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This is going to be a fun edition…

Maybe somewhat long for some, so feel free to skip to the parts most relevant to you.

It’s basically meant to help you understand some of the most common terms and concepts of AI.

By the end, you should know some more.

Let’s dive right in!

What is an AI Model?

An AI Model is the computer program trained to recognise patterns and make decisions based on data. Basically, it learns from experience. The more data it gets, the more accurate its predictions and decisions.

What is Training an AI Model?

Training an AI Model = feeding it large amounts of data to adjust parameters and improve accuracy. How it works?

• Gather large amounts of relevant, high quality data

• Clean, format, and organise the data into the right format

• Determine structure and complexity of the AI Model (layers, activation functions, other parameters)

• Feed pre-processed data to the model

• Test performance on a separate validation dataset and make adjustments to the model’s architecture or training process as needed.

What is Generative AI?

Generative AI = AI systems that can create new content. They can also combine and synthesize different types of content through Multimodal AI (image, text, audio) simultaneoulsy.

What is OpenAI?

OpenAI is one of the leading organisations in the field of AI. They are behind ChatGPT and are making it easier to help organisations and individuals to implement AI in everyday use.

What are LLM’s?

Large Language Models (LLM’s) are advanced AI systems that were trained on vast amounts of text data.

They are built on a special type of machine-learning architecture known as Transformer and can understand and generate human-like text.

Some examples are: GPT3 and GPT4 from OpenAI, Claude from Antrophic, LaMDA from Google, and Llama 2 and Llama 3 from Meta.

What is Prompt Design?

Prompt design is the art of crafting high quality prompts and is crucial for obtaining results that are accurate and relevant to the context of your work.

It is often confused with Prompt Engineering, which is different, yet has been adopted as a bit of an umbrella term.

Prompt Design includes setting the right context, providing enough detail, and employing an appropriate tone when using an Agent such as ChatGPT.

This is a skill you should learn!

The key advantages of learning how to properly execute a prompt are mainly to:

• Provide the Agent with a better context - allowing to give better indication of the desired output to be generated

• Adjusting levels of detail provided - by adjusting the prompt, allowing for higher or lower levels of specificity.

• Handling Ambiguity - to generate more accurate responses through more / less constraints and (again) detail.

What is Prompt Engineering?

Prompt Engineering, on the other hand, goes beyond.

We will properly unpack why you might (or might not) need to actually learn how to prompt engineer in the next newsletter, but here’s a quick overview nonetheless.

Prompt Engineering actually involves modifying the AI model to enhance its performance on specific tasks.

This means: incorporating pre-defined rules, data augmentation (like filtering / segmenting the data fed to the model) and tuning prompts by analysing outputs and repeatedly making the modifications to achieve desired outputs.

Easy to say that: it is more complex and not necessary if you are just looking to use ChatGPT.

So keep this in mind when you are looking for courses and to learn how to use AI properly.

Good news is.. We’ve got you covered!

Instead of spending money on Prompt Engineering courses you might not need, why don’t you check out the free course by GrowthSchool that will not only help you discover prompting techniques, but will also help you discover 20+ other AI tools that are not ChatGPT!

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What is an API?

API stands for application program interfaces. If that does not help you understand it better, here’s an explanation for dummies:

It is the way that computers and software communicate with one another. For example, APIs can link a website with payment software. Or, they can link a subscriber form to a backend software and seamlessly glue it together.

What does NLP stand for?

Natural Language Processing is a branch of AI that allows computers to understand and respond to and in the form of human language.

What are No/Low Code Tools?

No/Low Code tools are platforms that allow you to create full-fledged websites or applications without the need for custom coding. For example:

• Website builders

• Web-App builders

• Marketplace builders / Online Shops

• and much more

No-code is a movement grounded in the belief that technology should be accessible to all rather than limited to those with specialist knowledge. It is Faster, Cheaper, and more accessible than a custom-built solution and, thus, a great way of starting out.

Knowledge Base

A knowledge base is a centralized repository of information made up of several types of content. It is where you store your company data, including text, images, dates, emails, numbers, etc.

The difference between a database and a knowledge base is that a knowledge base contains information and insights organized to help users find solutions and make decisions, while a database stores structured data for efficient retrieval and management.

A strong knowledge base and knowledge management practice will allow your organization to be more refined and deliver better and faster services.

Custom Knowledge Chatbot

This is a Chatbot that has been given specific information about your business to answer questions accurately. This allows it to provide accurate and relevant responses to customer inquiries based on your unique data and knowledge.

Like a well-trained customer service representative who knows everything about your product and services.

Understanding AI terminology is not only helpful but necessary in today's rapidly changing technology world.

Educating yourself about AI can help you identify potential benefits for your business and can empower your business to innovate, remain competitive, and fully leverage artificial intelligence.

Don’t be intimidated – explore and learn more about AI today by exploring our community platform at the AI Leadership Forum!

This Week in AI

• AI robotics startup raises US$300 million, including from Jeff Bezos;

• OpenAI is developing a new AI project, "Strawberry," to enhance its models' reasoning capabilities;

• Meta is set to launch Llama 3 450B - competing with OpenAI’s GPT4.