14: Developments in technology Flashcards

1
Q

What is cloud computing?

A

on-demand access via the internet to computing resources, applications, servers, data storage, development tools, networking capabilities, etc.

managed by a cloud services provider

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2
Q

A cloud service has three distinct characteristics:

A
  • sold on demand , typically by minute or hour
  • it is elastic (little or as much use as needed)
  • fully managed by the provider
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3
Q

There are three approaches to cloud computing (… as a service). Name and explain them

A

Software as a service (SaaS):
- access to software over the Internet
- applications hosted and maintained by external providers

Platform as a service (PaaS):
- development environment delivered over Internet
- allows users to build and test software without underlying infrastructure

Infrastructure as a service (IaaS):
- virtual computing resources over Internet
- e.g. storage space, networking

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4
Q

Advantages of cloud computing: (5)

A
  • Cost-effectiveness
  • Flexibility
  • Accessibility
  • Avaliability
  • Automatic software updates
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5
Q

Disadvantages of cloud computing (3)

A
  • Data security
  • Accessibility
  • Cost
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6
Q

What is a digital asset?

A

Any text or media file that is formatted into a binary source and that includes the right to use it

Digital files that do not carry this right are not considered digital assets

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7
Q

What is meant by digital distributed ledger technology (DLT)?

A

encompasses a range of decentralised database systems where transactions are recorded and validated across multiple sites

DLT does not rely on a central authority, enhancing transparency

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8
Q

What is blockchain?

A

Blockchain is a specific form of DLT that records data in a decentralised and immutable manner across multiple nodes

This structure makes it tamper proof and enhances security by removing single points of failure

system that ensures only valid transactions are recorded

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9
Q

What is fintech?

A

Financial technology

Software and other modern technologies used by businesses that provide automated and improved financial services

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10
Q

What are some examples of fintech?

A
  • Digital payment companies (Apple Pay)
  • crowd funding
  • peer-to-peer lending
  • online currency conversion
  • algorithmic stock trading
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11
Q

What is a cryptocurrency?

A

A digital asset that is desgined to function as a medium of exchange and store of value

Operates through a decentralised computer network independent of any central authority and is not regulated

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12
Q

What are the risks of cryptocurrency? (4)

A
  • Volatility
  • Online digital wallets are prone to hacking
  • Difficult to ascertain absolute instrinsic value
  • Provides opportunity for money laundering
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13
Q

What are cognitive technologies?

A

Technologies involving machines that can analyse data to extract patterns and meaning, derive new information and identify strategies on the backing of analysis

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14
Q

What is artificial intelligence (AI)?

A

the creation of advanced computer systems to perform tasks that would typically require human intelligence

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15
Q

What is machine learning?

A

capability of computer systems to learn from and make predictions or decisions based on large volumes of training data, without explicitly being programmed to do so

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16
Q

What is automation?

A

The creation and application of technology to monitor and control the production and delivery of products and services

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17
Q

What is the Robotic Process Automation (RPA)?

A

A software solution that replicates a business process, designed to do a task that would otherwise be performed manually

18
Q

Machine learning decisions are based on what two important aspect of analytics?

A
  • prediction analysis - what will happen
  • prescriptive analysis - what to do
19
Q

What is deep learning?

A

method of processing data in a way that mimics how a brain works

deep learning models can recognise complex patterns in pictures, text, sounds and other data to provide accurate insights and predictions

20
Q

What is generative AI?

A

a branch of AI that is designed to generate new content such as images, text, audio, and video based on patterns learned from a training dataset

21
Q

What is a chatbot?

A

a software application designed to simulate conversation with human users

22
Q

What is meant by transformative technology?

A

The integration of digital technologies into business processes, products, and strategies

23
Q

What is E-procurement?

A

involves the use of internet-based technologies to identify and select suppliers, leading to a wider group of potential suppliers to choose from

24
Q

What is an executive support system (ESS)

A

software that pools data from internal and external sources and makes information avaliable to senior managers in an easy-to-use form

25
Q

What are decision making systems (DSS)?

A

Combines data and analytical models or data analysis tools to support both semi-structured and unstructured decision making

26
Q

What are knowledge work systems (KWS)?

A

Facilitates the creation and integration of new knowledge into an organisation

27
Q

What is an office automation system (OAS)?

A

A system that increases the productivity of data and information workers

28
Q

What are the four types of risk associated with an increase use in technology?

A
  • Obsolescence risk
  • Inexplicability risk
  • Data protection and data bias risk
  • Ethical risks
29
Q

Explain obsolescence risk

A

The risk that businesses invest in expensive new technologies which almost instantly become obsolete

30
Q

Explain inexplicability risk

A

can become too complex for humans to understand

31
Q

Explain data protection and data bias risk

A

Data protection:
- Governed by Data Protection Act 2018

The use of AI means that companies could be tempted to breach these regulations

32
Q

What is cyber-risk?

A

The risk of financial loss, disruption of damage to the reputation or an organisation from its failure of its IT systems

Can be due to accident, breach of security, poor system integrity, cyberattacks

33
Q

What is a cyber attack

A

A cyber-attack is an attempt by anyone to breach the cybersecurity of anyone

34
Q

The National Crime Agency NCA website identifies the following common cyberattacks and threats to computer systems (4 main, 4 less common)

A
  • hacking
  • phising
  • malicious software / hijacker / ransomware
  • DDoS attack
  • webcam manager
  • keylogging
  • screenshot manager
  • ad clicker
35
Q

List some technical controls for cybersecurity (5)

A
  • firewall
  • most secure settings
  • control who has access
  • antivirus
  • software patching / updates
36
Q

According to ICAEW, the following four are the key current threats to an organisations cyber-resilience?

A
  • Ransomware
  • Supply chain attacks
  • Social engineering
  • Other threats
37
Q

List the five cybersecurity standards in the textbook

A

ISO 27001

Cyber essentials

NIST
- National Institute of Standards and Tech

PCI-DSS
- Payment Card Industry Data Security Standard

SOC

38
Q

Examples of Internet of Things

A
  • sensors on machines
  • RFID tags
  • smart metres
39
Q

How to secure a digital asset?

A
  • watermark
  • encryption
  • encoding
40
Q

What is NLP?

A

Natural language processing, used in AI

41
Q

What is computer vision?

A

Allows computers to get information from images, videos and other inputs