Lecture 14 AI In Organisations

Question 1

What are the four types of analytics?

Answer 1

Descriptive Analytics: Analyzes past data to understand trends and patterns.
Diagnostic Analytics: Investigates why something happened.
Predictive Analytics: Uses data to forecast future events or trends.
Prescriptive Analytics: Suggests actions to take based on predictive analysis.
Note: Predictive and prescriptive analytics are relevant for AI applications.

Question 2

What is Artificial Intelligence (AI)?

Answer 2

: AI is a field of technology that enables machines to mimic human intelligence.

Question 3

What are the different types of AI?

Answer 3

Narrow AI
General AI
Generative AI

Question 4

Narrow AI

Answer 4

Specialized in performing specific tasks (e.g., virtual assistants like Siri).

Question 5

General AI

Answer 5

Hypothetical AI that could perform any intellectual task like a human.

Question 6

Generative AI

Answer 6

Creates new content such as text, images, or music (e.g., ChatGPT, DALL-E).

Question 7

What is a Large Language Model (LLM)?

Answer 7

An LLM is a type of AI trained on massive amounts of data to generate human-like language. ChatGPT is an example of an LLM, trained on extensive data to understand and generate text.

Question 8

What can Generative AI do for us?

Answer 8

Generative AI can create new content, such as:

Text (e.g., writing articles, stories)
Images (e.g., DALL-E creating artwork)
Music (e.g., generating new songs)

Question 9

What are some ethical challenges of Generative AI?

Answer 9

Bias in AI models and data
Misuse of AI-generated content (e.g., deepfakes, misinformation)
Impact on privacy and data security

Question 10

What are some technology concerns with Generative AI?

Answer 10

Lack of transparency in AI decision-making processes
Over-reliance on AI, reducing human creativity or oversight
Technical limitations, such as errors or misunderstandings in AI-generated content

Question 11

What are the regulatory and policy challenges surrounding Generative AI?

Answer 11

Need for clear regulations to govern AI usage
Policies to address ethical, legal, and societal implications
Difficulty in creating global standards for AI deployment

Question 12

What are some economic challenges of Generative AI?

Answer 12

Job displacement due to automation
Economic inequality as AI benefits may be unevenly distributed
Impact on industries like creative sectors (e.g., art, writing, music)