glodssary from mckinsey

Glossary Application programming interface (API) is a way to programmatically access (usually external) models, data sets, or other pieces of software. Artificial intelligence (AI) is the ability of software to perform tasks that traditionally require human intelligence. Artificial neural networks (ANNs) are composed of interconnected layers of software-based calculators known as “neurons.” These networks can absorb vast amounts of input data and process that data through multiple layers that extract and learn the data’s features. Deep learning is a subset of machine learning that uses deep neural networks, which are layers of connected “neurons” whose connections have parameters or weights that can be trained. It is especially effective at learning from unstructured data such as images, text, and audio. Early and late scenarios are the extreme scenarios of our work-automation model. The “earliest” scenario flexes all parameters to the extremes of plausible assumptions, resulting in faster automation development and adoption, and the “latest” scenario flexes all parameters in the opposite direction. The reality is likely to fall somewhere between the two. Fine-tuning is the process of adapting a pretrained foundation model to perform better in a specific task. This entails a relatively short period of training on a labeled data set, which is much smaller than the data set the model was initially trained on. This additional training allows the model to learn