Artificial intelligence (AI) is a branch of computer science that aims to create intelligent machines that can perform tasks that typically require human intelligence. AI exists when a machine can have human skills like learning, reasoning, and problem solving. The goals of AI include replicating human intelligence, solving knowledge-intensive tasks, and building machines that can perform intelligent tasks like proving theorems, playing chess, or driving a car. AI has advantages like high accuracy, speed, reliability for risky tasks, and creating digital assistants, but also disadvantages like high costs and an inability think outside programmed parameters.