Lecture 8 (Artificial Intelligence & Automation)

Question 1

Explain AI

Answer 1

AI involves the management of computational advancements that reference human intelligence for complex decision making, learning, focusing on autonomy and inscrutability to improve performance and scope.

Question 2

What are the key technologies in AI and how are they beneficial?

Answer 2

The key technologies in AI are as follows:
- Machine Learning: Uses historical data to predict future trends, customer preferences and behaviour.
- Natural Language Processing: Training chatbots to be able to answer user queries in a more human like manner.
- Computer Vision: Allowing systems to see and interpret visual information, used in product scanning and quality control.

The benefits are: It improves operational efficiency, customer satisfaction and user experience.

Question 3

Explain Automation?

Answer 3

Automation is the use of technology to do tasks that would otherwise require frequent human intervention, with a tendency to automate tasks that are codifiable, frequent or repetitive in nature.

Benefits: Improved efficiency, Improved customer experience and Accuracy & Consistency.

Question 4

Briefly summaries the article: Strategic AI Management Berente et al. (2021)

Answer 4

The article was about how organisations are dealing with AI for competitive advantage.

Key points:
- Integration of AI into business processes and decision making as a core part.
- How AI can be a critical driver of competitive advantage & innovation.

Impediment:
- Ethical use of AI
- Integration with existing systems and workflows
- Balancing AI and human intervention

Question 5

Briefly summaries the article on Human- AI collaboration by Bogert et al (2021).

Answer 5

This article was about the increase in dependence on AI for complex decision making.

Key points:
- Detailed exploration of tasks where AI aids human in performing better overall.
- Analysis of effectiveness of AI in tasks of varying complexity leading to increase in trust as AI adapts and learns.

Benefits to E-commerce:
- Improved customer experience
- Help with inventory and logistics management

Question 6

Explain briefly about the article Revolutionising Operations by Hofmann et all. (2020).

Answer 6

This article was about how RPA (robot process automation) is applied to streamline repetitive and routine business processes, enhancing operations efficiency and accuracy. eg: Automation of order processing, customer data management, inventory control.