Glossary Terms

Training Set

Data used to fit a model’s parameters. Assess its quality, permissions and representativeness, and keep appropriate evaluation data separate to avoid overstating performance.

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Turing Test

A historical test of whether a machine’s conversational behaviour can be distinguished from a person’s. It is not a sufficient measure of reliability, usefulness or suitability for a business workflow.

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Underfitting

When a model fails to capture relevant patterns sufficiently well, including in its training data. Investigate the model, features and data rather than assuming more training alone will solve the problem.

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Validation Set

Data used to guide model selection or tuning during development. Because it informs those choices, it should remain separate from a final test set used for independent evaluation.

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Value Chain

The connected activities through which an organisation creates and delivers value. Examine dependencies and handoffs to assess whether an AI-enabled change improves the wider process rather than an isolated task.

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