Module 1: Unit 1

AUTOMATION

"the technique of making an apparatus, a process, or a system operate automatically." "the creation and application of technology to monitor and control the production and delivery of products and services."

CHATBOTS / VIRTUAL ASSISTANTS

- use the power of two branches of AI, natural language processing and natural language generation, to interact with human users. -They appear on social media feeds, customer service pages and websites to provide conversation, advice and companionship - and they are transforming the way we interact with organisations including utilities companies, adult websites, pizza delivery firms, online stores, banks and even governments.

SELF-DRIVING CARS

-According to the Union of Concerned Scientists ________ in which human drivers are never required to take control to safely operate the vehicle. -they combine sensors and software to control, navigate, and drive the vehicle." -They also stated that the costs and benefits of _______ are still largely hypothetical. More information is needed to fully assess how they'll impact drivers, the economy, equity, and environmental and public health.

SMART HOME

-Amazon echo connects to the Alexa voice to be able to play music, provide information, deliver news and sports scores, tell you the weather, control your smart home and even allow Prime members to order products from Amazon. - In a lot of homes today, they use this device to control different devices inside their homes. As long as the mobile device is connected to the different devices in the house in a single network, people are now able to control their home appliances just by voice recognition.

AUGMENTED REALITY

-Blending of interactive digital elements - like dazzling visual overlays, buzzy haptic feedback, or other sensory projections - into our real-world environments. -Adds digital elements to a live view often by using the camera on a smartphone. Some examples of augmented reality experiences include Snapchat lenses and the game Pokemon Go. à Examples: Pokemon Go, Historical Information, Location based

Internet of things

-allows devices on closed private internet connections to communicate with others -brings those networks together. -It gives the opportunity for devices to communicate not only within close silos but across different networking types and creates a much more connected world."

Neural networks

A neural network is a type of machine learning which models itself after the human brain, creating an artificial neural network that via an algorithm allows the computer to learn by incorporating new data. à While there are plenty of artificial intelligence algorithms these days, neural networks can perform what has been termed deep learning.

Industrial Revolutions

A period of development in the latter half of the 18th century, where there is change from one economy to another.

Neural networks

Handwriting recognition is an example of a real-world problem that can be approached via an artificial neural network. The challenge is that humans can recognize handwriting with simple intuition, but the challenge for computers is each person's handwriting is unique, with different styles, and even different spacing between letters, making it difficult to recognize consistently

Productivity - Cost of Production

If increases in wages are linked to increases in productivity, then workers' wages may also rise (or, at least, their employment prospects may be more secure). Second, increases in productivity diffused throughout the economy have an effect on prices. Increases in productivity tend to lower the _______ precisely because more output can be produced with the same amount of inputs. Since _______tend to be translated into price reductions, increases in productivity eventually tend to reduce prices. Indeed, the introduction of assembly lines made a substantial contribution to the affordability of consumer durables such as the car. The increase in income per head and the reduction in prices allow consumers to be better off.

Productivity - Income

Increases in productivity can lead to higher incomes for an economy's citizens. All output must be transformed, through the process of production and sale, into someone's income (e.g. the boss's profits and the workers' wages). Hence, increases in productivity, which allow more output to be produced by a given amount of inputs, also lead to more income per head, that is, greater wealth for society. For example, if more cars can be produced due to increases in the productivity of car production, more cars are sold, which means that the car manufacturers' revenues increase.

Natural language processing

Interaction between computers and human languages (Wikipedia)

General Purpose Technology (GPT)

It is a technology of wide application used in various industries and whose impact is strong on their functioning.

AUTOMATED DECISION MAKING

It is difficult to analyze and interpret large amounts of data Some companies make decisions without understanding their market helps in analyzing and interpreting data from large amounts of information to make well-informed decisions

SMART WATCHE

People use smart wearables nowadays to easily monitor their health status better instead of going to the doctor and having a checkup every time they do not feel well.

First Industrial Revolution

Started in England during the late 18th century, concentrated in Britain and initially focused on textile manufacturing.

Third Industrial Revolution

Started with the development of transistors and the rise of electronics and digital technology, Internet, rise of electronics, nuclear power, Automation

Labor Productivity

Total output divided by total labour hours in the year

Applied AI and General AI

Two types of AI

TEST AUTOMATION

Used for building testing applications before releasing it to the market Ensures that the applications are working properly the way it should be Reduces number of errors

Machine Learning

While other approaches to developing AI exist, machine learning has largely powered much of the recent leaps and bounds in the field. It is designed to loosely mimic the way humans themselves gather knowledge - through learning. But while humans can pick up patterns or a skill from just a few examples, machines require vast amounts of data.

Hashes

are cryptographic codes created by special algorithms.

ROBOTIC PROCESS AUTOMATION

boosts efficiency, make employees more productive and speed up processes for boosting their efficiency. It is one of the most important applications of AI. You can use it for automating your important tasks. Most of the simple tasks are repetitive. These times can consume a lot of your employee times. You can automate these tasks by using automated tools. tools can scan financial data. It can also enter into the right records and works. Thus, your employees don't need to waste their time scanning through your data. This will allow your employees to focus on other important tasks. will also ensure data consistency. It is impossible to eliminate human errors. If you are using AI technology, then you don't need to worry about errors.

Labor productivity

can be measured as output produced per hour of labor.

LANGUAGE TRANSLATORS

digital tools that use advanced artificial intelligence to not only translate the words that are written or spoken, but also to translate the meaning (and sometimes sentiment) of the message. This results in greater accuracy and fewer misunderstandings than when using simple machine translation.

BIG DATA

helps analyze data more effectively

VIRTUAL REALITY

implies a complete immersion experience that shuts out the physical world.

Industrial revolution

involves technological, socioeconomic, and cultural aspects. It occurs when technological change fundamentally transforms the way in which a society carries out the production and distribution of goods.

à DL

is a further refinement of ML and represents the most cutting edge of AI applications that are being used today.

Price index

is a measure of the average level of prices for some specified set of goods and services, relative to the prices of a specified base period. The most widely used method of constructing an index is based on the notion of the percentage.

à Deep learning

is a subset of machine learning in artificial intelligence (AI) that has networks capable of learning unsupervised from data that is unstructured or unlabeled. Also known as deep neural learning or deep neural network.

à ML

is a subtopic within AI.

à big data

is drawn from sources like social media, internet search engines, e-commerce platforms, and online cinemas, among others.

Innovation

is the commercialization and improvement of the existing products

Invention

is the discovery of new products and processes.

à AI

is the macro topic which encompasses the entire field of study,

Productivity

is the quality of producing something. It is a measure of the efficiency of a person, machine, factory, system, etc., in converting inputs into useful outputs. It is an indication of the efficiency of production or distribution.

Fourth Industrial Revolution

marked by an era of technological revolution that is blurring the lines between the physical, digital and biological spheres

Expert Systems

program that gives answers, solutions, or diagnoses, based on available information, by following procedures that attempt to duplicate the thought processes and apply the knowledge of an expert in some field.

Industry structure

refers mainly to the way in which power is distributed among firms. This can be described by factors such as the number of firms in the industry and the distribution of market shares.

Industrial revolution

refers to eras when rapid and significant technological changes fundamentally alter the way that production is carried out in society, affecting not only how people work but also how they live their lives.

division of labor

refers to the degree to which the various tasks involved in the production of a good or service are divided among different workers.

Product innovations

result in the production of a new product, such as the change from a three-wheel car to a four-wheel car, or the change from LP (Long Play/Playing) records to CDs (Compact Discs). Process innovations increase the efficiency of the methods

BLOCKS

store information about transactions like the date, time, and dollar amount of your most recent purchase from Amazon.

Blocks

store information that distinguishes them from other blocks. Much like you and I have names to distinguish us from one another, each block stores a unique code called a "hash" that allows us to tell it apart from every other block.

Gross Domestic Product

total monetary or market value of all the finished goods and services produced within a country's borders in a specific time period.

General AI

à Created to do ANYTHING à Also termed as True AI, strong AI or Full AI à will do for now since Full AI does not yet exist à is a very different beast, it's an AI that can learn to do different things. Imagine a Phillips screwdriver that can morph into a saw, or a paint brush, or a tape measure. -would be able to learn, plan, reason, communicate in natural language, and integrate all of these skills to apply to any task. (Bullock, 2019) à Machines designed to complete any task which would normally require human intervention.

Applied / Specialized AI

à Created to do ONE thing à Machines designed to complete very specifics tasks like navigating a vehicle, trading stocks, or playing chess (Global FTX) a software app that just does one thing, what that thing depends on which specialized AI app you use (Bullock, 2019) e.g.Siri, Snapchat

MACHINE LEARNING

à Machine Learning is becoming part of the engine behind it, constantly learning and improving from every interaction. It's also behind world-changing advances like detecting cancer, creating new drugs and self-driving cars.

FACIAL RECOGNITION

à an artificial intelligence application form, helps identify a person with their digital image or patterns of their facial features.

MACHINE LEARNING

à process of building machines which can access data, apply algorithms to this data, and then train themselves to deduce valuable insights based on these underlying datasets.

blocks

à store information about who is participating in transactions. A block for your splurge purchase from Amazon would record your name along with Amazon.com, Inc. (AMZN). Instead of using your actual name, your purchase is recorded without any identifying information using a unique "digital signature," sort of like a username.

DEEP LEARNING

à takes artificial intelligence a step further, by mimicking how the human brain works through the use of artificial neural networks. In an artificial neural network, each neuron is charged with providing a binary (yes/no) response to basic questions about a piece of data.

MACHINE LEARNING

à typically used to recognize faces, voice commands, and objects, as well as to translate languages. It has been successfully implemented in chatbots, such as Siri (Apple), Cortana (Microsoft), and Alexa (Amazon).

DATA CENTER INFRASTRUCTURE AND MACHINE LEARNING

Computers are using machine learning to learning new things. Use insights and patterns from collected data It is helping companies in developing better energy-efficient practices. Computers are using _______ to learning new things. They use insights and patterns from data for learning new things. a subset of AI.

First Industrial Revolution

Cort's puddling; rolling process for making iron, Crompton's mule for spinning cotton, Watt steam engine Products, Vegetables, Coal, Iron, Discovery of chemicals, Railroads, Basic farmin, Manual Labor to mechanical, Printed materials

Robotics

Design, construction, and use of machines (robots) to perform tasks done traditionally by human beings (Wikipedia)

Second Industrial Revolution

Development of electricity, Internal-combustion engine, Railway, Chemical industry, Transportation - automobiles, aircrafts, machine-aided equipment, telephone, telegraph