What is meant by AI Project Cycle? Name the different phases of AI Project Cycle.

The AI Project Cycle is a structured process involving various phases guiding the development and deployment of AI solutions for specific tasks or problems.

The different phases of AI Project Cycle are:

1. Problem Scoping — Defining the problem and objectives.
2. Data Acquisition — Gathering relevant data.
3. Data Exploration — Analysing and understanding data.
4. Modeling — Training AI models on data.
5. Evaluation — Assessing model performance and refining it for accuracy.