Reference no: EM132282155
Part 1: Answer the following questions
A - Q1. True or False? Today AI is only able to replicate activities and processes that humans can do.
True
False
Q2. True or False? Deep learning is a deeper and multi-layered version of neural networks.
True
False
Unanswered
Q3. Select all that apply. Which of the following are the underlying tools of AI?
Statistics
Semantics
Logics
Cloud
Q4. What is a Co-bot?
A robot that collaborates with humans
A robot that works with other robots
A robot that works at a co-op
A robot that is owned by a company
Q5. Which AI technology tends to be the most common?
Physical robots
Robotic process automation
Natural language processing
Deep Learning
Q6. AI is already being used for which of the following?
Image recognition
Speech recognition
Classification
All of the above
B - Q1. What does it take for an AI to pass the Turing Test?
It must be indistinguishable from a human
It must use a sustainable amount of computing power
It must generate grammatically correct language
It must be self aware
Q2. True or False? Companies often begin using natural language processing internally before they use it with customers.
True
False
Q3. True or False? Chatbots are quickly moving beyond structured interactions to freeform conversation.
True
False
Q4. True or False? A chatbot developed in Sweden has now passed the Turing Test.
True
False
Q5. Select all that apply. Natural Language Processing includes the following pieces.
Speech recognition
Intent Manager
Knowledge Base
Natural language generation
C - Q1. True or False? RPA is good for structured, repeatable tasks which are performed based on rules.
True
False
Q2. Select all that apply. Which of the following are advantages of RPA?
Easy to implement
Fast return on investment
Reduces mundane, unfulfilling jobs
Able to adapt on the fly as rules change
Q3. Rule based systems are usually good for up to how many rules?
10 - 50
100-200
200-500
100+
Q4. True or False? An advantage of rule based systems is their transparency.
True
False
Q5. True or False? Robotic Process Automation is one of the most advanced forms of AI.
True
False
D - Q1. True or False? Machine learning is differentiated from RPA because it can improve performance upon iteration.
True
False
Q2. Select all that apply. Machine learning tasks include:
Prediction
Classification
Calculation
Storage
Q3. True or False? Unsupervised learning is by bar the most common in business.
True
False
Q4. True or False? Supervised learning requires vast amounts of input data.
True
False
Q5. Select all that apply. Which of the following are strengths of machine learning?
Can be faster than humans
Can interpret multiple data types
Outcomes are simple to interpret
Training data is built easily
E - Q1. Which of the following categories make up most of cognitive projects today?
Cognitive Insights
Cognitive Engagement
Robotics and Cognitive Automation
Q2. Select all that apply. Identifying credit fraud in real time is an example of...
Cognitive Insights
Cognitive Engagement
Robotics and Cognitive Automation
Navigation
Q3. True or False? Companies cite headcount reduction as one of the primary goals of automation.
True
False
Q4. True or False? At MD Anderson, they found that moonshots were as successful as the low hanging fruit.
True
False
Q5. Select all that apply. What are some steps to becoming an AI driven company?
Begin with small steps and low hanging fruit
Focus on augmenting humans
Plan some moonshots
Get the right talent to build AI capability
F - Q1. True or False? Platforms usually have machine learning at the core of their business.
True
False
Q2. By 2016, Alphabet used machine learning in about how many projects?
95
300
1000
2700
Q3. True or False? Facebook uses AI exclusively to identify images and speech that are not appropriate for the site.
True
False
Q4. True or False? Machine learning helps platforms scale with lower headcount than other business models.
True
False
Q5. Jeff Bezos says that the primary use of machine learning at Amazon is...
Sourcing innovative new products
Quietly improving operations
Adding robotics to warehouses
Shifting into new markets
G - Q1. Alternative data makes up what percent of the value of the S and P 500?
More than 80%
Between 60-80%
Between 40-60%
Less than 40%
Q2. Select all that apply. Which of the following are examples of alternative data?
Patents created
Customer sentiment
Stock performance
Plant, property, and equipment
Q3. Select all that apply. Which of the following are likely sources for alternative data?
Social media
Internet of things
Financial reports
Customer interviews
Q4. True or false? GAAP accounting is a primary source of traditional data.
True
False
Q5. True or false? The most interesting AI applications are using alternative data.
True
False
H - Q1. True or false? Managing data is the biggest piece of most AI initiatives.
True
False
Q2. True or false? Companies can easily differentiate their AI by applying new algorithms to standard data sets.
True
False
Q3. True or false? The regulations around data usage are simple and intuitive.
True
False
Q4. Select all that apply.Which of the following problems would be taken care of during the data cleaning process?
Outliers in the data
Blank fields in the data
Sourcing the data
Redundancies in the data
Q5. Select all that apply. A good data manager will be an expert at which of the following?
Cleaning datasets and storing data sets
Managing data security and compliance
Finding alternative sources of data
Brainstorming ways to use data for your business
I - Q1. True or false? AI is important for both physical and digital business models.
True
False
Q2. True or false? Each business unit in a company should build out their own AI team.
True
False
Q3. True or false? Using data to optimize your current processes will result in a new business model.
True
False
Q4. What new machine learning technology has improved AI performance?
Deep learning / neural networks
Logistic regression
Lasso regularization
Decision trees
Q5. Which of the following strategies will help build a platform business?
Digitize the products you offer to customers
Improve your current processes with software
Create an ecosystem of partners
Hire strategy consultants
J - Q1. Select all that apply. Which of the following are key components for platform business models?
Networks
Artificial intelligence
Data
ERP systems
Q2. What percent of the market leverages a platform business model?
Less than 10%
10-20%
20-30%
30-40%
Q3. True or False? Platform business models are differentiated by multi-sided revenue models.
True
False
Q4. True or False? Service and Manufacturing are the oldest business models.
True
False
Q5. True or False? Only startups can participate in the platform market.
True
False
K - Q1. True or False? Accounting methods have historically prioritized tangible assets over intangible.
True
False
Q2. True or False? Platforms make greater use of intangible assets compared to other business models.
True
False
Q3. True or False? People are more scalable than technology.
True
False
Q4. Select all that apply. Which of the following are examples of companies based on physical assets?
Accenture
Ford
Wal-Mart
Alphabet
Q5. Select all that apply. WWhich of the following industries tend to focus on technological assets?
Biotechnology
Manufacturing
Consulting
Software
L - Q1. Select all that apply. Which of the following are revenue models commonly utilized by platforms?
Selling advertising on the platform
Selling data generated by the platform
Taking a share of transactions
Charging for access
Q2. Which types of companies have the highest price to revenue ratios on average?
Things
People
Money
Platform
Q3. True or False? People based businesses make use of the network effect.
True
False
Q4. True or False? Platform businesses are characterized by slow, but steady growth.
True
False
Q5. True or False? Of all the business models, technology companies tend to be the most profitable.
True
False
Part 2: Business study
The business study consists of five capstone exercises. The assumptions in this business study are as follows:
1. Company: Armed Forces
2. Work field: Logistics
3. Since the company is (Armed Forces) which is non-profit organization, the business study should be realistic in its context.
4. This assignment is done as part of Artificial Intelligence course.
5. All above assumptions shall apply for all five capstone exercises.
6. The answers for all capstone exercises should be descriptive and reflect the reality.
Capstone Exercise 1: PIVOT - Pinpoint
The goal of Pinpoint is to understand your organization's starting point. We will examine your firm's strategy from several different viewpoints.
Mental Models
Which of the five assets do you and other leaders in your organization view as the most valuable?
- Things - physical goods like products, manufacturing plants, stores, and inventory
- People - employees and service providers
- Money - financial products
- Technology - software and intellectual property like patents
- Platforms - connections and networks
Revenue Streams
Which of the five assets generates the bulk of revenue generated by your organization?
- Things - the sale of physical products
- People - the sale of services provided by employees or partners
- Money - the sale of financial products like funds or insurance
- Technology - the sale or licensing of IP or software
- Platforms - the use of platforms (revenue may be in the form of subscription, advertising, share of transactions, etc.)
Asset base
Where does most of your organization's capital get allocated?
- Things - raw materials, production plants, capital goods
- People - hiring, training, and paying workforce
- Money - developing and selling new products
- Technology - research and development
- Platforms - technology (cloud, mobile, AI, etc.) and marketing
Measurement
Which asset type does your organization focus on with its KPIs?
- Things - production rates, inventory turnover, etc.
- People - utilization, billing rates, etc.
- Money - returns, assets under management, etc.
- Technology - length of R&D pipeline, patents, etc.
- Platforms - daily users, shared revenues, user growth, etc.
Consider your responses above. Which of the five asset types drives your company's primary strategy? If you have a secondary asset focus, what is it?
Capstone Exercise 2: PIVOT - Inventory
Take an inventory of some of your organizations under-measured intangible assets. Consider both internal assets, and external assets that you may be able to access easily or through partnerships. The goal of this step is to understand alternative assets that you may be able to leverage into a new strategy.
Intellectual Property
What intellectual property does your organization own? Consider unique insights, processes, skill sets, patents, etc.
Data
What data does your firm have access to? Consider point of sales data, market data, manufacturing data, etc.
Networks
What key networks exist in and around your firm? Consider employees, customers, alumni, integrators, partners, communities, peers, etc.
Capstone Exercise 3: PIVOT - Validate
The purpose of Validate is to build out and begin testing a business plan that leverages a platform strategy.
Building a business plan is an iterative process. Consider how you can combine your organizations data and IP with internal or external networks to create a two-sided revenue model. Begin by brainstorming the right combination of data, producers, and consumers. Focus more on value than on revenue. Then, begin layering on potential revenue models, which may involve a third group: Partners. After you brainstorm, pick one model to focus on and answer the following questions.
Producers
Who will product the good, service, or ideas shared on the platform, and what will they produce?
Consumers
Who will be the "buyer" on the platform? What will bring them?
Data
What data will lay beneath the platform? How will this data contribute value to the users of the network?
Partners
Would your business case benefit from external partners? What value will they provide? Are they a part of the revenue model?
Company
Your company will maintain the platform. How will you regulate and curate the content? What role do you need to play in interactions between producers, consumers, and partners?
Capstone Exercise 4: PIVOT - Organize
The goal of the Organize step is to begin taking action to implement your business case and begin shifting your organization towards a new strategy.
Leadership
It is essential that the board and executive team be bought in on this new initiative. Who among that group will champion it? Does that group need any additional training on insight?
Team
What skills are needed to effectively drive this initiative? New technology skills, such as data management and AI are always in demand. What new roles and people do you need to source?
Funding
It's impossible to change an organization without changing its capital allocation. What funding will this group receive to realize the initiative?
Action plan
What are the key deliverables and the right timeline? Plan in time for iteration and experimentation.
Capstone Exercise 5: PIVOT - Track
The goal of Track is to measure what matters for your new initiative-and this will require different KPIs than the rest of the organization.
Companies that focus on different assets naturally measure different thing in order to gauge their success. What are five new key performance indicators that will be essential in order to track the success of a new strategy initiative, using platforms, AI, and data, in your organization?