50 Questions
What is the main point of Cassie Kozyrkov's advice about AI?
To prioritize AI use cases based on their potential impact
What is a common assumption about selecting successful AI use cases?
It is similar to selecting application areas for Big Data
What are some of the challenges mentioned for AI deployment in internal processes?
Practical implementation hurdles, scaling failures, and maintenance escalations
What is not the inevitable collateral damage of applying a disruptive technology like AI?
Glitches turning customers off and drawing out the sales process
What is a comprehensive AI strategy composed of?
AI vision, AI portfolio, and enabling factors
What does the author recommend before starting the process of defining and prioritizing AI use cases?
Empowering the team with at least one 'Introduction to AI' workshop
What is considered when developing a comprehensive AI strategy?
Alignment with the overall strategy, AI vision, and machine learning sophistication
What is crucial before starting any AI-related initiatives in well-prepared companies?
Conducting an 'Introduction to AI' workshop
What is a key element of a programmatic approach to leverage AI for a company?
Thorough preparation and use case ideation
What is a common trap for teams when beginning to work on AI application areas?
Wasting time on marginal AI application areas
What is recommended before embarking on prioritizing use cases when it comes to AI maturity?
Completing an efficient online AI Maturity Assessment
What should the focus be on for process-centric AI use cases at a high level?
Company processes, either internal or at the interface with customers, partners, or suppliers
What is the critical input for assessing to what extent more sophisticated AI applications can be implemented efficiently and add value?
AI maturity
What is considered as the soil for AI algorithms and a source of inspiration, as well as a source of frustration in assessment and implementation?
Data availability
What is the major difficulty involved in implementing an AI use case according to the text?
Availability of required know-how
What are the important aspects that can increase the effort or decrease the value substantially during the AI implementation?
Regulatory and/or ethics flag
What is the purpose of using a customer journey map in AI implementation?
To visualize each step of the customer interaction and use of the product or service.
Which AI capability involves analyzing, interpreting, and learning from data representing physical systems and controlling its behavior?
Robotics and Control
What is an example of a new analytics capability in AI implementation?
Forecasting
What is the purpose of Computer Linguistics in AI capabilities?
To process, interpret, and render text and speech.
What is a critical consideration when assessing AI use cases?
The level of detail in the description of the use case
What should be considered when assessing the feasibility of a use case for AI?
The availability of data sources
What is emphasized as a key factor in overcoming the 'AI divide'?
Familiarity with AI technologies and data infrastructure
What is recommended for capturing the outcome of the ideation phase?
Utilizing opportunity space cards
Why is understanding all possible sources of data important for AI use cases?
To identify unique data assets for potential use cases
What is the purpose of the 'Return on AI (ROAI)’ calculation mentioned in the text?
To ensure an efficient utilization of limited resources and maximum return on the corporation’s AI portfolio
What should be differentiated when calculating use case returns, according to the text?
Internal and external value generation
What is important to consider when assessing investment expenditures for AI applications?
Account for the required interdisciplinary roles across the application life cycle and estimates of the development and implementation time
What is emphasized as a critical consideration in the assessment of AI use cases?
The time horizon and discount rate on which the ROAI evaluation is based
What is a major challenge for companies when quantifying and measuring the actual value contribution of AI initiatives?
The qualitative nature of many of AI's benefits
What is a key difficulty for companies aspiring to become AI-first industry leaders?
The uncertainty of exploratory approaches combined with the interweaving of data and learning algorithms
What do companies across various industries and geographies concur about AI?
AI holds tremendous value potential for businesses, the economy, and society
Why does quantifying and measuring the actual value contribution of AI initiatives present a major challenge for companies?
Because many of AI's benefits are qualitative in nature and have uneven payouts
Which of the following is an example of improved resource consumption in AI applications?
Automating the filing and documentation of invoices
What is an example of increased speed of operations in AI applications?
Reducing downtime through predictive maintenance
Which scenario represents improved access to information and decision making in AI applications?
Retrieval of detailed information about specific models and similar-looking watches
What is an example of risk reduction through AI application?
Analysis of documents to calculate credit scores or identify fraudulent patterns
How can the algorithm benefit a fashion retailer in terms of markdown optimization?
By reducing the amount of discounted stock using ML methods to optimize merchandising and mark-down effectiveness
How can the algorithm impact the creation of new business models?
By enabling the creation of new business models through intelligent, resource-sensitive network planning
What is a potential benefit of the algorithm for an online retailer offering tailored product offerings?
Increasing profits by improving customer satisfaction and imposing higher sales prices
How does the algorithm contribute to demand forecasting for a comprehensive network of charging stations?
By providing recommendations based on an extensive variety of factors such as energy grid and traffic routes
What should be taken into account in the Return on AI (ROAI) calculation, as illustrated in Figure 5?
Both the costs saved through the application and the costs incurred through falsely predicted or classified events
What does a false output in predictive maintenance cases lead to?
Unnecessary repair work
What is a common challenge for AI beginners according to the text?
High initial investments in data preparation, IT infrastructure, and people development
What happens with the focus as the corporate perspective on AI matures?
The focus shifts from individual use cases to AI portfolio management
What is recommended to increase overall AI maturity as mentioned in the text?
Reinvesting resources freed up in the short to mid-term
What is the purpose of differentiating between AI use case development expenses and costs for operation and maintenance?
To understand the resource and time requirements for each phase of the AI application life cycle
What is the strategic and organizational learning aimed at in the context of AI value assessment?
Collection of historical evidence on AI-based value creation for future resource claims
What is the primary purpose of the systematic approach to AI value assessment described in Figure 4?
To test and refine value hypotheses for different AI use cases
What is the key benefit of understanding all possible sources of data for AI use cases?
To effectively integrate and process secure, structured, and efficient data
This quiz covers the aspects of assessment, prioritization process documentation, and their influence on the execution setup in the context of AI. It also delves into common failures and specifics of AI highlighted in the introduction.
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