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</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</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</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</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</p> Signup and view all the answers

    What is the main characteristic of rule-based algorithms?

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

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

    <p>Tacit Knowledge</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.</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</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</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</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</p> Signup and view all the answers

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