DTS - Week 5 (Articles and Lecture)

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Questions and Answers

Which of the following is NOT a characteristic of AI as described in Lecture 5?

Learning

Autonomy

Physical dexterity (correct)

Inscrutability

In the 2000s, what major shift occurred in AI development compared to earlier decades?

A focus on teaching computers to learn from example data (correct)

Use of larger physical robots for task automation

Deployment of mass-market AI tools

Improved rule-based logic systems

In the decision-making process, prediction is best defined as:

Comparing multiple outcomes to find optimal results

Filling in missing information using existing data (correct)

Using data to determine the correct decision

Evaluating potential risks associated with decisions

Why does the value of judgment increase as prediction improves?

Prediction alone cannot evaluate the payoffs of various outcomes. Signup and view all the answers

Which of the following tasks is least suitable for machine learning according to "Articles - Week 5"?

Making decisions requiring long chains of logical reasoning Signup and view all the answers

What is the role of feedback data in machine learning?

To refine the model based on observed outcomes Signup and view all the answers

What is the primary benefit of breaking workflows into tasks when integrating AI?

Enables prioritization based on ROI of individual tasks Signup and view all the answers

Which of the following does NOT provide a sustained competitive advantage for firms using AI?

Increased general workforce hiring Signup and view all the answers

The substitution effect of AI refers to:

AI systems replacing tasks previously done by humans Signup and view all the answers

Which skill category is most likely to see increased demand due to AI's complementarity effects?

High-skilled roles requiring judgment and creativity Signup and view all the answers

Why do machine learning systems struggle with tasks requiring long chains of reasoning?

Fragility in rapidly changing data environments Signup and view all the answers

Which of the following is NOT a challenge associated with AI implementation in businesses?

The limited scalability of trained models Signup and view all the answers

What is a likely impact of AI adoption on middle-skill jobs?

Decline due to substitution effects Signup and view all the answers

What organizational change accompanies automation of managerial tasks?

Increased spans of control for remaining managers Signup and view all the answers

Which of the following is critical for AI startups to succeed in the long run?

Ownership of training and feedback data Signup and view all the answers

What distinguishes feedback data from training data in AI workflows?

Feedback data refines predictions based on real-world outcomes. Signup and view all the answers

According to the Resource-Based View (RBV), what enables firms to achieve a sustainable competitive advantage?

Resources that are valuable, rare, inimitable, and non-substitutable Signup and view all the answers

Which type of job task is most likely to be replaced entirely by robots?

Physical tasks requiring precision and repetition Signup and view all the answers

How can AI firms mitigate the risk of losing value to third parties in their workflows?

By integrating prediction and judgment tasks in-house Signup and view all the answers

What is a core challenge of separating prediction from judgment in AI workflows?

Judgment involves subjective preferences difficult to specify in contracts. Signup and view all the answers

Study Notes

Multiple Choice Questions

Question 1: Physical dexterity is NOT a characteristic of AI as described in Lecture 5. Autonomy, learning, and inscrutability are characteristics.
Question 2: A shift in AI development in the 2000s involved focusing on teaching computers to learn from example data, rather than rule-based systems or physical robots.
Question 3: Prediction in decision-making is defined as comparing multiple outcomes to find optimal results, not determining the correct decision, filling in missing data, or evaluating risks.
Question 4: The value of judgment increases as prediction improves.
**Question 5: ** Machine learning is least suitable for tasks needing lengthy chains of logical reasoning.
Question 6: Feedback data in machine learning refines the model based on observed outcomes, enabling a better prediction model.
Question 7: Integrating AI into tasks through breaking workflow tasks enables prioritization based on Return on Investment (ROI).
Question 8: Superior judgment capabilities is NOT a sustained competitive advantage for firms using AI. Unique datasets, proprietary algorithms, and increased workforce hiring are advantages.
Question 9: The substitution effect of Al refers to AI systems taking over tasks previously handled by humans, not humans replacing machines or workers retraining for new roles.
Question 10: High-skilled roles requiring judgment and creativity, are likely to see increased demand due to AI's complementary effects.
Question 11: Machine learning systems struggle with tasks needing long chains of reasoning because of limited access to training data, a lack of logical reasoning capabilities, dependence on human intervention and fragility in rapidly changing environments.
Question 12: High initial cost of training data, privacy concerns in feedback data collection, limited scalability of trained models and rapid changes in the task environment are all associated AI implementation challenges
Question 13: AI adoption on middle-skill jobs is likely to lead to a decline due to substitution effects.
Question 14: The organizational changes brought by managing managerial tasks involves increasing spans of control, centralized decision-making authority, reduced need for collaboration within teams.
Question 15: Critical success for AI startups involves owning training and feedback data.
Question 16: Feedback data refines predictions based on real world results, differs from training data used for initial model creation
Question 17: Sustainable competitive advantage arises from valuable, rare, inimitable and non-substitutable resources.
Question 18: Physical tasks requiring precision and repetition are more likely to be replaced by robots.
Question 19: AI firms can mitigate the risk of losing value to third parties in their workflows, by integrating prediction tasks in-house and outsourcing judgement tasks.
Question 20: A core challenge of separating prediction from judgment in AI workflows arises because judgment involves subjective preferences, making contracts difficult and preventing prediction tools from functioning properly without input from judgment processes..

Answer Key

All answers are provided in the document

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Test your knowledge on key concepts covered in Lecture 5 about artificial intelligence and machine learning. This quiz explores the characteristics of AI, the evolution of AI development in the 2000s, and the role of prediction in decision-making. Perfect for students looking to reinforce their understanding of these important topics.