Podcast
Questions and Answers
What distinguishes services from products?
What distinguishes services from products?
- Services require manufacturing.
- Services are non-physical actions or processes. (correct)
- Services are tangible goods.
- Services are always provided for free.
Which sector significantly contributes to GDP in developed countries?
Which sector significantly contributes to GDP in developed countries?
- Manufacturing and agriculture.
- Services, accounting for over 70% in the US and EU. (correct)
- Technology and communications.
- Construction and automotive.
What percentage of GDP do services account for in most developed countries?
What percentage of GDP do services account for in most developed countries?
- 50% (correct)
- 60%
- 70%
- 80%
What feature of Amazon Go revolutionizes shopping?
What feature of Amazon Go revolutionizes shopping?
Which of the following is an example of using VR in education?
Which of the following is an example of using VR in education?
What does Generative AI primarily do?
What does Generative AI primarily do?
What is the potential benefit of Spotify’s music recommendation system?
What is the potential benefit of Spotify’s music recommendation system?
Which technology helps real estate agencies provide immersive property tours?
Which technology helps real estate agencies provide immersive property tours?
What is a key characteristic of services compared to products?
What is a key characteristic of services compared to products?
Which of the following describes a benefit of AR and VR technologies?
Which of the following describes a benefit of AR and VR technologies?
What is one way Netflix enhances user retention?
What is one way Netflix enhances user retention?
How do fitness apps typically cater to individual users?
How do fitness apps typically cater to individual users?
What does Generative AI learn from?
What does Generative AI learn from?
What significant capability does MIT/MGH's deep learning model provide?
What significant capability does MIT/MGH's deep learning model provide?
What is a common application of AR in shopping?
What is a common application of AR in shopping?
Which of the following is an example of AI in agriculture?
Which of the following is an example of AI in agriculture?
Flashcards
What are services?
What are services?
Actions or processes offered to customers to meet their needs or solve problems. They are non-physical and involve expertise, effort, or experience delivered to the customer.
Why are services important?
Why are services important?
Services are a major part of modern economies, contributing significantly to the GDP of developed countries.
How do AR and VR enhance user engagement?
How do AR and VR enhance user engagement?
AR and VR technologies engage users by creating immersive experiences that captivate attention, leading to better information retention and increased customer satisfaction.
What are personalized recommendations powered by?
What are personalized recommendations powered by?
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How does VR help in real estate?
How does VR help in real estate?
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How does VR benefit education?
How does VR benefit education?
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What is Generative AI?
What is Generative AI?
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How can AI help in healthcare?
How can AI help in healthcare?
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How does Amazon Go work?
How does Amazon Go work?
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Study Notes
Services in Modern Economies
- Services are actions, processes, or efforts provided to customers to meet their needs or solve their problems. These are non-physical, unlike products, and often involve expertise, effort, or experience.
- Services are crucial to modern economies, making up a significant portion (e.g., over 70% in the US and EU) of GDP in developed countries.
- Key service-driven industries include banking/finance (driving investment growth), tourism/hospitality (creating jobs and boosting economies), and technology giants (offering cloud computing and e-commerce platforms).
- Services are the backbone of modern economies.
Enhancing User Experiences with Technology
- AR (Augmented Reality) and VR (Virtual Reality) technologies enhance user engagement by creating immersive experiences, improving memorability and information retention, and increasing customer satisfaction.
- Immersive experiences captivate attention, making them more memorable.
Personalized Services and Experiences
- Companies like Spotify use algorithms to suggest music tailored to listening habits (music recommendations).
- Netflix personalizes watchlists to enhance user experience and retention.
- Fitness apps offer customized workout plans based on user fitness goals.
- Real estate agencies utilize VR for immersive property tours, allowing potential buyers to explore homes remotely.
- Educational institutions use VR for virtual field trips, providing interactive learning experiences beyond the classroom.
- AR and VR enhance shopping through virtual try-ons and visualizations, making experiences immersive and convenient.
Innovative Retail and Checkout Technologies
- Amazon Go's "Just Walk Out" technology revolutionizes retail, allowing customers to grab items and leave stores without checking out using AI, sensors, and computer vision to automatically process purchases.
AI in Healthcare and Agriculture
- Cutting-edge AI applications are improving outcomes and efficiency in healthcare and agriculture.
- An MIT/MGH image-based deep learning model predicts breast cancer up to five years in advance.
- AI helps in optimizing farming practices, boosted yields, and sustainable resource management, monitoring crop health, soil conditions, and weather patterns through drones and sensors.
Generative AI in Finance
- Generative AI creates new content like text, images, and music by learning patterns from existing data. These models use advanced machine learning (deep learning) to generate outputs similar to human-created content.
- Generative AI is moving into other industries.
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