The term Artificial Intelligence – or the simulation of human intelligence processes by machines or computers– was coined in the 1950s and the technology has been evolving ever since. Today, the advanced forms, such as generative AI, have greater abilities to communicate, learn, and make decisions, which has broad implications for society and daily life.
Here are key terms to know as business leaders consider how to implement this rapidly evolving technology.
Algorithmic Bias
An error resulting from bad training data and poor programming that causes AI models to make prejudiced decisions. Such models may draw inappropriate assumptions based on gender, ability, or race. In practice, these errors can cause serious harm by affecting decision-making.
Autonomous Agents
An AI model that has an objective and enough tools to achieve it. For instance, self-driving cars are autonomous agents that use sensory input, GPS data, and driving algorithms to make independent decisions about how to navigate and reach destinations.
Deep Learning
A more advanced version of machine learning that processes a wider range of data resources such as text and unstructured data like images. Examples include the ability to detect suspicious attempts to log into an account or to suggest that a password is not strong enough.
Generative AI
A form of AI that creates content, including text, video, code, and images. A generative AI system is trained using large amounts of data, so that it can find patterns for generating new content. Examples include Chat GPT or DALL-E.
Hallucination
A situation where an AI system produces fabricated, nonsensical, or inaccurate information. The wrong information is presented with confidence, which can make it difficult for people to know whether the answer is reliable.
Machine Learning
A form of artificial intelligence that focuses on developing algorithms and models that help machines learn from data and predict trends and behaviors, without human assistance. Google Maps, for instance, uses machine learning to build models that predict commute times.
Narrow AI
AI that has one-track mind and is designed to do only one thing. Examples include algorithms that only detect not safe for work (NSFW) images or recommend what Amazon product to buy.
