Here are a few of the top tech terms you need to be familiar with!

Algorithmic bias

Algorithmic bias refers to the lack of fairness in the outputs generated by an algorithm. These biases may include age discrimination, gender bias, and racial bias.

Algorithmic biases could intensify the inequalities among people and affect their lives. Another risk is that a person’s chances of landing a job that they deserve could be reduced, simply because they belong to a group that the algorithm is biased against.

Concept drift

In machine learning, predictive modeling, and data mining, concept drift is the gradual change in the relationships between input data and output data in the underlying problem. The ‘concept’ in question is the unknown and hidden relationship between input and output variables.

Computational complexity theory

Computational complexity theory is a branch of theoretical computer science. It’s main goal is to classify and compare the practical difficulty involved in solving computational problems about finite combinatorial objects.

Satisfiability

In mathematical logic, particularly, first-order logic and propositional calculus, satisfiability and validity are elementary concepts of semantics. A formula is satisfiable if there exists a model that makes the formula true. A formula is valid if all models make the formula true.

Bees Algorithm

In computer science and operations research, the bees algorithm is a population-based search algorithm which was developed by Pham, Ghanbarzadeh et al. in 2005. It mimics the food foraging behaviour of honey bee colonies. In its basic version the algorithm performs a kind of neighbourhood search combined with global search, and can be used for both combinatorial optimization and continuous optimization.

N-gram

N-gram is simply a sequence of N words. For instance, a 2-gram (or bigram) is a two-word sequence of words like “please turn”, “turn your”, or ”your homework”, and a 3-gram (or trigram) is a three-word sequence of words like “please turn your”, or “turn your homework.”

Voice user interface

Voice user interface (VUI) is the means of interacting and using a computer system such as a mobile application or a website by using voice in addition to or instead of touch, keyboard, or a mouse. It makes spoken human interaction with computers possible, using speech recognition to understand spoken commands and answer questions and type text to speech to play a reply.

Proof Of Concept

A proof of concept (PoC) is evidence that an idea or a concept (usually a product idea) can be applied in the real world. It tends to be a document or a presentation that that project managers use to demonstrate how feasible an idea is and whether it justifies the costs involved in making that idea a reality.

Customer Effort Score

Your customer effort score (CES) is a metric that helps you understand the level of effort that you are making your customers undergo in order to do business with you. You can find your CES by carrying out a survey that asks customers to rate how easy it is for them to interact or do business with your company.

Spiking neural network

Spiking neural networks (SNNs) are artificial neural networks that more closely mimic natural neural networks. In addition to neuronal and synaptic states, SNNs incorporate the concept of time into their operating model.

Cognitive architecture

Cognitive architecture is a theory about the structures that create a mind in natural or artificial systems. It focuses on how these structures work with each other and use the knowledge and skills that are incorporated into the architecture to create and manage intelligent behavior in various complex environments.

Customer Experience Strategy

A customer experience strategy is a plan and system that you put in place to create and deliver positive customer experiences that inspire loyalty and advocacy. It involves creating great customer experiences across all touchpoints and interactions.

Canned Responses

Canned responses are pre-written answers to commonly asked questions that you can use during an interaction, by either reading the response to a customer, or by inserting the response into a chat, email, or tweet.

Automated Speech Recognition

Automatic Speech Recognition or ASR, as it’s known in short, is the technology that allows human beings to use their voices to speak with a computer interface in a way that, in its most sophisticated variations, resembles normal human conversation.

Ecommerce Funnel

An eCommerce funnel or an eCommerce conversion funnel is a way of understanding your customer journey on your eCommerce portal. It flows from awareness to conversion and beyond to loyalty and advocacy.

Smart responses

A Smart Response is a tool used by Engati to streamline the current chatbot setup experience and to make it easier for you to set up a chatbot as quickly and effectively as possible. You can set up answers to probable queries by setting up FAQs, defining Entities, uploading questions and responses in a Tabular Input format, or uploading relevant documents in Document Lookup.

Recurrent neural network

Recurrent Neural Network(RNN) is a type of Neural Network where the output from previous step are fed as input to the current step. In traditional neural networks, all the inputs and outputs are independent of each other.

Thompson sampling

Thompson sampling is an algorithm that uses ​​exploration and exploitation for the purpose of choosing the actions that would maximize the rewards earned. It is also known as Probability Matching or Posterior Sampling.

Average Handling Time

The meaning of average handling time or average handle time (AHT) is essentially the average amount of time spent on a customer support conversation. It is usually calculated for call centers and includes the entire amount of spent on the conversation from the time your customers initiate the calls to the time they end them. It also includes the time spent on holds and transfers, as well as time spent on after-call tasks.

Customer Experience Transformation

Customer experience transformation is the act of enhancing your customer experience substantially by streamlining and improving the interactions that customers have with your business at various touchpoints, and also aligning your entire organization (not just your customer support team) to put customers at the forefront of their activities as far as possible.