New and emerging technologies Flashcards
what is automation
the process of using automatic equipment such as robots in the workplace instead of humans
advantages of automation
- robots can work faster then humans
- robots can be work with harmful things which humans cant
- robots work with higher accuracy and consistency
disadvantages of robots in automation
- robots may replace humans so there may be fewer jobs
- high initial costs/ expensive
- they cant carry out tasks that require human judgement
what is artificial intelligence
using computer systems to perform tasks that usually require human intelligence
what is smart technology
technology that uses a chip to store information
how is smart technology used in the workplace
they use data to organise tasks without any human input
what is crowdfunding
Involves advertising of a product online. If people think the product will be viable, they then donate money to the product as an investment opportunity. They are often rewarded with gifts, discounts etc if it is successful
what are the people who donate money to crowdfunds called
backers
what is virtual marketing
the promotion of products online
what is algorithm
a sequence of logical instructions for carrying out a task
what are cooperatives
a type of business that is owned and ran by its own memebers
what is fair trade
a trading partnership that ensures workers in developing countries are given suitable working conditions and are paid a fair wage
what are finite resources
resources that are non renewable and will eventually run out
examples of finite resources
Metals, plastics and fossil fuels (coal, natural gas and oil)
advantages of finite resources
easily accessible, cheap