"Humans vs. Machines: Untangling the Tasks AI Can (and Can't) Handle"The article above is one about advanced intelligence and how to correctly use it to innovate processes. The article writer also did an experiment with 758 people to test theories on how efficient AI is.
I found the idea of testing how efficient ChatGPT really is to be intriguing because many people use it as a shortcut to everyday tasks. In the experiment they found that people using AI finished more than non-AI users by 12% at 75% of the time. I found this interesting because with the use of AI these people are able to improve the quantity and efficiency of doing their work. This is very important for innovation as lots of innovation can be made to the manufacturing or design process and being able to do that much more work than humans previously could is a major step up. The article also explains how AI is not perfect just yet as it cannot do extremely complex jobs for people however, for the simpler jobs it can also increase the quality of the final results. Something the article taught me that I will make sure to remember is what it says at the end. It doesn't tell us to replace ourselves with advanced intelligence but instead that we should decide to use it where it will be most efficient and to make sure anyone who uses it knows how to use it correctly. In the end, this article taught me that ChatGPT, if used in the right way, can improve your simple work in every manner; however, it cannot replace us in the more challenging things.
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"When Experts Play It Too Safe: Innovation Lessons from a NASA Experiment" by Rachel Layne - September 12, 2022The article above was written by Rachel Layne and is about Nasa hosting competitions for innovations for robotic arms. The article is about how experts chose the easy to use ideas to win the competition rather than taking a shot at the harder ideas that may lead to a great break through in technology. This article had a few meanings to me. Firstly, it tells me that even in businesses as big and as groundbreaking as NASA that they would rather slow and steady innovation than the potentiality of huge breakthroughs. It also meant to me that the technology we have today is limited by the people who limit NASA. As many people know, the reason we have cellphones as tiny, compact, and as useful as they are is because of NASA trying to scale down technology to bring to the moon. It really surprises me how similar it is to my group projects in French class last year, they always took the easy way out instead of trying to go above and beyond and that is the same thing NASA was doing with these competitions. It was really intriguing to me that NASA's experts would so easily toss aside an idea just for it's uniqueness, if I was the expert I would consider all ideas equally even if I didn't understand one. At the end of the article the writer explains that feasibility and novelty are two very distinct things where one shouldn't decide the other and that you should know how far you need to get with these innovations and take risks if needed. The article in it's entirety was very interesting and I had no idea even the experts at NASA were lazy.
"For Entrepreneurs, the Benefits of Slowing Down" by Jeffrey Bussgang - July 16 2021The article was titled: “For Entrepreneurs, the Benefits of Slowing Down.” It is all about entrepreneurship and ideas you should consider following this summer to improve your company's overall wellbeing. Some of the ideas are paying off your debts, being different and creative, building connections with others and more. I found this article to be interesting as it taught me a few new things that opened my eyes to entrepreneurship. Firstly, the article talks about slowing down in order to stand out from competitors as you can use that extra time you have to bring new ideas to the table. I thought this was really interesting because the article says doing this is best even if you’re doing really well already. The article was also super intriguing as it said: “The team that got you here may not be the team that will get you there.” and to consider improving your staffing and maybe even replacing them. This stood out to me because even though that staff may have brought you great success to this point it doesn’t guarantee that they will continue to do so, and sometimes replacing the staff is most beneficial. In the next point under the article they talk about expanding your horizons and consider launching new products/services and maybe even consider turning into a partnership. I wouldn’t regularly think about this as if my business was very successful, I would keep doing things mostly in the same way, however this article has taught me that you can and should set your horizons ever farther. I can use this information in the future for when I own my business, I can always improve and sometimes the people you have today won't be the ones to take you to tomorrow, and slowing down may also be beneficial and needed.
"The Auditing Oligopoly and Lobbying on Accounting Standards" by Abigail M. Allen, Karthik Ramanna and Sugata Roychowdhury - April 16, 2013 The article above is about auditing oligopoly and how that affects accounting and its standards. The article goes on to further explain how the people who set the standards for accounting, auditors, are leaving the business field. There used to be eight main auditor businesses and now they’re down to just four. This article had a very interesting point where they state that the larger auditors are changing to be better and more efficient, which affects accounting standards and in result can change our entire economy. I also found auditing oligolopy very interesting as I only just learned about how they are so crucial and are such an important variable for the accounting industry. As someone with several family members in the accounting profession I can find it very important to keep up with the changes in this industry as it directly impacts their daily jobs. It connects to my life because it gives me something to talk to them about regarding their personal interests. This article brings about more curiosity for me as it makes me wonder about how if this is tightening and competition may decrease wont the auditing progress never improve because theirs a saying “Necessity is the mother of invention.” this means that if theirs no necessity or driving factor for the industry to improve this industry will be the same forever. I also found this article very interesting as auditors have great connections with accounting.
"Making the Decision to Franchise (or not)" by Julia Hanna - July 28, 2008This article is entirely about the pros and cons of franchising and research done about franchising. The website covers a few topics: minimizing risk by giving up partial control, how a store is different when it is franchised or not, and, a difference in pay when franchised or not. I found this article very intriguing as it had done some research explaining how franchising affects a business. Firstly, I learned that franchising reduces risk because someone else is running your business. That was interesting because you can have someone make you money while not being liable for bankruptcy. Secondly, this article was also intriguing because it taught me a new way to use franchising to improve my business. The article explains how franchising when your business is across a diverse market, will allow you to gather more demographically diverse customers because different people will bring different ideas to the table that draw in dissimilar customers. I found it very interesting and I can use these teachings later on in life, even if not in a business setting. I can connect these ideas to working in groups in class because allowing other people to take control of the group's ideas will lead to a new way of thinking and maximizing our efficiency. Another connection to where I can use these ideas in real life is when working in a part-time job. As of now, I have no job experience, and when I apply later on down the road, observing the differences between the daily operations will help me bring good to the business.
January 17, 2023 - "8 Trends to Watch in 2023" by Avery FormanThe article my second blog post is about is called: “8 Trends to Watch in 2023” by Avery Forman. The article is all about what business trends you should keep an eye out for as a sole proprietorship. The article talks about rehiring people with great talent, building trust with employees, challenges and obstacles for entrepreneurs, improving incentives, investors being not-so-sure, worldwide working, strategies for operating, and new businesses being priced lower. This article had several pieces that stood out to me. Firstly, when working with people who bring success why switch? The article explains how in times when businesses may struggle the best thing to do is to use what is most effective and not reinvent the wheel. I also found it interesting that sole proprietorships should build employee trust, this made me think that outside of working next to each other, if you increase the trust between employees they are far more likely to improve your business at a greater rate. I found the next modernizing incentive systems to be a good way to make your business better than your competitors because some people would rather benefit from extra perks than the extra cash on top of your paycheck. It stood out to me because if you're a new sole proprietor looking to be successful, individually beneficial incentives would be much preferred over other jobs simple raises in my opinion. I can link the seventh trend, strategies for operating, to my life through school, I try to optimize my time management to the best of my ability to make sure I get the best results, similarly in a workplace you would want to spend your time more efficiently to make more profit. Overall, the website helped me further learn about running a successful business with how you should always keep an open mind and always think about your employees as they are the ones who help your business flourish.
January 17, 2024 - "Psychological Pricing Tactics to Fight the Inflation Blues" by Jay Fitzergerald The article I read today in class is all about making the right pricing decisions to have your consumers walk away with your product thinking they made the best decision. It goes over a multitude of pricing strategies such as tiered pricing strategies where you have different levels of pricing to advertise to everyone, buy one get one free discount, discounts, charm pricing, and subscription paying lower reoccurring payments rather than a large one-time payment.
While reading this article I found that the charm pricing part was most intriguing and surprising because it explains that as much as charm pricing doesn’t really work anymore, if you were to have a price ending in .00 you stand out in the bad way. I took away a few things from this article, firstly, the buy one gets one free discount is a pricing method to get people to not pay attention to the price of the first one because they would focus more on the second price. Secondly, you can justify your higher prices to your consumers and that communication will allow you to maintain these prices. Lastly, subscription payments is a payment method that gets more money out of the consumer. The total cost for a subscription payment is more than the total upfront cost you would have paid if you paid upfront. I can relate each of the pricing tactics to what we have learned in class starting with tiered pricing that has to do with demographics because you are targeting different groups of people. Buy one get one free and regular discounts have to do with promotion and price which are two of the marketing mix P’s. Charm pricing can be related to the psychographics because it’s considered normal now. Finally, subscription payments have to do with price because it’s a pricing strategy which gathers more willing consumers. Overall, this article was informative about our marketing unit and helps me further my understanding of what we have learned thus far. Digital citizenship is your online profile, it’s everything you are online from your social media platforms to your blogs you make in class; your digital citizenship is also frequently used when your employer is researching you. It is important to have good digital citizenship because when you apply for a job or people want to learn more about you, they can simply search up your name on google and that can seriously influence your employers’ thoughts on you. Even though your posts may be looked poorly upon I would still post because if you have no digital footprint, it looks like you aren’t a real person because everyone uses the internet in today’s society. Posting online has several positives because it can portray a positive image of yourself and make you look better. While your digital citizenship can make you look bad it can also do the opposite and make you look bad, it could portray you as a bad person if you cyberbully, it could show others you’re not really who you say you are, and more. It is important to remember the potential impacts of your digital footprints and rethink your posts before posting them. It is highly important to always T.H.I.N.K. before you act: Is what your posting True? Is it Helpful? Is it inspiring? Is it Necessary? Lastly, is it Kind?
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AuthorNoah Rivers Archives
April 2024
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