Business Innovation and AI Flashcards

Flashcards covering key vocabulary and concepts related to business innovation and artificial intelligence.

Business Innovation

An enterprise’s culture and process for introducing new services or products.

Divergence

Looking at a problem, issues or questions from a different perspective.

Disruptive

New technology or business model that changes existing market.

Ideation

The process of forming ideas from conception to implementation, most often in a business setting.

Incremental

Gradual, continuous improvement on existing products or services.

Innovation

Process of translating an idea into a good or service that creates value for which customers will pay.

Radical

Breakthrough that transforms an industry and /or creates new market.

Sustaining

Significant improvement to maintain existing market share.

Artificial Intelligence

The ability of a computer to do tasks that are usually done by humans because they require human intelligence.

Biases

An anomaly in the output of machine learning algorithms, due to the prejudiced assumptions made during the algorithm development process or prejudices in the training data.

Deep Learning

A type of machine learning, runs inputs through a biologically-inspired neural network architecture.

General AI

Is the intelligence of machines that allows them to comprehend, learn, and perform intellectual tasks much like humans. With General AI, machines can emulate the human mind and behavior to solve any kind of complex problem.

Generative Artificial Intelligence (AI)

Describes algorithms (such as ChatGPT) that can be used to create new content, including audio, code, images, text, simulations, and videos. Fall under the broad category of machine learning.

Hallucinations

Incorrect or misleading results that AI models generate. These errors can be caused by a variety of factors, including insufficient training data, incorrect assumptions made by the model, or biases in the data used to train the model.

Machine Learning

Algorithms that detect patterns and learn how to make predictions, recommendations and decisions.

Narrow AI

Is a specific type of artificial intelligence in which a learning algorithm is designed to perform a single task, and any knowledge gained from performing that task will not automatically be applied to other tasks.

Natural Language

Natural language processing (NLP) refers to the branch of computer science—and more specifically, the branch of artificial intelligence concerned with giving computers the ability to understand text and spoken words in much the same way human beings can.

Neural Networks

This is how the human brain functions: each neuron performs its own simple calculation, and the network formed by all of the neurons multiplies the potential of these calculations.

Supervised Learning

The machine relies on human intervention. The person provides the bases of the machine’s knowledge so it can then understand how to use them and propose improvements, which will be systematically validated by a human before being implemented.

Unsupervised Learning

The machine doesn’t require this human validation component. It performs the research, identifies new knowledge and memorizes it all on its own.