Artificial Intelligence, Blockchain, Internet of Things

Benefits of Cryptocurrency

- eliminates transaction fees - possibilities of micropayments (or small digital payments) that are now impractical because of fees - could be a boon for international commerce, especially for cross-border remittance and in expanding e-commerce in emerging markets - blockchains have no single controlling entity or intermediary where fraud, corruption, damage, hacking, or government shutdown could occur (hence more secure)

How does Bitcoin Work

- transferred from person to person like cash - transactions are recorded in a distributed, decentralized public ledger, known as blockchain - verification and time-stamping of transactions is performed by a pool of users called miners - no one can transfer the asset without a special password called a private key, usually stored in a cryptocurrency wallet, which is really just an encrypted holding place - passwords are virtually impossible to guess, and verification makes sure no one spends the same bitcoins in two places at once

Characteristics of Disruptive Technologies

-First, they come to market with a set of performance attributes that existing customers don't value. -Second, over time the performance attributes improve to the point where they invade established markets.

Transparent/Explainable/Ethical AI

-The "black box" nature of machine learning and deep neural networks, with multi-layered statistical weightings, makes it difficult to understand how the systems make their decisions -The possibility of unintended consequences -Earlier this century, the financial industry used derivative models so complex that they eventually contributed to a global recession-causing crisis

Cryptocurrencies

A digital asset where a secure form of mathematics (cryptography) is used to handle transactions, control the creation of additional units, and verify the transfer of assets.

Neural Networks

AI algorithms that recognize underlying relationships in a set of data through a process that mimics the way the human brain operates (biological neural networks)

Hyper Automation

Can provide global connectivity across the company and create a complete system that (automatically) synchronizes all departments

AI Bias in Face Recognition

Commercial face-recognition systems tend to be more accurate on white male faces than on female or nonwhite faces

Artificial Intelligence

Computer software that can mimic or improve upon functions that would otherwise require human intelligence

Bitcoin Concerns

Consumer benefit needs to be stronger Difficult to understand/use technology Bad reputation (drug dealers, tax evaders, etc.) Firms have struggled under an ambiguous cloud of not knowing how they will be regulated and what legal issues apply Volatility of the value Security

Challenges with AI Projects

Data quality issues and inconsistent data Not enough training data (rare events) AI skills are rare (hundreds of people) Lack of transparency or explainability Need for change management

AI Bias

Since AI systems "learn" based on data, then any biases in dta can become part of the model

IoT Applications

Smart Home systems - Manufacturing - Retail - Restaurants - Agriculture - Healthcare - Transportation - Energy Infrastructure and distribution - public safety - environment

Machine Learning

Software that contains the ability to learn or improve without being explicitly programmed.

Deep Learning

Subset of machine learning which make the computation of multi-layer neural networks feasible

Disruptive Technologies

Technologies that create market shocks and catalyze growth (a.k.a. disruptive innovation). Two characteristics

AI Bias in Word Association

Word association based on Google News articles capture biases inherent in the language data that produces them

The Trolley Problem

You see a runaway trolley moving toward five tied-up (or otherwise incapacitated) people lying on the tracks. You are standing next to a lever that controls a switch. If you pull the lever, the trolley will be redirected onto a side track and the five people on the main track will be saved. However, there is a single person lying on the side track. You have two options: Do nothing and allow the trolley to kill the five people on the main track. Pull the lever, diverting the trolley onto the side track where it will kill one person.

Types of AI Applications

Process automation or RPA Customer insights Customer engagement

Expert Systems

Leverages rules or examples to perform a task in a way that mimics applied human expertise

Enabling Technologies

The deployment of the IoT is based on a handful of enabling technologies. These include communications networks and protocols, hardware devices and components such as sensors, wireless charging technologies and software.

Internet of Things (Iot)

The multiple networks of devices or technology platforms ('things') that communicate with each other via wireless protocols and without direct human interaction

The Singularity

The point where machine intelligence will pass human intelligence

Non-Fungible Tokens (NFTs)

Type of digital asset that use blockchain to document the ownership of items such as images, videos and other collectibles

Blockchain Technology

a distributed and decentralized ledger that records and verifies transactions and ownership

Universal Basic Income (UBI)

government regularly provides money to all citizens without any conditions, work-based or otherwise (a.k.a. negative income tax)

Federal Jobs Guarantee

government would provide a job for anyone that wanted one, to bridge the gap between willing labor and necessary work

Sensors

low powered, wireless microelectronic devices that are designed to monitor a specific physical, electrical, or chemical element and to transmit data on changes in that element over time

Bitcoin

open-source, decentralized payment system that operates in a peer-to-peer environment without bank or central authority