The advancement of investigation tools and electronic health records (EHR) enables a paradigm shift from guideline‐specific therapy toward patient‐specific precision medicine. The multiparametric and large detailed information necessitates novel analyses to explore the insight of diseases and to aid the diagnosis, monitoring, and outcome prediction. Artificial intelligence (AI), machine learning, and deep learning (DL) provide various models of supervised, or unsupervised algorithms, and sophisticated neural networks to generate predictive models more precisely than conventional ones. The data, application tasks, and algorithms are three key components in AI. Various data formats are available in daily clinical practice of hepatology, including radiological imaging, EHR, liver pathology, data from wearable devices, and multi‐omics measurements. The images of abdominal ultrasonography, computed tomography, and magnetic resonance imaging can be used to predict liver fibrosis, cirrhosis, non‐alcoholic fatty liver disease (NAFLD), and differentiation of benign tumors from hepatocellular carcinoma (HCC). Using EHR, the AI algorithms help predict the diagnosis and outcomes of liver cirrhosis, HCC, NAFLD, portal hypertension, varices, liver transplantation, and acute liver failure. AI helps to predict severity and patterns of fibrosis, steatosis, activity of NAFLD, and survival of HCC by using pathological data. Despite of these high potentials of AI application, data preparation, collection, quality, labeling, and sampling biases of data are major concerns. The selection, evaluation, and validation of algorithms, as well as real‐world application of these AI models, are also challenging. Nevertheless, AI opens the new era of precision medicine in hepatology, which will change our future practice.