I have done some work in this area. As with previous technologies, calling it artificial intelligence is rather optimistic. Its a very long way human intelligence. The current excitement is around massive improvements to a limited (albeit important) classes of problems in pattern recognition (machine learning) and significant improvements to natural language processing. Its most useful if you have large data sets to train it on which means it is not often a good fit for small businesses. The technologies are being developed (and popularised) by companies lie Google who have massive datasets. At the same time the technologies from the previous waves of AI technologies are being overshadowed. They are still useful - I have things like expert systems in mind (my very first job was developing a prototype expert system so I have a bit of a soft spot for them). Genetic algorithms are closely related to more recent machine learning approaches, but, again are much less popular than they were.