TECHNOLOGY

Question 1

what is IOT?

Answer 1

Internet of Things (IoT) refers to the idea of connecting everyday objects and devices to the internet.
This allows these objects, like your fridge, car, or even a lightbulb, to collect and share data with each other and with you. So, they can work smarter and make your life easier

For example, a smart thermostat can learn your temperature preferences and adjust the heating or cooling in your home accordingly, all through the internet..

Question 2

what are the benefits of smart home devices?

Answer 2

-remote access, from anywhere in the world. eg. cameras, lights, temperature control.
-energy and cost savings (automatic on off, learning schedules etc)
-easy to use (hands free, voice control)
-enhanced home safety and security (alerts, smoke detectors,cameras, garage doors)
-maintenence monitoring (fridge send notification when maintenence is needed, easy and fast)

Question 3

disadvantages of smart devices?

Answer 3

-expensive
-reliant on internet
-set-up may be time consuming
-compatibility issues may arise
-if manufacturer goes out of business, device may no longer work
-internet can be hacked so there is privacy risk

Question 4

how does technology affect travel industry?

Answer 4

-Online ticket buying and payments
-Online Check-In: Passengers can check in online before arriving at the airport. They can print their boarding passes at home and even select seats and meal options.
-Mobile Check-In: Similar to online check-in, but done on a mobile phone. It provides an electronic boarding pass or a barcode for check-in.
-Automated Baggage Drop: Airports now have automated baggage drop machines. Passengers can weigh luggage, print tags, and place bags on the conveyor without the need for airline staff.

Question 5

benefits of automation at airports

Answer 5

-Cost Savings: Airlines save money on staffed check-in counters.
-convenience: Helps passengers avoid long airport queues., less wait time.
-Handling More Passengers efficiently
-Less Stress: Passengers have fewer airport tasks, making the experience less stressful.
-Improved Service: Staff can focus on better customer service.
-Space Efficiency: Kiosks take up less space than check-in desks, especially helpful with more passengers.

Question 6

disadvantages of airport technology?

Answer 6

Ticket Changes Delay: Changing a flight requires reopening the ticket coupon, which can take time.

Bottlenecks at Busy Times: Self-service bag drops can still face delays during peak airport traffic.

Operational Challenges: Introducing self-service bag drops may pose initial challenges for both airline staff and passengers as they get used to the system.

Safety Concerns: There’s a safety risk, such as children entering the automated conveyor belt. Safety measures include manual emergency stops and sensors to detect intrusions and halt the system for protection.

Question 7

what is smart ticketing in the railway industry?

Answer 7

Smart ticketing uses digital barcode technology
passengers travel with an e-ticket on their phone, rather than a paper ticket.

Question 8

advantages of smart ticketing in railway industry?

Answer 8

Customer convenience:

• avoiding queues
• less likely to lose it
• Multiple tickets can be stored on a single smartphone device, removing the problem of managing multiple paper tickets during a journey which may involve numerous changes.
• better journey planning by displaying the details of the journey.
• ensure a competitive price is paid by automatically selecting the cheapest ticket
  -fewer staff costs
  -can give data about usage

Question 9

disadvantages of smart ticketing in railway industry?

Answer 9

The system could be hacked, resulting in the loss of customer data.
It may be off-putting to those uncomfortable with smartphone technology.
The barcodes on some smartphone tickets can be copied which may facilitate fraud.

Question 10

how is technology used in bus and train industry other than e ticketing?

Answer 10

Bus and train apps showing real time data.
Some travel operators have GPS trackers that transmit location information to apps.
This provides passengers with real time updates about arrival times.

-reduced wait time as they know when they need to leave to arrive at the stop or station in time. The trackers also link to smart signs at the stops themselves ensuring that passengers already waiting know exactly how much longer they will have to wait.

Internet connectivity issues can, however, prevent the system from working correctly, which may cause frustration for passengers.

Question 11

what are the ways technology is used in retail sector?

Answer 11

The retail sector has made significant use of new technology, with developments such as
-self-checkouts
-checkout free shopping
-beacon technology
-chatbots to support online and in-person shopping.

Question 12

what are self checkouts?

Answer 12

SCOs allow customers to complete retail transactions themselves, rather than use a staffed checkout. The customer scans the barcodes on the packaging of each item, places them on a weighing-scale (known as the packing area) and makes payment directly at the machine. A member of staff will be available to supervise and assist where necessary.
mainly found in supermarkets

Question 13

benefits of self checkouts?

Answer 13

-Reduced labour costs: one attendant can supervise multiple checkouts.
-Space saving: SCOs are smaller than traditional checkouts.
-Reduction in the transmission of disease: customers can carry out transactions with no human interaction, minimal physical contact with the system and pay via a contactless bank card or a banking app on a smartphone
-Speed: self-checkout is usually faster than traditional cashier lanes.
-Multilingual: some SCOs operate in several different languages. This is particularly useful in large cities and tourist destinations.

Question 14

disadvantages of self checkouts?

Answer 14

-SCOs are not well designed for use by disabled customers.
-SCOs emit loud, repetitive messages which can be irritating for both staff and customers.
-SCOs make shoplifting easier. In the UK some SCOs combat this by recording and displaying a video of the customer using the machine to help prevent and detect theft.
-Inventory records may become corrupted if customers do not scan correctly – for example, scanning the barcode of a different product that has the same price.

Question 15

what is self scanning

Answer 15

-An alternative to SCOs
-Customers use a portable barcode scanner, or smartphone app, to scan and immediately bag shopping items.
-after shopping, they use a checkout kiosk to download info and pay.
-it’s time saving as customers bag items straight from the shelves, saving time at the checkout.
-It saves space in shops as smaller areas are needed for the checkout kiosks.

Question 16

what is checkout free shopping

Answer 16

Checkout-free shopping means you can pick items in a store and just walk out without waiting in line to pay.
-example is amazon GO. you scan a QR code when you enter. Camera and sensor technology tracks what you take, and you’re automatically charged through an app or card, making shopping quicker and more convenient

disadvantages:
-theft is made easier
-too much reliance on tech means more potential issues like system corruption,downtime.

Question 17

what is beacon technology

Answer 17

Beacon technology is like a small wireless lighthouse in stores. It sends signals to your smartphone when you’re nearby.
These signals can provide information, like discounts, directions, or details about things around you. It helps businesses connect with customers and improve their experience.

Question 18

benefits of beacon technology?

Answer 18

1. Targeted Marketing: Beacons can send discounts or offers when customers are near specific products or stores.
2. Optimized Store Layout: Store layouts can be improved by tracking customer paths and time spent in different areas.
3. Indoor Mapping: Beacons help customers find items within stores through indoor maps.
4. Smart Shopping Lists: Customers can create digital shopping lists, and the app can suggest related items while they shop.
5. Online and In-Store Connection: Beacons bridge the gap between in-store and online experiences, such as offering social media offers and user-generated content.
6. Event Notifications: Beacons can inform nearby shoppers about in-store events, increasing event attendance.

Question 19

Problems with beacon technology?

Answer 19

1. Signal Interference: Beacon signals can be blocked or disrupted by certain materials or other beacons, causing missed or delayed notifications.
2. Notification Overload: Excessive notifications might annoy customers, leading them to turn off notifications permanently.
3. Security Concerns: Beacon systems rely on the internet and can be vulnerable to hacking, potentially compromising customer data.
4. Privacy Worries: Some customers may find beacon technology intrusive and want to protect their personal information.
5. Limited Understanding: Customers may not fully grasp how “location services” work and may lack awareness of beacon usage and their locations.
6. Retailer Tracking: Retailers may want to track all customers, not just those with the app, which has led to the sale of beacon-tracking codes to retailers by app developers.

Question 20

what are chat bots

Answer 20

A chatbot is a software application that conducts on-line conversations with customers. They are designed to replicate human interactions and are increasingly used in the retail industry. They are mostly used via website popups or virtual assistants, however communications with chatbots via retailer apps, text message and instant messaging are on the rise.

Question 21

advantages of chat bots

Answer 21

-24/7 availability for customer contact.
-Chatbots remember user preferences for faster shopping. eg fav coffee brand
-Cross-selling and suggesting additional items.
-Automated order placement.
-In-store assistance for finding products.
-Automated delivery notifications.
-Efficient handling of customer service queries.
-Assisting customer service agents with information.
-Boosting sales through personalized recommendations.
-Quick retrieval of complaint details.
-Multilingual support for better customer experiences.
-Integration with loyalty programs.
-Gathering customer feedback.
-AI analysis for customer satisfaction assessment.

Question 22

disadvantages of chat bots

Answer 22

-Some customers may find the approach impersonal and may not want to deal with a machine.
-Chatbots cannot handle all queries, particularly complex or non-standard queries.
-Conversation can be limited due to the inability to handle multiple questions simultaneously.
-The efficiency and effectiveness may be limited due to typing errors or accents.
-Chatbots struggle with non-linear conversations which jump around an issue.
-Developing chatbots is expensive and time consuming.

Question 23

how is technology used in banking sector?

Answer 23

The banking industry has transitioned from in-person banking to online and mobile banking.

apps give customers the option to check balance, make payments etc
even complicated tasks like opening a new bank account can be done online

Question 24

benefits of technological advancement in banking sector?

Answer 24

-increased efficiency and less reliance on bank branches.
-Offers access to banking information anytime, anywhere.
-Provides real-time financial monitoring.
-instant payments.
-Encourages regular account checking, helps to detect unusual activity.
-less staff needed in branches, saving operational costs.
-Creates more open and spacious bank layouts.
-Decreases wait times in bank queues.

Question 25

disadvantages of banking technology?

Answer 25

-Internet connectivity issues can prevent access to user’s accounts.
-difficult for those not technologically fluent.
-Account numbers can be compromised, because sensitive info on phones
-Privacy may be compromised through facial recognition technologies.
- Individuals may not be happy to have their image recorded, and potentially stored, by the bank.
-Queues in branches may be longer in reality due to the significant reduction of counters.

Question 26

thoughts on the cloud

Answer 26

it is fair to say that the cloud is here to stay, and over the next few years many businesses, and individuals, will become very dependent on it. Indeed, the cloud could fundamentally change the way businesses operate, how entire industries are structured, and how markets are served.

Question 27

what is artificial intelligence

Answer 27

AI means teaching machines to be smart, like humans.
One way to define AI is by saying computers can learn, solve problems, and make decisions, not just follow orders.
It’s like computers using their brains to understand things, analyze data, and learn from it.
AI is used to do tasks that require thinking and learning, like recognizing speech or playing chess.

Question 28

what are algorithms

Answer 28

Algorithms are like sets of instructions that computers follow to solve problems or do tasks.
Think of them as step-by-step recipes for computers.

Question 29

what is the scope of AI

Answer 29

As technology gets better, AI can do more things and become smarter.
Some simple things that AI used to do, like recognizing letters in handwriting, are now so common that we don’t consider them AI anymore. Computers just do them automatically.

Question 30

how can AI be used in the retail industry?

Answer 30

AI is making a big impact on the retail industry, mainly by improving the customer experience in several ways:

1)Customized Shopping Environment: AI helps stores adapt their displays and digital interfaces based on customer interactions, making the shopping experience more tailored to individual preferences.

2)Enhanced Customer Relationships: AI enables retailers to build stronger relationships with customers by understanding their behavior and preferences. It can also facilitate two-way conversations, answer questions, and collect data like facial expressions or voice to better serve customers.

3)Shopping Guidance: AI-powered assistants use customer information to help them make smart buying choices.

4)System Improvements: AI uses customer data, along with market and competitor info, to enhance supply chain planning and pricing strategies.

5)Product Development: Retailers use customer data, including feedback and sentiments, to design products and services that meet current needs and anticipate future ones.

In short, AI is transforming the retail industry by making shopping more personalized and efficient, improving customer relationships, and helping businesses make better decisions

Question 31

how can AI be used in medicine

Answer 31

-AI can analyze huge quantities of patient data.

Diagnosis: Help doctors identify diseases and conditions more accurately from medical images like X-rays and MRIs.

Treatment: Suggest the best treatment plans based on a patient’s medical history and current data.

Drug Discovery: Speed up the process of finding new medicines and analyzing how they work.

Patient Monitoring: Continuously track a patient’s health and alert doctors to any changes.

Administrative Tasks: Handle paperwork and appointments, freeing up time for doctors to focus on patients.

AI makes healthcare more precise, efficient, and accessible.

Question 32

how is AI used in transport

Answer 32

-automatic parking systems.
-self-driving cars.
-traffic management, it can predict and manage traffic to reduce congestion
-assist in route planning, to find quickest most efficient route
-Predictive Maintenance: Identify when vehicles or infrastructure need repairs before they break down.
-Safety: Monitor driver behavior and road conditions to prevent accidents.
-Public Transport: Improve the scheduling and efficiency of buses and trains.

AI helps make transportation safer, more efficient, and convenient.

Question 33

how can AI be used in farming

Answer 33

-Crop Management: Monitor and manage crops by using drones and sensors to check their health and water needs.

-Predictive Analytics: Use data to predict things like crop yields, disease outbreaks, and weather patterns for better decision-making.

-Precision Farming: Apply the right amount of resources like water, fertilizer, and pesticides only where needed, reducing waste.

-Livestock Monitoring: Keep an eye on animals’ health, location, and behavior for better care and productivity.

-Weed and Pest Control: Use AI to identify and manage weeds and pests more effectively.

AI makes farming more efficient, sustainable, and productive.

Question 34

AI use in cybersecurity

Answer 34

AI can be used in cybersecurity to:

-Threat Detection: Spot unusual or suspicious activities in computer networks to catch hackers.

-Pattern Recognition: Identify known patterns of cyberattacks and viruses.

-Automated Response: Quickly respond to threats and take action to stop or mitigate them.

-Password Protection: Enhance password security and access control.

-User Behavior Analysis: Monitor user actions to detect unusual behavior that might indicate a security breach.

AI helps protect computer systems and data from cyberattacks by spotting threats and responding to them faster and more effectively.

Question 35

AI use in HR

Answer 35

AI can be used in HR (Human Resources) to:

-Resume Screening: Quickly scan and analyze job applications to identify qualified candidates.

-Candidate Matching: Match candidates to job openings based on skills and experience.

-Employee Onboarding: Automate paperwork and training processes for new hires.

-Employee Engagement: Analyze employee feedback and behavior to improve workplace satisfaction.

-Performance Evaluation: Use data to assess employee performance and provide feedback.

-Predictive Analytics: Forecast workforce needs and trends for better HR planning.

-Chatbots: Assist employees with common HR inquiries and tasks.

-AI streamlines HR processes, helps find the right talent, and enhances employee experiences.

Question 36

AI in financial investment and trading

Answer 36

AI can be used in financial investment and trading to:

-Market Analysis: Analyze vast amounts of financial data quickly to identify trends and patterns.

-Algorithmic Trading: Execute trades automatically based on predefined strategies, reacting to market changes in milliseconds.

-Risk Management: Assess and manage investment risks by predicting potential losses and recommending adjustments.

-Portfolio Management: Optimize investment portfolios by selecting the best mix of assets based on market conditions and goals.

-Customer Support: Provide personalized investment advice and assistance to clients through AI-powered chatbots.

-Fraud Detection: Detect and prevent fraudulent activities by monitoring transactions and identifying unusual behavior.

AI in financial investment and trading aims to make decisions more data-driven, efficient, and accurate, ultimately improving investment outcomes and customer service.

Question 37

define machine learning

Answer 37

Machine learning is like teaching computers to learn from data without being told exactly what to do.
It’s a bit like how we learn from experience.
These computers can use what they’ve learned to make predictions and suggest actions. It’s a part of artificial intelligence, which is all about making computers smart in different ways.

Question 37

what are the three types of machine learning?

Answer 37

Supervised learning: based on training data and human feedback. This is like teaching a computer by giving it examples with clear answers. For example, showing it lots of pictures of cats and dogs and telling it which is which. It learns from this and can then classify new pictures correctly. eg. also using to develop speech recognition.

Unsupervised learning: In this type, the computer tries to find patterns or similarities in data without being given specific answers. For instance, it might group customers who buy similar things together based on their shopping history.

Reinforcement learning: This is like training a computer through rewards and punishments. It learns by taking actions and getting feedback. It can be useful when we don’t know the exact answers in advance, like teaching a computer to play a game better over time.

there is also self learning

Question 38

what is self learning

Answer 38

Self-learning is when a computer learns on its own without rewards or human help. It makes decisions and even has something like “emotions” to react to what happens because of its choices. This helps it figure out how to achieve its goals while also taking care of its “emotional needs.” It’s like the computer is learning and making decisions by itself, sort of like how people learn from their experiences and feelings.

Question 39

deep learning

Answer 39

Deep learning is a type of machine learning that’s becoming really important. It’s inspired by how our brains work, using networks to understand and process information. Deep learning is great at understanding complicated data and has been used in things like suggesting things you might like to buy online, creating new medicines, and analyzing medical images. It’s also used to make apps that can translate languages.

Question 40

what is Robotics

Answer 40

-Robotics is concerned with the development of machines (called robots) that reproduce human actions and can be used instead of humans.
-All robots have certain basic features in common – mechanical construction, electrical components and computer programming code to guide their actions.
- some need human intervention and others work autonomously.
-robots dont have to look like humans like in movies.

Question 41

uses of robots

Answer 41

-Robots excel at tasks requiring precision and repetition. while humans are good for flexibility and creativity.
-They are ideal for dangerous or challenging jobs, like welding in extreme conditions.
-In manufacturing, robots can save time, materials, and reduce errors, improving productivity.
-Robots are valuable for quality control, detecting and removing faulty parts early in production.
-In medicine, they assist surgeons, making operations more precise with smaller incisions.
-Some robots are designed for household chores like vacuuming.
-Ongoing developments include robots that learn and improve their skills.
-Concerns involve the initial cost, employee training, and safety when working with large, powerful robots.

Question 42

ethical issues related to AI- risk and control

Answer 42

-might make mistakes, like seeing patterns in randomly generated items
-BIASES, may reflect biases of it’s creators
-malicious use more security needed so it can’t be used for bad reasons
-unintended adverse consequences. it may produce what’s required but can’t think about the consequences.
-ultimate control, long term issue, what if they become so intelligent that they start to control humanity.
-job displacement
-over reliance on technology may reduce human skills

Question 43

economic and social consequences of AI

Answer 43

-unemployment if AI use becomes widespread, for artists and clerical people etc.
-distribution of income may not be equal. reward will be concentrated in the hands of ppl who use it effectively will earn more, and have fewer employees.

Question 44

other ethical issues

Answer 44

-it will influence human behavior. eg. video games, might cause addiction (already seen in case of social media) might make people lazier and anti social.
-humane treatmentt, what if bad feedback is causing it to suffer? this is a misconception

Question 45

what is the ethical framework for AI use given by world economic forum?

Answer 45

-create a clear definition of ethics
-when developing AI, keep asking for customer/user feedback
-continuing awareness of bias
-transparency- tell when u are using it, assure customers when their data is being used and why

Question 46

how is IOT relevant to businesses?

Answer 46

businesses should move forward with it, it has potential to gather vast amounts of data.
it has many strategic and operational uses.

Question 47

uses of IOT/ smart devices

Answer 47

Task Assistance:
IoT helps improve specific tasks, such as precision exploration in the oil and gas industry and predicting product shelf life in the food industry.

Efficiency Boost: Smart devices enhance manufacturing operations by preventing bottlenecks and optimizing resource use, like energy management in buildings and water and fertilizer use in agriculture.

Problem Monitoring: IoT devices provide warnings for security issues and enable predictive maintenance to prevent equipment breakdowns.

Strategic Development: In industries like automotive, 3D printers are used for custom tool production, allowing for more tailored product designs.

Question 48

examples of uses of smart devices in medical field

Answer 48

-wearable health trackers, monitor heart rates, activity levels to help keep healthy
-home devices can provide alerts that medical emergencies, such as falls, have occurred.
-remote monitoring of blood pressure and heart rate of patients.
-smart inhalers, medicine dispensers, smart pills etc

Question 49

use of smart devices in transport sector?

Answer 49

traffic cameras, sensors and vehicles’ tracking devices
-can be used for longer-term objectives
-as well as warning motorists of traffic problems ahead.
-can identify the most-frequently taken routes and provide data for decision making.

Question 50

problems of smart devices?

Answer 50

-security is an important concern, if hacked in some cases circumstances could be life threatening
-privacy and data protection regulations are also serious concerns, they are collecting too much info, and getting the ability to predict behavior.
-people are afraid this can be used to control their behavior.
-platform fragmentation: not all apps work on all devices.
-if one device becomes old and stops working, it will become useless. it’s difficult to keep all devices up to date with hw and software.
-expert staff will be needed when technical problems arise.
-sometimes developments focus too much on technology, and not on whether it’s actually relevant for business.
-Old legacy systems may be a particular issue, as businesses may not want to replace all their computer equipment for new devices that can accommodate the IoT.

Question 51

what is the future of IOT?

Answer 51

IoT applications continue to develop across commercial, infrastructure, manufacturing and industrial sectors. They are also increasing in scope, with smart design being built into city planning. For businesses however, it remains difficult to predict the pace at which IoT applications will develop, and whether they will creep into businesses’ environment or suddenly and quickly transform it.

Question 52

why is it important for business to explore new technology

Answer 52

Adopting new technologies such as cloud, mobile, and smart technology is not just a matter of keeping up with trends; it’s a strategic imperative for organizations seeking to thrive in today’s rapidly evolving business landscape. Here’s why exploring these opportunities is crucial from a strategic perspective:

Competitive Advantage: Embracing new technologies allows organizations to gain a competitive edge. Early adopters often lead the way in innovation, which can lead to market dominance. Staying ahead of or at least on par with competitors is essential.

Enhanced Efficiency: New technologies can significantly boost operational efficiency. For example, cloud computing can streamline data storage and processing, while mobile and smart technologies enable real-time decision-making and remote work capabilities, saving time and resources.

Cost Reduction: Leveraging cloud technology can reduce the need for costly on-premises infrastructure. Moreover, smart technologies can optimize resource usage, leading to lower operational costs.

Scalability: Cloud and mobile technologies offer scalability, enabling organizations to expand or downsize resources quickly according to market demand. This agility is a strategic asset.

Improved Customer Experience: Mobile and smart technologies can enhance customer interactions. For instance, mobile apps and smart devices can provide personalized experiences and more convenient access to services, which can lead to higher customer satisfaction and loyalty.

Data-Driven Decision Making: Smart technologies, when integrated with data analytics, provide valuable insights for strategic decision-making. This data can be used for market research, trend analysis, and predicting customer behavior.

Global Reach: Cloud and mobile technologies break down geographical barriers. This can be especially important for organizations with global ambitions, enabling them to reach a broader customer base.

Innovation Culture: Embracing new technologies fosters a culture of innovation within an organization. This mindset encourages employees to explore and implement new ideas and technologies, contributing to long-term growth and adaptability.

Security and Compliance: With the right strategies, these technologies can improve security and compliance. For example, the cloud can offer robust security features, and smart technologies can enhance safety measures within physical spaces.

Environmental Responsibility: Adoption of new technologies can align with sustainability goals. For instance, smart technologies can optimize energy consumption, contributing to a greener, more responsible brand image.

Business Continuity: The cloud can provide robust backup and disaster recovery solutions. In case of unexpected disruptions, such as natural disasters, organizations can continue their operations with minimal downtime.

Talent Attraction and Retention: Tech-savvy professionals are drawn to organizations that embrace modern technologies. Attracting and retaining top talent can significantly impact an organization’s long-term success.

In conclusion, exploring and strategically adopting new technologies is vital for organizations that want to thrive in a dynamic business environment. It provides opportunities for growth, cost savings, innovation, and long-term sustainability. However, the key is to align technology adoption with the organization’s broader strategic goals and to continuously evaluate and adapt to emerging tech trends.