Podcast
Questions and Answers
Which of the following is a characteristic of cognitive biases?
Which of the following is a characteristic of cognitive biases?
- They are widely accepted as something that makes us human.
- They are systematic errors in our thought process.
- They impact the way we live and work.
- All of the above. (correct)
What does automation bias refer to?
What does automation bias refer to?
- The tendency to favor the suggestions of automated systems. (correct)
- The tendency to resist the suggestions of automated systems.
- The tendency to ignore the suggestions of automated systems.
- The tendency to question the suggestions of automated systems.
What is the role of AI-infused applications in personalizing content?
What is the role of AI-infused applications in personalizing content?
- They have no impact on personalization.
- They make all of our decisions for us.
- They improve personalization by using algorithms. (correct)
- They decrease personalization by using algorithms.
What is the potential concern raised by the text about algorithms making decisions?
What is the potential concern raised by the text about algorithms making decisions?
Which of the following is a type of business model mentioned in the text?
Which of the following is a type of business model mentioned in the text?
What is the main benefit of adopting a franchise model for a company?
What is the main benefit of adopting a franchise model for a company?
Which company is given as an example of a successful franchise model in the text?
Which company is given as an example of a successful franchise model in the text?
What does a franchisor license to a franchisee in a franchise model?
What does a franchisor license to a franchisee in a franchise model?
What is the purpose of a business model?
What is the purpose of a business model?
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Study Notes
Cognitive Biases
- A characteristic of cognitive biases is the tendency to make irrational decisions based on mental shortcuts or biases.
Automation Bias
- Automation bias refers to the tendency to over-rely on automated systems, such as AI, and overlook their potential flaws or biases.
AI-Infused Applications
- AI-infused applications play a key role in personalizing content by using machine learning algorithms to tailor the content to individual users.
Algorithmic Decision-Making
- A potential concern raised by the text about algorithms making decisions is the possibility of biased or unfair outcomes due to flawed or biased algorithms.
Business Models
- One type of business model mentioned in the text is the franchise model.
Franchise Model Benefits
- The main benefit of adopting a franchise model for a company is the ability to expand rapidly and efficiently while maintaining brand consistency.
Franchise Model Examples
- The company McDonald's is given as an example of a successful franchise model in the text.
Franchise Model Components
- In a franchise model, the franchisor licenses the business's intellectual property, branding, and operating system to a franchisee.
Business Model Purpose
- The purpose of a business model is to provide a framework for creating, delivering, and capturing value for an organization.
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