Introduction to General Purpose Technology in AI for Innovation and Entrepreneurship
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Questions and Answers

What is a General Purpose Technology?

  • A technology that can affect an entire economy and has the potential to drastically alter societies (correct)
  • A technology that has minimal impact on economic and social structures
  • A technology that is specific to a certain industry and does not have a broader impact
  • A technology that is limited to a particular geographical area

Who made the statement 'Just as electricity transformed almost everything 100 years ago, today I actually have a hard time thinking of an industry that I don’t think AI will transform in the next several years'?

  • Satya Nadella
  • Tim Cook
  • Elon Musk
  • Andrew Ng (correct)

Which industry does Andrew Ng predict to be transformed by AI in the next several years?

  • Oil and gas industry only
  • A few select industries
  • Almost every industry (correct)
  • Healthcare industry only

What is the main characteristic of rule-based algorithms?

<p>They follow a logic similar to cake recipes and are direct and unambiguous (B)</p> Signup and view all the answers

According to Polanyi’s Paradox, what is difficult to codify and automate?

<p>Tasks relying on tacit, intuitive knowledge (B)</p> Signup and view all the answers

What makes machine learning different from traditional programming?

<p>Machine learning requires enough data and an adaptable model (C)</p> Signup and view all the answers

Which term is used to refer to a technology that can significantly impact an entire economy and has the potential to greatly alter societies?

<p>General Purpose Technology (C)</p> Signup and view all the answers

What is the distinguishing factor between AI and machine learning according to the text?

<p>Ability to Learn Independently (B)</p> Signup and view all the answers

What is the main characteristic of rule-based algorithms?

<p>Reliance on Pre-Defined Rules (B)</p> Signup and view all the answers

According to Polanyi’s Paradox, what is difficult to codify and automate?

<p>Tacit Knowledge (C)</p> Signup and view all the answers

What is the fundamental difference between rule-based algorithms and machine learning algorithms?

<p>Rule-based algorithms are direct and unambiguous, while machine learning algorithms analyze data to discover useful patterns. (D)</p> Signup and view all the answers

What does the AI Effect refer to?

<p>The transformation of industries by AI in the coming years (C)</p> Signup and view all the answers

What is the primary characteristic of machine learning-based algorithms?

<p>They aim to discover useful patterns between different items of data (A)</p> Signup and view all the answers

In the context of AI, what is difficult to codify and automate according to Polanyi’s Paradox?

<p>Tasks relying on tacit, intuitive knowledge (B)</p> Signup and view all the answers

What is the defining characteristic of rule-based algorithms?

<p>They are direct and unambiguous, following a 'step one: do this' approach (D)</p> Signup and view all the answers

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