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AI in Business: Plain-Language Glossary

Twenty-four terms explained with links to practical chapters and worked examples.

Updated

These short definitions help you read the guide. Open the linked chapter for qualifications and worked examples. Product labels can differ, so establish what the actual application does.

TermMeaning in this guideRead more
AgentA system that uses a model to choose some next steps within a task and application limits.Chapter 34
APIAn interface through which software requests data or operations from another system.Chapter 34
AutomationSoftware that carries out a defined task or sequence under specified rules.Chapter 32
Authoritative sourceThe record or approved document a business uses to establish a particular fact or state.Chapter 8
BaselineThe defined comparison condition, with its measured results distinguished from assumptions.Chapter 5
Cash flowCash received and paid during a defined period.Chapter 27
Confabulation or hallucinationGenerated content that is false or unsupported; fluent wording does not establish evidence.Chapter 9
ContextInformation available to the model for the current task.Chapter 35
ContributionRevenue less the explicitly included variable costs; the cost scope must be stated.Chapter 23
EBITDAEarnings before interest, taxes, depreciation, and amortization; it is not cash flow.Chapter 26
EvaluationA documented assessment against criteria for the intended task.Chapter 9
Fine-tuningAdditional training that changes model parameters; adding a source document need not do this.Chapter 8
GuardrailA constraint or check on behavior or outcomes; its actual enforcement must be understood.Chapter 18
Human reviewAn accountable inspection of a specific result against the necessary sources and criteria.Chapter 9
IdempotencyDefined handling that lets the same intended request be repeated without an additional effect.Chapter 32
MCPModel Context Protocol: a protocol for connecting AI applications with context and capabilities.Chapter 34
PromptInstructions and supplied context for a model task.Chapter 7
Prompt injectionInstructions embedded in an input or retrieved source that attempt to redirect the assistant.Chapter 33
RAGRetrieval-augmented generation: supplying retrieved information to support generated answers.Chapter 8
ROISpecified benefit minus specified cost, divided by that cost; the period and benefit view matter.Chapter 26
RPORecovery point objective: the point in time to which data must be recoverable.Chapter 39
RTORecovery time objective: the target recovery duration for a defined capability.Chapter 39
Staff capacityTime available for other work; it does not automatically reduce cash expenditure.Chapter 26
WorkflowA defined arrangement of steps, dependencies, review, actions, and exception handling.Chapter 32