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Often, the terminology gets in the way of understanding when the actual concept itself can be a lot easier to grasp. What exactly is a Model, and how does it differ from a Tool or Platform, for instance? Our AI Glossary for Business aims to help you get on the right track to make the most of the AI revolution.
Content (text, images, videos) created by AI tools like ChatGPT or Midjourney, similar to an intern drafting blog posts based on guidelines.
AI helps place ads where they are most likely to convert, like a billboard company knowing the best spots to advertise based on traffic patterns.
An innovative system that tracks and nurtures customer relationships, similar to a personal assistant reminding you to follow up with important clients.
Think of AI as your virtual assistant that never sleeps. It helps automate tasks, analyse data, and provide insights to improve decision-making, much like a great business consultant.
AI handles repetitive tasks like email marketing, social media posting, or data entry, just like hiring an efficient virtual assistant.
Automated messaging assistants that can handle customer queries, book appointments, or suggest products, acting like a 24/7 customer service rep.
Software where the source code is proprietary and not publicly accessible. Closed-source AI models, like OpenAI’s ChatGPT, restrict modifications and are controlled by the developer.
AI that can recognise and analyse images, much like a security camera that identifies faces or a tool that scans receipts for accounting.
AI systems that interact human-like, like a well-trained sales associate engaging customers in meaningful conversations online.
A more advanced form of machine learning mimics how the human brain processes information, like how a skilled marketer refines campaigns based on audience reactions over time.
The specialised knowledge needed to train AI effectively in a particular industry much like how a real estate expert understands market trends better than a generalist.
AI that creates new content, such as blog posts, social media captions, or images—think of it as an always-available creative intern.
The awareness that AI can reflect human biases is much like ensuring the hiring process is fair and inclusive.
A subset of AI that learns from data over time, similar to how a salesperson refines their pitch after multiple client interactions. Our client Learn2Discover at UCL, runs online courses tailored for health, disease and bioscience.
An AI model is a system trained to make decisions or predictions based on data. Think of it as a recipe that takes ingredients (data) and follows a structured process to create an output. Different models are designed for various tasks. For the website or app, ChatGPT is a too,l but the model would be ChatGPT-4o or 03 mini etc. The same with Deepseek R1 being a model that can run on Ollama, Perplexity or other tools.
AI’s ability to understand and process human language, similar to a chatbot or voice assistant, allows it to answer customer inquiries without needing a human rep.
Software where the source code is freely available for anyone to view, modify, and distribute. Open-source AI models, such as Meta’s Llama, encourage collaboration and transparency.
AI-driven customisation of marketing messages and product recommendations, akin to a barista remembering your usual coffee order. Businesses need to ensure they are capturing interaction and purchase data so they can better serve their visitors. This has to be handled sensitively and with permission, but the end goal is to provide a better product or service.
Using AI to forecast trends and customer behaviour similar to how an experienced shop owner knows what products will sell best in different seasons.
AI systems must handle data responsibly, protecting customer information—much like securing financial transactions in an online store.
A technique where an AI model searches a knowledge base for relevant information before generating its response, combining the accuracy of retrieved facts with the fluency of language generation.
AI that reads customer feedback and social media comments to gauge public opinion, similar to a business owner listening to customer chatter in a café.
AI that understands spoken language, like Siri or Alexa, acts as a digital receptionist taking voice commands.
I hope you found our AI Glossary for Business Owners & Marketers helpfull. If you need support in integrating AI into your strategy or understanding how it can benefit your business, we are here to help. Get in touch to explore how AI can drive growth and innovation in your industry.
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