AI

Practical Law ANZ Glossary w-039-9094 (Approx. 3 pages)

Glossary

AI

An engineered system using mathematical and statistical algorithms and other strategies that generate predictive outputs such as content, predictions, recommendations or determinations for a given set of human-defined objectives or parameters without explicit programming. AI systems are designed to operate with varying levels of automation. Numerous industries and sectors use AI products to some extent with usage expected to expand rapidly in the future as a result of recent developments in computing science.

Some of these algorithms and strategies include:

AI has been applied to achieve a variety of tasks. Some notable examples include:

Natural language processing (NLP) including large language models (LLMs).
Multimodal foundation models (a type of generative AI that can process and output a variety of data types such as text, images and audio).
Automated decision-making (the application of automated systems in any part of the decision-making process).

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