Flashcards: The Web, AI, Metaverse, Digital Money, Data Ethics, and Cybersecurity (Weeks 1-8)

A comprehensive set of Q&A flashcards covering data growth, the Web evolution, Big Data, AI, social media, influencers, the Metaverse, digital money and crypto, data ethics, and cybersecurity from Weeks 1–8 notes.

What is the estimated daily data growth in the Data-Driven World?

More than 2.5 quintillion bytes created daily.

Name four major companies that store 1,200+ petabytes of data.

Google, Facebook, Microsoft, and Amazon.

What era are we living in where IT drives the economy?

The Information Age.

List three benefits of data-driven strategies for companies.

Better prediction of consumer needs; more efficient production; more value creation.

What are the main characteristics of Web 1.0?

Read-only, static content, minimal interaction.

What defines Web 2.0 compared to Web 1.0?

Read-write, interactive, rise of blogs and social media.

Name three features of Web 3.0.

Decentralization (blockchain-secured storage), AI & semantics, ubiquity (IoT) and permissionless data sharing.

What characterizes Web 4.0?

Wireless connectivity, mobile-first, improved Web 2.0/3.0 apps.

What is Web 5.0?

Symbiotic web—emotional human-computer interaction.

Differentiate Internet and Web.

Internet is the physical network; Web is applications on the Internet; Data are like vehicles moving between locations.

How is Big Data scale often illustrated?

A byte as a grain of rice; a yottabyte as an Earth-sized rice bowl.

What is Big Data?

Data with greater variety, volume, and velocity.

What are the 5 Vs of Big Data?

Volume, Velocity, Variety, Value, Veracity.

How do Data and Information differ?

Data are unstructured facts; Information is organized, analyzed data used for decision-making.

List the four steps in Big Data processing.

Collect, Process, Clean, Analyze.

What is Data Mining in Big Data Analytics?

Pattern & anomaly detection, clustering.

What is Predictive Analysis?

Forecasting risks/opportunities using historical data.

What is Deep Learning?

AI + ML layered algorithms to mimic human learning.

How does Uber use data?

Tracks usage patterns, focuses services, and sets dynamic pricing (surge).

How does Netflix use data?

Data-driven content creation, recommendation algorithms, viewing-behaviour analysis.

How does Booking.com use data?

Hyperpersonalisation based on location, returning customers, and search preferences.

What happened to Thomas Cook in 2019?

Bankruptcy due to an old analogue model ignoring digital trends.

What is Yunnan Lucky Air known for?

Embraced Web 2.0; online commerce leader in China; growth from $104M to $400M+.

What is DDI in Week 2?

Data-Driven Marketing Innovations—using data and analytics to drive new products, processes, markets.

What value does DDI provide to consumers?

Tailored products/services.

What value does DDI provide to companies?

Competitive advantage, customer retention, process optimisation, market creation.

What are the four stages of the DDI process?

Opportunity Discovery, Opportunity Evaluation, Design Generation, Design Evaluation.

What did Netflix’s House of Cards case illustrate?

Data-led demand prediction leading to a $100M investment.

What did Walmart’s Nappies & Beer case demonstrate?

Product placement guided by purchasing pattern discovery.

What is AI?

Simulation of human intelligence by machines (learn, solve problems).

What are the early milestones of AI (1950s)?

1950—Alan Turing's question 'Can machines think?'; 1955—John McCarthy coined 'AI'.

How has AI begun redefining business?

Automation, cost reduction (e.g., chatbots), cybersecurity improvements, big data analysis, and personalization.

Name key AI applications in Autonomous Vehicles.

Tech: Lidar, radar, cameras, GPS, maps + AI; Example: Google Driverless Car.

Give examples of AI in Social Media.

Facebook: DeepText, auto-translation, facial recognition, chatbots; X/Twitter: NLP; Snapchat: ML+AR filters.

What are AI healthcare applications?

Robotic surgery; Virtual nursing assistants; Diagnosis aid; Admin automation; Image analysis.

When was OpenAI founded and who were involved?

Founded in 2015 by Elon Musk and Sam Altman.

How has GPT evolved?

GPT-1 (2018) → GPT-2 (2019) → GPT-3 (2020).

When was ChatGPT launched and what is it based on?

Launched November 2022; based on GPT-3.5/4.

What are common AI challenges and ethics risks?

Lack of emotion/common sense; overdependence; misuse; unemployment; bias; black-box decisions; unintended consequences.

What are the five AI ethics principles?

Human-Centric & Socially Beneficial; Fair; Explainable & Transparent; Secure & Safe; Accountable.

What are facial recognition concerns illustrated by Clearview AI?

Collected 20+ billion images without consent; fined by UK ICO for privacy violations; highlights regulation and ethics issues.

What is GDPR?

EU General Data Protection Regulation; strict privacy law with global reach and heavy penalties.

What are the main types of social media platforms?

Social networking, microblogging, image/video sharing, instant messaging.

Why is misinformation easy to spread on social media?

No editorial oversight, platforms as main information source, and polarization.

What is digital addiction?

Harmful dependence on digital media/devices; linked to depression and anxiety.

What is the Metaverse (definition)?

A new, immersive, cross-platform internet space combining AR/VR, avatars, and interconnected platforms.

What opportunities does the Metaverse create for business?

Virtual customer interactions, immersive marketing, new business models, and data-driven insights.

Give two notable metaverse investments.

Microsoft: $70B purchase of Activision Blizzard; Google: $39.5B equity fund for metaverse projects.

Why is the Metaverse more feasible now?

Pandemic-driven digital immersion and rising value metrics of social platforms.

Describe a few Metaverse in-action examples.

Gaming with play-to-earn (Axie Infinity); concerts (e.g., Travis Scott in Fortnite); virtual fashion (Nike, RTFKT); education and virtual work.

What are the main metaverse risks and ethical concerns?

Addiction; mental health impact; harassment; moderation challenges; ethics and regulation concerns.

What are the core functions of money?

Medium of exchange; Unit of account; Store of value.

What is cryptocurrency?

Digital asset secured by cryptography; decentralised, peer-to-peer, often blockchain-based.

How does fiat currency differ from cryptocurrency?

Fiat is government-issued and centralized; cryptocurrency is decentralised and P2P.

Why use cryptocurrency?

Fast, secure, low cost; highly portable; decentralised; transparent; resistant to censorship.

What are common risks of cryptocurrency?

Security breaches (hacking); legal protection gaps; high volatility; fraud; traceability concerns.

What are the key points about Bitcoin?

No central issuing authority; supply capped at 21 million; first transaction 10,000 BTC for 2 pizzas; stored in wallets with keys.

How does blockchain work?

Public/private keys create signatures; transactions are authenticated; blocks solved via proof-of-work; consensus adds blocks to chain.

What is the legal status of exchanging crypto?

Generally legal barter; taxes apply; anonymity can enable illicit activity; regulation may evolve.

List pros and cons of cryptocurrency.

Pros: decentralisation, borderless transfers, security & transparency. Cons: digital trace, hacks, volatility, illicit use, limited consumer protection.

What happened with the FTX collapse?

2022: FTT token crashed; massive withdrawals led to liquidity crisis; BTC price fell from ~$20k to ~$16.5k.

What are NFTs?

Non-fungible tokens—unique digital assets (often on Ethereum) representing art, music, collectibles, etc.

What are the five principles of Data Ethics?

Ownership, Transparency, Privacy, Intention, Outcomes.

What is the difference between Law and Ethics?

Law is a system of rules enforced by authorities with legal punishment; Ethics are moral principles guiding conduct with no legal punishment but moral consequences.

What are the five AI ethics principles summarized?

Human-Centric & Socially Beneficial; Fair; Explainable & Transparent; Secure & Safe; Accountable.

Why are biometric data and facial recognition ethically challenging?

Massive biometric databases, potential for surveillance across government and industry, and questions about consent and control.

What are common cyberattacks and why do they matter?

Malware, Phishing, MITM, DoS, Watering Hole; they threaten data, availability, and trust online.