DTS - Week 5 (Articles and Lecture)

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

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.