Collective intelligence (CI) is shared or group intelligence (GI) that emerges from the collaboration, collective efforts, and competition of many individuals and appears in consensus decision making. The term appears in sociobiology, political science and in context of mass peer review and crowdsourcing applications. It may involve consensus, social capital and formalisms such as voting systems, social media and other means of quantifying mass activity. Collective IQ is a measure of collective intelligence, although it is often used interchangeably with the term collective intelligence. Collective intelligence has also been attributed to bacteria and animals.
It can be understood as an emergent property from the synergies among:
data-information-knowledge
software-hardware
individuals (those with new insights as well as recognized authorities) that continually learns from feedback to produce just-in-time knowledge for better decisions than these three elements acting alone
Or it can be more narrowly understood as an emergent property between people and ways of processing information. This notion of collective intelligence is referred to as "symbiotic intelligence" by Norman Lee Johnson. The concept is used in sociology, business, computer science and mass communications: it also appears in science fiction. Pierre Lévy defines collective intelligence as, "It is a form of universally distributed intelligence, constantly enhanced, coordinated in real time, and resulting in the effective mobilization of skills. I'll add the following indispensable characteristic to this definition: The basis and goal of collective intelligence is mutual recognition and enrichment of individuals rather than the cult of fetishized or hypostatized communities." According to researchers Pierre Lévy and Derrick de Kerckhove, it refers to capacity of networked ICTs (Information communication technologies) to enhance the collective pool of social knowledge by simultaneously expanding the extent of human interactions.
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The wisdom of the crowd is the collective opinion of a diverse independent group of individuals rather than that of a single expert. This process, while not new to the Information Age, has been pushed into the mainstream spotlight by social information sites such as Quora, Reddit, Stack Exchange, Wikipedia, Yahoo! Answers, and other web resources which rely on collective human knowledge. An explanation for this phenomenon is that there is idiosyncratic noise associated with each individual judgment, and taking the average over a large number of responses will go some way toward canceling the effect of this noise.
Collective memory refers to the shared pool of memories, knowledge and information of a social group that is significantly associated with the group's identity. The English phrase "collective memory" and the equivalent French phrase "la mémoire collective" appeared in the second half of the nineteenth century. The philosopher and sociologist Maurice Halbwachs analyzed and advanced the concept of the collective memory in the book Les cadres sociaux de la mémoire (1925).
The Wisdom of Crowds: Why the Many Are Smarter Than the Few and How Collective Wisdom Shapes Business, Economies, Societies and Nations, published in 2004, is a book written by James Surowiecki about the aggregation of information in groups, resulting in decisions that, he argues, are often better than could have been made by any single member of the group. The book presents numerous case studies and anecdotes to illustrate its argument, and touches on several fields, primarily economics and psychology.
Knowledge management (KM) is the collection of methods relating to creating, sharing, using and managing the knowledge and information of an organization. It refers to a multidisciplinary approach to achieve organizational objectives by making the best use of knowledge. An established discipline since 1991, KM includes courses taught in the fields of business administration, information systems, management, library, and information science. Other fields may contribute to KM research, including information and media, computer science, public health and public policy.
Venture capital (commonly abbreviated as VC) is a form of private equity financing that is provided by venture capital firms or funds to startups, early-stage, and emerging companies that have been deemed to have high growth potential or which have demonstrated high growth (in terms of number of employees, annual revenue, scale of operations, etc). Venture capital firms or funds invest in these early-stage companies in exchange for equity, or an ownership stake.
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