(6.4) Brands and artificial intelligence

Question 1

What is AI?

Answer 1

AI = artificial intelligence > no globally definition, an area of computer science.
Development of intelligent agents that are able to solve problems independentlu, create artifical content autonomously.
> Often related with machine learning

Question 2

What is the difference between AI and ML?

Answer 2

AI = devices designed to act intelligently
ML = developing methods for computers to improve their performance at certain tasks on the basis of observed date > more concrete, seen as subset of AI

Question 3

Explain traditional statistics VS AI/ML statistics

Answer 3

> Traditional: target is the description and understanding of relations
AI/ML: iterative search of the model that describes the observed data best, development of prediction model for new and unknown data

Question 4

What are the types of learning approaches that exist in AI and ML?

Answer 4

• Supervised learning = input and output known, learning from examples so training data, application of models to unknown datasets
• Unsupervised learning = only input known, identification of structures in the data, clustering, reduction of variables
• Reinforcement learning = machine learns a strategy to maximize obtained rewards, applied in permanently changing conditions

Question 5

What is generative AI?

Answer 5

type of AI that can create a wide variety of data, such as images, videos, audio, text, 3D models. It does this by learning patterns from existing data, using this knowledge to generate new and unique outputs.
> GenAI can produce highly realistic and complex content that mimics human creativity, making it a valuable tool for many industries

Question 6

What are benefits and risks for companies using AI?

Answer 6

BENEFITS
- Service operations
- Marketing and sales
- Product and service development

RISKS
- Explainability
- Privacy
- Organizational reputation
- Equity and fairness

Question 7

Explain the strategic model for AI in Marketing

Answer 7

Circle movement between
* Marketing action
> Standardization, personalization, relationalization
> Vb. Automatic prices and payment, personalized pricing, ..

• Marketing research
  > Data collection, market analysis, customer understanding
  > social media text classification, recognizing retail shoppers, facial impression recognition
• Marketing strategy
  > segmentation, targetting, positioning
  > analyse loan requests, targeting online users based on data, creating slogans, ..