Artificial Intelligence in Business (Week 6) Flashcards
What is Artificial Intelligence (AI)?
Creating systems that can understand their surroundings, make decisions, and take actions to increase their chances of success
Acting Humanly: 6 Key Aspects of AI
–> Natural language processing to communicate
–> Knowledge representation to store what it knows or hears
–> Automated reasoning to answer questions and draw conclusions
–> Machine learning to adapt to new circumstances and detect patterns
–> Computer vision and speech recognition to perceive the world
–> Robotics to manipulate objects and move about.
4 ways to identify intelligence in Digital Tech
–> Acting Humanly
–> Thinking Humanly
–> Thinking Rationally
–> Acting Rationally
Thinking Humanly: 3 ways to understand human thought
–> Introspection: observing thoughts and emotions in action
–> Psychological experiments: observing a person in action
–> Brain imaging: observing a brain in action
Thinking Rationally: The Laws of thought
AI is provided rules for logical reasoning and rational decision-making
Acting Rationally: The Rational Agent Approach
An system is more than just a program—it’s expected to do extra tasks:
–> Act
–> Operate autonomously
–> Perceive their environment
–> Create and pursue goals
–> Adapt to change
–> Persist over time
What is Automation?
Replacing Humans with AI Routinisation
e.g. Chatbots and warehouse logistics
What is Augmentation?
Supporting Humans. Not complete automation
e.g. Medical images diagnoses
Why can AI be opaque?
AI often produces opaque outputs due to complex code, multiple algorithmic components, and evolving parameters. This challenges quantifying its value
AI and Value Creation
AI creates value by optimizing processes, enhancing decision-making, and driving innovation through adaptive learning
