AI and Its Impact Quiz
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Questions and Answers

What was the nagging feeling eating at Bradley Stewart, the CEO of XOJET?

  • That the company was not focused on luxury travelers
  • That the company was not making enough revenue (correct)
  • That the company had not celebrated its 10-year anniversary
  • That the company was not the largest private aviation company in the world

    • What had happened to XOJET's annual revenue from 2009 to 2015?

  • It had decreased significantly
  • It had risen from $100 million to $400 million (correct)
  • It had fluctuated unpredictably
  • It had remained the same

    • What was XOJET's focus in terms of their customers?

  • Low-budget vacationers
  • International cargo shipping
  • Private jet enthusiasts
  • High-volume business and luxury travelers (correct)

    • What did XOJET's president of fleet operations think they could use to add value to their business?

    <p>Data analytics specifically, or machine learning more broadly</p> Signup and view all the answers

    Who made an unusual investment in XOJET's controlling shareholder, TPG?

    <p>TPG itself</p> Signup and view all the answers

    What was TPG known for prior to making the unusual investment in XOJET?

    <p>Buying out companies like Continental Airlines and J. Crew</p> Signup and view all the answers

    What was the initial success Noodle.ai found with XOJET?

    <p>Reduction in time spent repositioning empty planes</p> Signup and view all the answers

    What insight did Noodle.ai gain about XOJET's market share?

    <p>35% market share in flights longer than 3½ hours</p> Signup and view all the answers

    What was one of the challenges facing Joshi and Pratt as they got Noodle.ai off the ground?

    <p>Replicating success with other types of customers</p> Signup and view all the answers

    What model did IC use to save time and cost efficiently?

    <p>Global Delivery Model</p> Signup and view all the answers

    What type of business intelligence software did Joshi join after leaving Infosys?

    <p>Business intelligence software product</p> Signup and view all the answers

    What did Pratt consider a powerful tool that could fundamentally change business?

    <p>Learning algorithms</p> Signup and view all the answers

    What kind of products did XOJET create after understanding its market share?

    <p>$100 an hour fixed-rate product targeted at jet card customers</p> Signup and view all the answers

    According to the text, what was one of the features of Raj Joshi that complemented Pratt's skills?

    <p>Super detail-oriented and loved processes</p> Signup and view all the answers

    What did Pratt see AI as?

    <p>Power tools for the mind</p> Signup and view all the answers

    What led Pratt and Joshi to leave Infosys in early 2014?

    <p>Excitement about creating a new consulting model</p> Signup and view all the answers

    What was the need that TPG sensed in the marketplace?

    <p>A need for a business to help mature companies make sense of their data</p> Signup and view all the answers

    What project had Pratt worked on for the U.S. Coast Guard in the 1990s?

    <p>A failed AI project to identify ships smuggling drugs</p> Signup and view all the answers

    What did TPG executives feel was the space for business in relation to data sensemaking?

    <p>The space was interesting with clear demand but approached incorrectly by existing companies</p> Signup and view all the answers

    What did Pratt believe could fundamentally change business?

    <p>Predicting and fixing problems before they happened</p> Signup and view all the answers

    Why did Pratt join TPG as an executive in residence?

    <p>To explore opportunities in the AI space</p> Signup and view all the answers

    What was one of the key aspects of IC's strategy at Infosys?

    <p>Offering business consulting at blended rates of about $100 an hour</p> Signup and view all the answers

    Why did Pratt leave his job at IBM running Watson implementations?

    <p>He found working in a large company not suited to his speed</p> Signup and view all the answers

    What made TPG decide to invest in Pratt's start-up?

    <p>They were impressed by Pratt's vision for the company</p> Signup and view all the answers

    What was Raj Joshi's reason for getting on board with Pratt's start-up?

    <p>He wanted to keep doing big things and not retire</p> Signup and view all the answers

    What was the need identified by Joshi's clients at MicroStrategy?

    <p>A need for more predictive analytics help</p> Signup and view all the answers

    What was TPG's initial approach towards building an AI company?

    <p>'Buy something and tweak it' approach</p> Signup and view all the answers

    What did TPG feel like they were doing after not finding a company they were enthused about?

    <p>'Bringing Steve in to be a turn-around executive for a business that wasn’t working'</p> Signup and view all the answers

    What did Pratt feel after spending nine months shopping for a company?

    <p>Discouraged and tired of searching</p> Signup and view all the answers

    What drove the person mentioned in the text?

    <p>The motivation to touch people's lives for the better</p> Signup and view all the answers

    What was the aha moment for the person mentioned in the text?

    <p>Embracing the idea that touching people's lives for the better really matters</p> Signup and view all the answers

    Why did TPG show interest, despite Pratt and Joshi not being AI experts?

    <p>Because of TPG's portfolio of companies' demand for AI</p> Signup and view all the answers

    What helped de-risk the process of starting a company for Pratt and Joshi?

    <p>Leveraging their existing portfolio to drive demand</p> Signup and view all the answers

    Where did Pratt and Joshi initially work on their new company?

    <p>Out of Pratt's dining room</p> Signup and view all the answers

    Who suggested the name 'Noodle' for the company?

    <p>Chelsea Hardaway</p> Signup and view all the answers

    Why did Joshi initially have reservations about the name 'Noodle'?

    <p>'Noodle' conjured up thoughts of pasta for Joshi</p> Signup and view all the answers

    'Noodle Analytics Inc.' was registered because:

    <p>'Noodle Inc.' was already taken</p> Signup and view all the answers

    When was Noodle Analytics Inc. incorporated?

    <p>2016</p> Signup and view all the answers

    Why did Pratt and Joshi choose to launch Noodle Analytics Inc. on March 14, 2016?

    <p>'Pi Day' is celebrated by math nerds on this date</p> Signup and view all the answers

    'AI had moved out of the realm of sci-fi movies' refers to:

    <p>'AI had gained mainstream acceptance'</p> Signup and view all the answers

    What did TPG allocate to seed the San Francisco-based AI start-up Noodle.ai?

    <p>$15 million</p> Signup and view all the answers

    Who are the founders of Noodle.ai?

    <p>Stephen Pratt and Raj Joshi</p> Signup and view all the answers

    What perspective did Stephen Pratt have on AI?

    <p>AI will fundamentally change business in the next five years</p> Signup and view all the answers

    What did XOJET use for dynamic pricing before working with Noodle.ai?

    <p>A basic 28,000-cell spreadsheet</p> Signup and view all the answers

    What was the main issue with dynamic pricing by humans, according to XOJET?

    <p>It was prone to cognitive bias</p> Signup and view all the answers

    What kind of company did Pratt and Joshi believe Noodle.ai should be positioned as?

    <p>A product company with a SaaS business model</p> Signup and view all the answers

    What did Noodle.ai acquire data sets from for their work with XOJET?

    <p>FAA and other public and private sources</p> Signup and view all the answers

    What did PwC predict about the global GDP in 2030 as a result of AI?

    <p>It could be up to 14 percent higher with $6.6 trillion from increased productivity and $9.1 trillion from consumption-side effects.</p> Signup and view all the answers

    Why were many managers at medium-to-large companies feeling pressure to incorporate AI into their operations?

    <p>Due to the warnings in the Harvard Business Review article about the lasting advantage for companies that get started immediately with machine intelligence.</p> Signup and view all the answers

    What did the MIT Sloan Management Review study find about executives' beliefs regarding AI?

    <p>75 percent believed AI would allow their firms to move into new businesses, and 85 percent believed AI would allow their companies to obtain or keep a competitive advantage.</p> Signup and view all the answers

    What percentage of companies had an AI strategy in place, according to the survey results?

    <p>Less than 40 percent</p> Signup and view all the answers

    How did the Oxford Dictionary define AI?

    <p>'The theory and development of computer systems able to perform tasks normally requiring human intelligence.'</p> Signup and view all the answers

    What was noted in a Gartner report about enterprises' struggle with AI?

    <p>'Enterprises are struggling to identify where and how to generate business value with AI due to unrealistic expectations and deepening skepticism.'</p> Signup and view all the answers

    What was the potential of AI for businesses according to the text?

    <p>'It could help businesses generate new revenue, reduce costs, and improve customer service.'</p> Signup and view all the answers

    According to the text, what was the market capitalization comparison between Walmart and Amazon?

    <p>Amazon had a market capitalization three times as great as Walmart’s.</p> Signup and view all the answers

    Why were investors rewarding companies with a strong AI focus according to the text?

    <p>'Because companies with a strong AI focus were predicted to lead the market with increased productivity and consumption-side effects.'</p> Signup and view all the answers

    What sparked XOJET's interest in using data analytics and machine learning?

    <p>Reading narratives around artificial intelligence in the Harvard Business Review</p> Signup and view all the answers

    Why did TPG's investment in XOJET stand out as unusual?

    <p>TPG was not known for funding brand new start-ups</p> Signup and view all the answers

    What did XOJET's president of fleet operations, Austin Schell, express as a potential value addition to their business?

    <p>Using data analytics specifically, or machine learning more broadly</p> Signup and view all the answers

    What was the focal point of XOJET's interest in adding value to their business?

    <p>Using data analytics and machine learning to add value</p> Signup and view all the answers

    What was XOJET's focus in terms of their customers?

    <p>High-volume business and luxury travelers</p> Signup and view all the answers

    What led TPG to make an unusual investment in XOJET?

    <p>Reading narratives around artificial intelligence</p> Signup and view all the answers

    What did the pricing algorithm built by Noodle incorporate for XOJET’s revenue managers?

    <p>Region-to-region demand dynamics</p> Signup and view all the answers

    What insight did Noodle wrangled data give XOJET about its market share?

    <p>18% market share in flights between 2 and 3½ hours</p> Signup and view all the answers

    What led Pratt to think that learning algorithms could fundamentally change business?

    <p>The failure of an AI project he worked on</p> Signup and view all the answers

    Why did Pratt and Joshi leave Infosys in early 2014?

    <p>To start their own AI company</p> Signup and view all the answers

    What was the strategy used by IC to save time and cost efficiently?

    <p>Global Delivery Model</p> Signup and view all the answers

    What did Joshi and Pratt initially consider doing together after leaving Infosys?

    <p>Buying a company together</p> Signup and view all the answers

    What was the focus of Noodle.ai's founders, Stephen Pratt and Raj Joshi, for AI in the enterprise?

    <p>Predictive analytics</p> Signup and view all the answers

    How did XOJET manage dynamic pricing before working with Noodle.ai?

    <p>Relying on cognitive bias of revenue managers</p> Signup and view all the answers

    What did Noodle.ai's team acquire data sets from for their work with XOJET?

    <p>Exclusively from the FAA and other public and private sources</p> Signup and view all the answers

    What did XOJET use for dynamic pricing before working with Noodle.ai?

    <p>Cognitive bias of revenue managers</p> Signup and view all the answers

    Who led the Noodle.ai team that worked side-by-side with XOJET?

    <p>Amit Saini</p> Signup and view all the answers

    What did Stephen Pratt believe would fundamentally change business?

    <p>Artificial intelligence and machine learning</p> Signup and view all the answers

    How did XOJET manage pricing levels historically?

    <p>By using a 28,000-cell spreadsheet with hundreds of city pairs in it</p> Signup and view all the answers

    What were some of the factors acquired by Noodle.ai's team for dynamic pricing with XOJET?

    <p>3,300 different factors including weather and holidays</p> Signup and view all the answers

    What was the real value in the business that XOJET and Noodle.ai identified?

    <p>Better dynamic pricing</p> Signup and view all the answers

    What kind of problems did Noodle.ai need to figure out what they could solve for what kind of clients?

    <p>Problems related to predictive analytics for aviation clients</p> Signup and view all the answers

    What was the initial problem that XOJET discussed with Noodle.ai while they were figuring out how they might work together?

    <p>Predicting airport delays or trip disruptions before takeoff</p> Signup and view all the answers

    What did XOJET consider as a limitation of dynamic pricing by humans?

    <p>Cognitive bias affecting human pricing decisions</p> Signup and view all the answers

    What was the driving force for Pratt and Joshi in starting a company?

    <p>To touch people's lives for the better</p> Signup and view all the answers

    What made TPG interested in Pratt and Joshi's venture despite their lack of expertise in AI?

    <p>TPG's core business was not startups</p> Signup and view all the answers

    What did Raj Joshi realize about the demand for AI in TPG’s portfolio of companies?

    <p>The demand could be leveraged from the existing portfolio</p> Signup and view all the answers

    What was the initial challenge faced by Pratt and Joshi as they started Noodle Analytics Inc.?

    <p>Lack of a clear roadmap</p> Signup and view all the answers

    Why did Raj Joshi initially have reservations about the name 'Noodle' for the company?

    <p>He associated it with pasta</p> Signup and view all the answers

    Why did Pratt and Joshi ultimately decide to go with the name 'Noodle' for their company?

    <p>It was memorable and creative</p> Signup and view all the answers

    When was Noodle Analytics Inc. incorporated?

    <p>March 14, 2016</p> Signup and view all the answers

    What event led to IBM’s supercomputer, Watson, gaining fame?

    <p>Defeating human contestants on Jeopardy in 2011</p> Signup and view all the answers

    What does the quote 'IBM’s Watson Is Everywhere—But What Is It.' refer to?

    <p>The widespread use of AI techniques and related applications by IBM</p> Signup and view all the answers

    'AI had moved out of the realm of sci-fi movies' refers to:

    <p>'AI' transitioning from being just a concept in movies to being part of everyday life</p> Signup and view all the answers

    'Noodle Analytics Inc.' was registered because:

    <p>'Noodle Inc.' was already taken</p> Signup and view all the answers

    What led Pratt and Joshi to leave Infosys in early 2014?

    <p>Opportunity to work with TPG</p> Signup and view all the answers

    What did Pratt see artificial intelligence (AI) as?

    <p>A technique for making better decisions based on complex situations</p> Signup and view all the answers

    What did Nehal Raj, a partner at TPG, feel was the need in the marketplace?

    <p>Companies that could help mature companies make sense of their data</p> Signup and view all the answers

    What was Raj Joshi's reason for getting on board with Pratt's start-up?

    <p>He felt a personal factor driving him to keep doing big things</p> Signup and view all the answers

    'We immediately agreed… it was probably going to get to scale more quickly if we went out and bought something together.' What does this statement imply?

    <p>Pratt and TPG preferred buying an existing company rather than starting from scratch</p> Signup and view all the answers

    'That happens like once every thousand meetings.' What does this statement imply?

    <p>TPG rarely finds an immediate connection with entrepreneurs' visions</p> Signup and view all the answers

    'At that point, I’d spent nine months shopping for a company.' What did Pratt feel after this experience?

    <p>He felt frustrated and exhausted from searching for a company</p> Signup and view all the answers

    'And so then I called Raj [Joshi].' What was the purpose of Pratt calling Raj Joshi?

    <p>To convince Joshi to invest in his start-up</p> Signup and view all the answers

    'And what we said was, 'Let’s go and find businesses that do this.' What did TPG plan to do?

    <p>Buy existing businesses related to data sensemaking</p> Signup and view all the answers

    'That happens like once every thousand meetings.' What was Raj's reaction to meeting Pratt?

    <p>'He needs an investor. We need someone with a vision.'</p> Signup and view all the answers

    'I said, ‘This company needs to exist.’ What does this statement reveal about Pratt's attitude?

    <p>'He was persistent in his pursuit despite challenges'</p> Signup and view all the answers

    'There’s clearly demand for it if you use our portfolio as a proxy for bigger enterprises.' What does this statement suggest about TPG's perspective?

    <p>'They believe their portfolio represents the needs of larger enterprises'</p> Signup and view all the answers

    What did PwC predict about the global GDP in 2030 as a result of AI?

    <p>It could be up to 14 percent higher in 2030 than it would be without AI.</p> Signup and view all the answers

    What did the Oxford Dictionary define AI as?

    <p>The theory and development of computer systems able to perform tasks normally requiring human intelligence.</p> Signup and view all the answers

    What did a Gartner report note about enterprises' struggle with AI?

    <p>Enterprises are struggling to identify where and how to generate business value with AI.</p> Signup and view all the answers

    What percentage of companies had an AI strategy in place, according to the survey results?

    <p>Less than 20 percent</p> Signup and view all the answers

    What did the MIT Sloan Management Review study find about executives' beliefs regarding AI?

    <p>85 percent believed AI would allow their companies to obtain a competitive advantage.</p> Signup and view all the answers

    How did Walmart's market capitalization compare to Amazon's by mid-2018?

    <p>Amazon's market cap was three times greater than Walmart's.</p> Signup and view all the answers

    According to the text, what did AI have the potential to help businesses with?

    <p>$6.6 trillion from increased productivity and $9.1 trillion from consumption-side effects.</p> Signup and view all the answers

    'AI is evolving rapidly, as is the understanding and definition of the term.' What did the quote refer to?

    <p>The rapid evolution of AI technology and its definition.</p> Signup and view all the answers

    'Enterprises are struggling to identify where and how to generate business value with AI.' What was noted about this struggle?

    <p>'This struggle fuels a deepening skepticism about the potential of AI.'</p> Signup and view all the answers

    'AI is more than a novelty' refers to what aspect of AI?

    <p>'AI has significant practical and long-term value.'</p> Signup and view all the answers

    According to the text, what did the largest companies (those with 100,000 or more workers) do regarding AI strategy?

    <p>They were most likely to have an articulated AI strategy.</p> Signup and view all the answers

    What did a study by MIT Sloan Management Review find about executives' beliefs regarding AI's impact on their companies?

    <p>85 percent believed that AI would allow their companies to obtain or keep a competitive advantage.</p> Signup and view all the answers

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