
1997 Deep Blue defeats Garry Kasparov, world chess champion at the time. IBM’s stock price increases by $18 billion
2005 The DARPA 132-mile challenge sees AI applied to autonomous driving
2007 The DARPA Urban Challenge
2009 Google’s first self-driving car
2010 Flash Crash occurs on 6 May. In 36 minutes, the S&P crashed 8%, before a rebound
2012 On 1 August , Knight Capital loses $440 million 45 minutes after deploying unverified trading software
2014 Man Group starts to use AI to manage client money
2016 Google’s DeepMind AlphaGo applies ML algorithms to win at international Go championship
2017 Two Sigma hedge fund which uses ML, crosses the $50 billion in assets under management
2017 Beijing announces plans to lead the world in AI by 2030
2018 UBS announces development of recommendation algorithms
2018 The Merkel government announces €3 billion will be spent on AI capabilities
2018 President Macron announces that all algorithms developed for government use will be made publicly available
2018 Alibaba announces plans to bring AI chips to market the following year
2018 MiFID II takes effect
2018 GDPR takes effect on 25 May
2018 Baidu becomes the first Chinese tech giant to join a US led consortium on AI safeguards
July 2019 US research group OpenAI to raise $1bn from Microsoft
Aug 2019 Cerebras (an AI start up) develops a processor bigger than iPad to help train AI systems
Sept 2019 Alibaba unveils its first chip designed for AI applications. This is in response to the Chinese government’s call for self-sufficiency in semiconductors
Dec 2019 Sberbank announces it is moving away from core banking activities into more AI related activities