Week 5 (MC) Quiz on Artificial Intelligence (AI)

1\. **What does Artificial Intelligence (AI) fundamentally aim to do?** A. Perform all human tasks B. Automate repetitive tasks C. Inform or automate human decision-making **(Correct Answer: C)** D. Replace human judgment entirely 2\. **Which of the following is NOT a key facet of AI?**...

1\. **What does Artificial Intelligence (AI) fundamentally aim to do?** A. Perform all human tasks B. Automate repetitive tasks C. Inform or automate human decision-making **(Correct Answer: C)** D. Replace human judgment entirely 2\. **Which of the following is NOT a key facet of AI?** A. Autonomy B. Learning C. Inscrutability D. Adaptability **(Correct Answer: D)** 3\. **Why is AI considered a "moving target"?** A. AI constantly fails to meet expectations B. AI evolves, and solved problems are no longer considered AI **(Correct Answer: B)** C. AI never achieves practical applications D. AI requires constant hardware upgrades 4\. **What shift occurred in AI development in the 2000s?** A. A focus on rules-based logic B. Programming to learn from data and experience **(Correct Answer: B)** C. Increased reliance on hardware D. Replacement of all human tasks 5\. **What is the primary role of judgment in decision-making?** A. Providing predictions B. Filling in missing data C. Determining payoffs of possible outcomes **(Correct Answer: C)** D. Automating the decision process **Data and Machine Learning** 6\. **What type of data does ML use for learning and improvement?** A. Training data B. Input data C. Feedback data D. All of the above **(Correct Answer: D)** 7\. **Which type of task is most suitable for ML?** A. Tasks requiring rapid environmental changes B. Tasks with clear input-output mappings **(Correct Answer: B)** C. Tasks needing high levels of dexterity D. Tasks with no data available 8\. **What happens when ML receives more data for training?** A. Accuracy improves indefinitely B. Diminishing statistical returns may occur **(Correct Answer: B)** C. Accuracy decreases D. Data quality becomes irrelevant 9\. **What do ML systems struggle with most?** A. Learning from data B. Performing tasks with long chains of reasoning **(Correct Answer: B)** C. Recognizing patterns in images D. Handling large datasets 10\. **Which of the following explains ML's ability to outperform humans in some tasks?** A. ML relies on emotional intelligence B. ML accesses vast training datasets and advanced algorithms **(Correct Answer: B)** C. ML can think creatively D. ML operates with unlimited computing power **ML and Workforce Implications** 11\. **How does ML impact non-SML tasks?** A. It reduces their value B. It makes them obsolete C. It increases their value **(Correct Answer: C)** D. It automates them entirely 12\. **What type of labor is most affected negatively by ML automation?** A. Low-skilled labor B. Middle-skilled labor **(Correct Answer: B)** C. High-skilled labor D. Non-routine labor 13\. **Which economic factor describes ML reducing labor demand for certain tasks?** A. Price elasticity B. Substitution **(Correct Answer: B)** C. Complementarities D. Income elasticity 14\. **What is a significant workforce challenge posed by ML?** A. Total automation of high-skilled roles B. Polarization of job opportunities **(Correct Answer: B)** C. Elimination of creative roles D. Universal job replacement 15\. **How do complementary tasks affect ML's impact on labor?** A. They decrease demand for human skills B. They increase demand for tasks that complement ML **(Correct Answer: B)** C. They remain unaffected D. They make labor redundant 16\. **What is GPT's most significant limitation?** A. It cannot generate creative ideas B. It lacks judgment and truthfulness **(Correct Answer: B)** C. It is too expensive to use D. It requires human supervision for basic functions 17\. **How does GPT assist in ideation?** A. By testing ideas in the real world B. By generating unconventional and diverse ideas **(Correct Answer: B)** C. By replacing brainstorming sessions entirely D. By guaranteeing effective strategies 18\. **What is GPT's role in experimentation?** A. It replaces all testing processes B. It creates detailed narratives for thought experiments **(Correct Answer: B)** C. It eliminates the need for human judgment D. It directly implements ideas in the market 19\. **What is the most impactful use of GPT in strategy communication?** A. Automating all managerial decisions B. Creating polished and compelling narratives **(Correct Answer: B)** C. Providing emotional intelligence to strategies D. Simplifying processes for novices 20\. **For whom is GPT most effective as a tool?** A. Beginners with no strategic experience B. Experienced strategists who can apply judgment **(Correct Answer: B)** C. Managers in routine roles D. Developers designing new algorithms **Technology and Economic Impacts** 21\. **Why does ML adoption face inertia?** A. Limited funding B. Slow changes in processes, legal systems, and culture **(Correct Answer: B)** C. Lack of skilled professionals D. Minimal interest in automation 22\. **What drives ML's economic potential?** A. Unlimited data availability B. Complementary investments in skills and infrastructure **(Correct Answer: B)** C. Fully autonomous systems D. Universal workforce adaptation 23\. **What is a key characteristic of ML progress?** A. Instant widespread adoption B. Gradual evolution due to systemic changes **(Correct Answer: B)** C. Elimination of business inertia D. Guaranteed equality in job impacts 24\. **How does price elasticity affect ML adoption?** A. Lower prices always reduce demand B. Lower automation costs can increase total spending **(Correct Answer: B)** C. Higher prices discourage ML development D. Prices remain unaffected by ML 25\. **What are ML's economic impacts comparable to?** A. Routine technological upgrades B. Historical industrial revolutions **(Correct Answer: B)** C. Temporary innovations D. Workforce stagnation **Broader Themes and Implications** 26\. **What happens when ML automates well-defined tasks?** A. All related jobs disappear B. Non-automatable tasks become more valuable **(Correct Answer: B)** C. Productivity decreases D. Cost-effectiveness diminishes 27\. **How do humans complement ML?** A. By replacing judgment tasks with automation B. By focusing on goal-setting and problem definition **(Correct Answer: B)** C. By reducing their roles to monitoring systems D. By matching ML in repetitive tasks 28\. **What best describes ML's competitive advantage in firms?** A. Reliance on unique datasets and algorithms **(Correct Answer: A)** B. Equal accessibility for all competitors C. Elimination of proprietary systems D. Avoiding integration of feedback data 29\. **How does GPT polarize strategy-making?** A. It reduces the need for strategists B. It benefits skilled users more than beginners **(Correct Answer: B)** C. It democratizes strategy development D. It standardizes all strategic outcomes 30\. **What distinguishes GPT in strategy?** A. Its ability to test ideas B. Its speed in ideation and communication **(Correct Answer: B)** C. Its reliance on independent data D. Its full autonomy in strategy creation