Definitions:
- Edge Computing: The practice of processing data near the edge of the network, where the data is being generated. Edge computing involves moving computation and data storage closer to the sources of data, such as IoT devices, to reduce latency and improve performance. This is particularly useful for applications that require real-time data processing and low-latency responses.
- Enterprise Resource Planning (ERP): A business process management software that allows an organisation to use a system of integrated applications to manage the business and automate many back-office functions related to technology, services, and human resources. ERP systems integrate various business processes, including finance, procurement, project management, and supply chain operations, to provide a unified view of the organisation's data and operations.
- Ethical AI: The development and use of artificial intelligence technologies in ways that are fair, transparent, and accountable. Ethical AI involves ensuring that AI systems are designed and deployed in a manner that respects privacy, avoids bias, and promotes social good. It includes considerations such as data governance, algorithmic transparency, and the ethical implications of AI decisions.
- Event-Driven Architecture (EDA): A software architecture paradigm promoting the production, detection, consumption of, and reaction to events. Event-driven architecture decouples components by using events to trigger actions, allowing for more flexible and scalable systems. This is particularly useful in real-time applications, such as financial trading systems, IoT, and microservices architectures.
- Explainable AI (XAI): The ability of artificial intelligence to explain its decisions and actions in a way that humans can understand. Explainable AI focuses on making the inner workings of AI models transparent and interpretable, enabling users to trust and verify the decisions made by AI systems. This is crucial in fields such as healthcare, finance, and legal services, where the rationale behind decisions needs to be clear and justifiable.
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