Concept:
Peak factor is defined as:
\[
\text{Peak factor}=\frac{\text{Maximum value}}{\text{RMS value}}
\]
Step 1: For sinusoidal AC:
\[
I_{\text{rms}}=\frac{I_m}{\sqrt2}
\]
Step 2: Peak factor:
\[
\frac{I_m}{I_m/\sqrt2}
\]
\[
=\sqrt2
\]
\[
=1.414
\]
Therefore:
\[
\boxed{1.414}
\]