Chapter 2

Question 1

+ new business model (FSICC)

Answer 1

-Flexibility, quick adaptation

-Scalability; escalate quickly without incurring significant expenses

-Innovation, new technologies

-Customer-centric, personalized experiences

-Cost efficient, often rely on shared resources or digital platforms

Question 2

Machine Learning:

Answer 2

Ability of computer algorithms to automatically identify patterns through
data analysis & statistical techniques to learn & generating new rules without step-by-step instructions from
human programmers

Question 3

Blockchain:

Answer 3

Blockchain is a decentralized & transparent digital ledger that records transactions across multiple computers or nodes. It consists of a chain of blocks, where each block contains a list of validated transactions

Question 4

Internet of Things (IoT)

Answer 4

Network of physical objects or groups of objects that are equipped with sensors, processing capabilities, software & other technologies

Question 5

Extended reality:

Answer 5

immersive technologies like Virtual
Reality (VR), Augmented Reality (AR), and Mixed Reality (MR).

Question 6

Robotics:

Answer 6

Field of technology that focuses on design, development, &
implementation of robots. Robots are mechanical or virtual devices that are
programmed to perform tasks autonomously or with human guidance - equipped with sensors

Question 7

+ robotics

Answer 7

• Increased productivity and efficiency (Ability to handle complex tasks with speed & precision, resulting
  higher production rates & reduced errors)
• Enhanced precision & accuracy (higher levels of quality control)
• Cost savings
• Improved safety for workers
• Work continuously without fatigue, enabling extended operational hours
• Optimization of resource allocation & reduction of waste