Chp 12: Digital Technologies

Question 1

What three steps does supervised AI learning require?

Answer 1

1. Human labelling of input data and definition of output data
2. The algorithm learns to connect inputs to outputs
3. When finished, the algorithm is applied to new data

Question 2

What three steps does unsupervised AI learning require?

Answer 2

1. Algorithm receives unlabelled data
2. Infers some sort of structure
3. Identifies other groups of behaviour with similar behaviours

Question 3

What three steps does reinforcement AI learning require?

Answer 3

1. The algorithm takes an action on data
2. Receives a reward if the action takes it closer to an objective
3. Optimises for the best series of actions by correcting itself over time

Question 4

What are three important features of blockchain?

Answer 4

1. Shared
2. Verified
3. Permanent

Question 5

When thinking about how to deal with digital disruption, what five trends should business leaders focus on?

Answer 5

1. The internet of me - users placed at centre of digital experience
2. Outcome economy - cusotmers attracted to outcomes, not just products
3. The platform (r)evolution - evolution of platforms is speeding up all the time, providing new opportunities
4. The intelligent enterprise - organisations should harness data
5. Workforce reimagined - as AI grows, human resource should be deployed in different ways

Question 6

What are the five different methodologies/approaches to developing digital business models?

Answer 6

1. Scenario-based - in response to trends disrupting the industry
2. Epicentre-based - uses current strengths and weaknesses to create a new model
3. Unorthodox - challenges existing logic and company cliches
4. Customer-centric - builds a model from the customers perspective. Does it meet their needs or solve their problems?
5. Mirrored - creatively imitates business models from other industries

Question 7

What are the five broad types of digital operating models, as suggested by the World Economic Forum (WEF)?

Answer 7

1. Customer-centric - focused on making customers lives easier, with an emphasis on front office processes
2. Extra-frugal - less is more. Optimise manufacturing, supply etc. to provide a high quality service at low cost
3. Data-powered - built around capabilites in data analytics and software intelligence, focus on innovation through experimentation
4. Skynet - dedicated to automation, makes extensive use of machines to increase productivity and flexibility
5. Open and liquid - looks outward to create an ecosystem with enriches the customer proposition

Question 8

What are the seven essential capabilites to creating digital operating models?

Answer 8

1. Sense and interpret disruption - look for wider developments that could disrupt your industry
2. Focus on customer problems - look to solve customers problems
3. Focus on user experience
4. Understand and leverage data
5. Build and maintain a digital team
6. Partner and invest for non-core activites - ecosystem partnerships could be particularly useful here
7. Embed lean start-up principles - eliminate non-value adding expenses; fail fast and often

Question 9

What is the difference between prescriptive and predictive analytics?

Answer 9

Predictive - anticipating what will happen based on patterns in the data

Prescriptive - providing recommendations for what to do to achieve goals