Future industries
Name at least 3 emerging trends shaping our new future.
Decarbonisation efforts, the use of machine learning and AI technologies, the use of a new robotics application, proactive healthcare services, the creation of a sustainable, net-zero future, etc.
What is algorithm and what is the essence of the so-called “secret currency”?
An algorithm is a kind of function that is used to predict and explain the cause of events. “Secret currency” is used by the world’s largest tech companies to not only rise to the top of their field, but to build long-lasting dynasties and become legendary. This “secret currency” is data.
Name 3 working models.
1) On-site work model
2) Remote working
3) Hybrid work model
Match the words from "A" and "B" to get collocations:
A) Event log, hybrid, algorithmic, carbon, Robotic Process, Machine.
B) Learning, monitoring, Automation, work model, footprints, business.
Event log monitoring, hybrid work model, algorithmic business, carbon footprints, Robotic Process Automation, Machine Learning.
Fill in the gaps in the sentences:
1. Education is another industry that will see a drastic ______ in the next thirty years.
2. Scientists have already made great _______ in the world of nanotechnology.
1. change; 2. leaps.
Correct some words to make true sentences.
1. BPA allows workers to focus on mundane, repetitive tasks
2. BPA and RPA have a negative impact on the workplace.
3. BPA is a core technology to overlook routine tasks.
1. avoid;
2. positive;
3. streamline.
Mark the statements as true or false. Make corrections where it is necessary.
1. Millions of people have had a taste of life without the daily commute, or flying thousands of miles to attend face-to-face meetings.
2. Strictly speaking, remote working and flexible working are the same thing.
3. Remote working can boost employee productivity across varied job roles, that involve the physical operation of special equipment, such as machinery and vehicles.
1) True;
2) False (Strictly speaking, remote working and flexible working are not the same thing.);
3) False (Remote working can't boost employee productivity across varied job roles, that involve the physical operation of special equipment, such as machinery and vehicles.).
Mark the statements as true or false. Make corrections where it is necessary.
1) Oil and gas and industrial manufacturing organisations are feeling the pinch of regulators, who want them to significantly increase CO2 emissions within the next few years.
2) Working remotely – it is what people want to do, and the technology is there to help us do it well.
3) By doing so, organisations are automating simple tasks and replacing humans with machines.
1) False (increase -> reduce);
2) True;
3) False (simple -> time-consuming (complicated, difficult))
Mark the statements as true or false. Make corrections where it is necessary.
1. Robotics has had a significant impact on all industries except grocery retail.
2. AI is expected to play a significant role in diagnosing medical issues and supporting treatment plans.
3. Decarbonization efforts in carbon-heavy industries have been swift and effective.
1. False. Robotics has turned around many industries, including grocery retail through the use of "microfulfillment" technology.
2. True.
3. False. Carbon-heavy industries have been slow to implement decarbonization efforts.
Mark the statements as true or false. Make corrections where it is necessary.
1. Businesses are learning more about their customers, route optimisations, supplier information to create revenue streams across one industry.
2. Making sense of large amounts of data via algorithms will improve business decision-making and, eventually, their overall business performance.
3. Businesses are generating vast amounts of data across various fields and collecting data is the main issue.
1. False (one -> many);
2. True;
3. False (Businesses are generating vast amounts of data across various fields and what to do with data is the main issue).
Name at least 2 benefits and 2 drawbacks for each working model.
On-site work model: face-to-face collaboration, team bonding; limited flexibility, office distractions.
Remote working: flexibility, work-life balance; communication challenges, work-life boundaries.
Hybrid work model: improved work-life balance, cost savings; management challenges, potential for inequality.
Give at least 3 examples of businesses using algorithms and explain how they use them.
1. Amazon: Amazon uses algorithms extensively for personalized product recommendations, inventory management, pricing optimization, and logistics planning.
2. Google: Google relies on sophisticated algorithms for its search engine ranking algorithms, ad targeting on its advertising platform, and various machine learning applications.
3. Spotify: The music streaming service uses algorithms to create personalized playlists, recommend songs based on user preferences and listening history, and optimize the user experience by analyzing data on music trends and user behavior.
4. Netflix: The popular streaming service uses algorithms to analyze user viewing habits and preferences to recommend personalized content, improve content delivery, and optimize its streaming platform.
Provide some evidence for the importance of human values in relation to AI.
As AI advances, it becomes crucial to ensure that ethical considerations and principles such as fairness, transparency, and privacy are integrated into AI systems. Maintaining human control and decision-making authority is essential to strike a balance between AI capabilities and human agency. By incorporating human values into AI development, we can create a future where AI enhances human lives while upholding our fundamental principles and ethics.
What are multiple benefits and possible drawbacks of using business process automation tools, once you have automated your business processes?
Benefits:
Increased Efficiency: Automation tools can streamline your business processes, reducing the need for manual intervention and saving time. Tasks that previously required manual effort can be automated, allowing employees to focus on more complex and strategic activities.
Cost Savings: By automating repetitive tasks, you can reduce labor costs associated with manual work. Automation can also minimize errors and rework, resulting in cost savings over time.
Improved Accuracy: It can lead to improved data quality, better decision-making, and enhanced customer satisfaction.
Scalability: Automation tools can handle repetitive tasks at scale, allowing your business to accommodate increased workloads without the need for extensive manual resources. This scalability can support business growth and expansion.
Possible Drawbacks:
Implementation Challenges: It may require significant upfront investments in terms of time, resources, and technology infrastructure. Integration with existing systems and processes can also be a complex task.
Maintenance and Technical Issues: Technical issues or software bugs can disrupt operations and require dedicated resources for troubleshooting and support.
Dependency on Technology: If the tools malfunction or experience downtime, it can disrupt operations and impact business continuity. Backup plans and contingency measures should be in place to mitigate such risks.
How have the working models changed in the last 5 years? (Give at least 3 examples of changes and name some reasons for the changes)
In the last 5 years, there have been significant changes in working models due to various factors such as advancements in technology, changing workforce demographics, and the impact of the COVID-19 pandemic. Some of the key changes include:
1. The COVID-19 pandemic accelerated the adoption of remote work, with many companies transitioning to a fully remote or hybrid work model.
2. Many organizations have introduced more flexible work arrangements, such as compressed workweeks, job sharing, and flexible hours.
3. The gig economy has expanded significantly in the past few years, with more people opting for freelance or contract work over traditional full-time employment.
4. Companies are increasingly focusing on employee well-being and mental health, offering programs and resources to support their employees' overall health and happiness.
5. Advancements in technology have enabled greater collaboration and communication among remote teams.
What new trends are shaping our future? (Give at least 4 examples)
Name how they are used and what problems they solve.
1) Robotics and Automation technologies can perform repetitive tasks, assist with surgery, harvest crops, and handle warehouse operations. Robotics and automation can address challenges related to labor shortages, workplace injuries, and operational costs.
2) Artificial Intelligence (AI) is a rapidly growing trend that is being used in various fields such as healthcare, finance, retail, and transportation. AI algorithms can analyze large amounts of data to identify patterns and trends, make predictions, automate tasks, and improve decision-making processes.
3) Sustainable Technology. With increasing concerns about climate change and environmental sustainability, there is a growing focus on developing technologies that reduce carbon emissions, promote renewable energy sources, improve waste management, and create more sustainable practices in various industries.
4) Biotechnology and Gene Editing can be used to develop personalized medicine, improve crop yields, and address genetic diseases. Biotechnology and gene editing can solve problems related to disease treatment, food security, and environmental sustainability.