Glossary
L
6 entries beginning with L, the same definitions the articles use.
Lagging indicator
The historical record confirming what has already happened, such as revenue, margin, retention, and delivery against plan; essential for context but insufficient on its own for foresight.
Related: Measuring AI value: A strategic framework for Boards and business leaders
See also:Leading indicatorPredictive indicatorMaximum Fidelity
Large language model
An AI model trained on vast text datasets that excels at contextual understanding and content generation but struggles with precision-dependent workflows, numerical reasoning and multi-step processes requiring consistent execution.
Related: AWS launch Meta Llama 3 on Amazon BedrockSelecting your enterprise LLM: Moving beyond the hype to make the right choice
Leading indicator
An inferential signal based on patterns that tend to precede outcomes, such as pipeline movement or sentiment shifts; more forward-looking than lagging indicators but capable of being wrong.
Related: Measuring AI value: A strategic framework for Boards and business leaders
See also:Lagging indicator
Leverage
Rumelt’s principle of concentrating resources on capabilities that accelerate the whole organisation, so each investment generates value across multiple initiatives rather than serving a single project.
Related: A Complete AI Adoption Framework: AISA, Five Pillars, and Well-Advised
Like-for-like sales
A retail measure comparing sales from equivalent stores across periods, stripping out the effect of openings and closures to show underlying trading performance.
Loop
The cycle an autonomous system runs, acting, observing the result, adjusting and acting again, without waiting for a human at each turn. It is what separates an agent from a single answer, and it is the point at which oversight has to be designed in deliberately, because once a loop is running no one is prompting it.
Related: Completing the AI Strategy Journey: From Policy to Practice Through Coherent ActionsThe Compound Loop: Why Agentic AI's Real Power Lies Beyond Generative AI
See also:Harness
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