Demystifying Artificial Intelligence in Financial Aid
Explore the use of Artificial Intelligence (AI) in financial aid offices, its applications in higher education, threats, opportunities, and future prospects. Understand the role of AI in tasks requiring human intelligence, such as decision-making and language translation. Delve into the theory, development, and practical applications of intelligent machines and computer programs in financial aid processes.
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DONT BE SPOOKED BY FINANCIAL AID, FIND YOUR home IN SCASFAA Artificial Intelligence in Financial Aid: Hocus Pocus or Practical Magic? Samantha Hicks, Ed.D. Assistant Vice President of Financial Aid and Scholarships Coastal Carolina University
DONT BE SPOOKED BY FINANCIAL AID, FIND YOUR home IN SCASFAA Agenda Introduction to Artificial Intelligence (AI) AI Applications in Higher Education Role of Artificial Intelligence in Financial Aid Offices Threats & Opportunities of Artificial Intelligence Case Studies/Examples Future Prospects Q&A
DONT BE SPOOKED BY FINANCIAL AID, FIND YOUR home IN SCASFAA Introduction to Artificial Intelligence (AI)
DONT BE SPOOKED BY FINANCIAL AID, FIND YOUR home IN SCASFAA Introduction to Artificial Intelligence (AI)
DONT BE SPOOKED BY FINANCIAL AID, FIND YOUR home IN SCASFAA What is Artificial Intelligence? The theory and development of computer systems able to perform tasks that normally require human intelligence, such as visual perception, speech recognition, decision-making, and translation between languages. Oxford Langues It is the science and engineering of making intelligent machines, especially intelligent computer programs. It is related to the similar task of using computers to understand intelligence, but AI does not have to confine itself to methods that are biologically observable John McCarthy (American computer scientist, coined the term Artificial Intelligence )
DONT BE SPOOKED BY FINANCIAL AID, FIND YOUR home IN SCASFAA What is Artificial Intelligence? At its simplest form, AI is a field, which combines computer science and robust datasets to enable problem-solving. It also encompasses sub-fields of machine learning and deep learning, disciplines comprised of AI algorithms which seek to create expert systems which make predictions or classifications based on input data. IBM Definition
DONT BE SPOOKED BY FINANCIAL AID, FIND YOUR home IN SCASFAA What is Artificial Intelligence? Using computers to do things that normally involve human intelligence. Humans use their senses to process environments. Brain sees patterns, makes predictions, and results in actions. Identify Patterns Make Predictions Recommend Actions Collect Data Computers through algorithms use large data sets to identify patterns, make predictions, and recommend actions.
DONT BE SPOOKED BY FINANCIAL AID, FIND YOUR home IN SCASFAA What is Artificial Intelligence?
DONT BE SPOOKED BY FINANCIAL AID, FIND YOUR home IN SCASFAA What is Artificial Intelligence?
DONT BE SPOOKED BY FINANCIAL AID, FIND YOUR home IN SCASFAA Generative Modeling
DONT BE SPOOKED BY FINANCIAL AID, FIND YOUR home IN SCASFAA Examples of Artificial Intelligence Speech recognition Customer Service (virtual agents, messaging apps) Computer Vision (providing recommendations from images, videos, photo tagging in social media, radiology imaging, etc.) Recommendation engines using consumption behavior data to make recommendations Google predictive search
DONT BE SPOOKED BY FINANCIAL AID, FIND YOUR home IN SCASFAA Students Using Artificial Intelligence Quizgecko creating their own quizzes to study. Aragon AI creating headshots Grammarly improve writing skills Woot Math TutorMe ChatGPT
DONT BE SPOOKED BY FINANCIAL AID, FIND YOUR home IN SCASFAA AI Applications in Higher Education Adaptive systems and personalization Performance evaluation and personalized assistance and feedback Assessment and evaluation Ex. Transfer evaluation, Automated Essay Scoring, Automatic Grading Profiling and Prediction Learner models Ex. Likelihood of a student dropping out of a course (Beacon) Predictor of enrolling after being admitted Academic achievement predictions Intelligent Tutoring Systems Ex. StuA interactive virtual assistant that answers questions of students.
DONT BE SPOOKED BY FINANCIAL AID, FIND YOUR home IN SCASFAA AI Applications in Financial Aid Chatbots ChatGPT/BARD PowerPoint Designer Grammarly Canva Scheduling Training Data Modeling
DONT BE SPOOKED BY FINANCIAL AID, FIND YOUR home IN SCASFAA Threats of Artificial Intelligence AI Will TAKE OVER! Dehumanization no empathy no personalization Costs Staff Training Inaccurate or Biased AI models LIMITATIONS! Intellectual property Privacy/Security Unintentional Data Exposure Personal information stored and analyzed Sharing PII, FERPA protected data
DONT BE SPOOKED BY FINANCIAL AID, FIND YOUR home IN SCASFAA Opportunities of Artificial Intelligence Competitive advantage by personalization Data Privacy & Collection Policies Established Data Literacy Promotion of Culture of Privacy Awareness Efficiency Reduced workload 24/7 availability Scalability Consistency in responses Improved Student Satisfaction
DONT BE SPOOKED BY FINANCIAL AID, FIND YOUR home IN SCASFAA ChatGPT
DONT BE SPOOKED BY FINANCIAL AID, FIND YOUR home IN SCASFAA Case Studies Personalized Learning Topic Exploration. Debating with AI to gain perspective. Value of role-based answers. Jump start a draft letter, SAP Appeal letter example, training manual, training plan Predictive analytics student financial need, withdrawals, etc. Automated processes integration of Slate & Colleague. Fraud detection - flagging suspicious application patters or discrepancies in financial documents. Natural Language Processing (NLP) Technology Virtual Financial Aid Workshops Scheduling & Appointment Management Project Plans Social Media Calendar & Content Training 80/20 rule. Plan Travel Finding Common Themes pasting text of emails Multilingual support
DONT BE SPOOKED BY FINANCIAL AID, FIND YOUR home IN SCASFAA Other Tools Loopin HQ AI Meeting Assistant saves meetings notes and shares LOVOLabs faceless content creation (videos) howto videos HeyGen & Canva more video content.
DONT BE SPOOKED BY FINANCIAL AID, FIND YOUR home IN SCASFAA Q&A/IDEA SHARING P.S. ChatGPT Built this Presentation!
DONT BE SPOOKED BY FINANCIAL AID, FIND YOUR home IN SCASFAA If it takes 200 years to achieve artificial intelligence and then finally there s a textbook that explain how it s done, the hardest part of that textbook to write will be the part that explains why people didn t think of it 200 years ago. - John McCarthy
