Artificial Intelligence (AI) Flashcards
What is Data-driven innovation (DDI)?
The use of data and analytics to devleop or foster new products, processes, organisational methods and markets.
How does Data create value for customers?
Creating products/services tailored to their needs.
How does data create value for companies?
Competitive advantage, customer retention, optimization of processes, market creation
What is the process of analyzing data?
- Opportunity discovery
- Opportunity Evaluation
- Design Generation
- Design Evaluation
What are the different ways data can be analysed?
-Simple analysis of digital footprint
-More complex machine learning
-AI approaches to analysing big data
Define AI
The capacity to learn and solve problems and the simulation of human intelligence by machines giving them the ability to act rationally and solve problems.
How is AI redefining business?
-Understanding big data helps better develop business strategies.
-Personalization of products
-Automation
-Reducing costs
-Improving Cybersecurity
Autonomous vehicles and AI
-Potential to change transportation economics, cutting operational costs and increasing vehicle utilization.
-Road safety will also increase, as AI systems will never be distracted, drive drunk or speed.
AI in healthcare
-AI assisted Robotic surgery
-Virtual Nursing assistants
-Aid clinical judgement or diagnosis
-Workflow and administriative tasks
-Image analysis
Chat GPT and businesses
-Customer support
-Content creation
-Data analysis and Reporting
-Employee productivity
-Personalized customer experience
-Cost reduction
How AI can hinder business
-Lack of human touch and common sense
-Human unemployment
-Absesne of emotions
-Humans might be depending on machines
-Dangerous if in wrong hands
Ethics considerations for AI
-Bias and Fairness
Privacy
Accountability
Transparency
Job Impact
Security
Autonomy
What are the 5 principles of AI ethics?
-Human-centric and Socially Beneficial
-Fair
-Explainable and transparent
-Secure and safe
-Accountable
