In recent years, AI research has showcased tremendous potential to impact positively humanity and society. Although AI frequently outperforms humans in tasks related to classification and pattern recognition, it continues to face challenges when dealing with complex tasks such as intuitive decision-making, sense disambiguation, sarcasm detection, and narrative understanding, as these require advanced kinds of reasoning, e.g., commonsense reasoning and causal reasoning, which have not been emulated satisfactorily yet. The Seven Pillars for the future of AI address these shortcomings and pave the way for more efficient, scalable, safe and trustworthy AI systems.