How intelligent agents work - Intelligent agents work with a quality of

aritificial intelligence: Aim of artificial intelligence is that how we can build

intelligent agents. Agents are like human beings, machines, robots and programs
and of course agents perform some operations and the first operation it does is
that it senses or percepts through sensors (like humans have eyes, nose, mind and
mouth and tounge) from the environment (Whatever is surrounding of the agent
from which an agent can sense something or percept something). An agent
percept from current environement as well as what an agent already did percept
historically can also be sensed (as that is already saved in the memory) by an
agent at a same time when an agent percepts from current environment. The
second operation that an agent performs is that the agent performs an action,
this action is based on a decision that is taken with the help of programs which
help agents to make decisions with what agents have sensed or percept currently
or historically. A program has sensed information in it and then these programs
(may be algorithms) helps to make decision and based on it agents makes
decision. Actions are output which is called actuators and these actuators
(output) are given through effectors (any element of agents, a device may be,
that is giving output). It is the actuator that enables effectors to affect the
environment and then environment changes through the output.

One definition of artificial intelligence relates computers developing cognitive

functions (developing brain-based skills to acquire knowledge into the machines)
such as learning and problem solving, but other definitions focus on the
perceptions that the AI systems gain from the environment and the actions they
take to fulfil their objectives. Algorithm (a set of rules sequence) is an extended
subset of machine learning that tells the computer how to learn to operate on its
own OR Algorithms can be defined as processes or sequences of steps to be used
in problem-solving operations or for accomplishing tasks. For SBL, just focus that
how AI is being utilised in business areas, no need to focus on how the AI
technology is being implemented in machines and computers and how the
programs are being developed...
Uses of AI - Retail Industry: There are many ways in which AI is being used in
retail, most often to enhance the customer experience: Some of the ways are:
Creation of environment – AI helps retail businesses to learn from each
interaction with customers and improve the digital (website, social media) and
physical environment they offer, adapting in-store displays in line with customer
profiles and evolving the digital displays offered to customers. Changed
relationship with customer – AI enables a continuously-developing relationship
with customers to be established, so that what is offered to customers on their
home page reflects developments in their shopping behaviour (show something in
a way that also reflects in their buying, if you want them to buy something then
you have to show them in a special way). AI can also help facilitate two-way
conversation with customers, answering questions and using the information to
build customer profiles. The data available about customers may not just take the
form of purchase and query records, but also facial or audio responses that reflect
what customers are thinking (customer data also includes a reflection of what
customers think and this reflection is generated through facial or audio
responses).

Guiding purchasing decisions – Automated assistants can build on the

information stored about customers to help them make appropriate
purchasing decisions. Systems development – AI can build on customer
information, using it along with competitor and market information, to
develop supply chain planning, and pricing and promotional strategies.
Product development – the data obtained about customers, not just
purchasing but also feedback and sentiments expressed, can be used to
develop future product and service designs that fulfil current customer
requirements and anticipate future customer needs.

Uses of AI in Other Sectors - Medicine and Healthcare Sector - AI can analyse

huge quantities of patient data in order to help prevent illness, by identifying
people who are particularly at risk and by prompting intervention to reduce the
risk of disease developing. Medical diagnosis AI technology can use information
about a person’s history and genetic (kis nasal ya khandan ka) make-up to
personalise (designed to meet someone's individual requirement) medical
treatment. Transportation – AI-based features are now part of many cars,
including automatic parking systems. More advanced AI is used in self-driving
cars. AI can also assist in route planning, avoiding areas of heavy traffic or poor
road conditions. Agriculture – algorithms designed for crop and soil monitoring
can be used to track the health of crops. AI can also consider climate and other
environmental conditions and, as a result, predict when crops will ripen, assisting
planning. Cybersecurity – AI can help defend against hacking by analysing data to
detect anomalies and allow focus on areas of greatest threat. It can also help by
sorting data into high and low risk information. Read more two sectors from
article.
ML is a part or we can say a subset of AI where AI is a vast area of topics and
ML consists of a small part. AI include problem-solving, learning, and
planning, for example, which are achieved through analyzing data and
identifying patterns within it in order to replicate those behaviors. ML, on the
other hand, is a type of AI, where AI is the overall appearance of being smart,
ML is where machines are taking in data and learning things about the world
that would be difficult for humans to do. ML can go beyond human
intelligence. ML is primarily used to process large quantities of data very
quickly using algorithms that change over time and get better at what they’re
intended to do. The goal of ML is to allow machines to learn from data so that
they can give accurate output. In AI, we make intelligent systems to perform
any task like a human. In ML, we teach machines with data to perform a
particular task and give an accurate result. In SBL, ML involves using
algorithms (a step-by-step procedure for solving the problem) to gain
experience through using data (known as training data) and harnessing (use)
this knowledge to establish relationships or learn how to do particular tasks
without being programmed (a set of instructions for a computer to follow to
perform a task.) to do so. At a more advanced level, computer systems may
be more effective in developing the algorithms needed to complete the tasks
than humans would be.

A key output in machine learning is prediction, where an algorithm has gained

experience on a historical data-set and used the experience to make a
prediction, based on new data, which is a prompt for action. Machine learning
can also provide guidance on actions to take to achieve objectives. One
classification of machine learning is into three types:
Supervised learning – this is based on training data and human
feedback(machines learn through training data and human feedback). It
involves establishing the relationships between specified (for any specific
task) inputs and outputs. Regression analysis (Process for estimating the
relationship between dependent i.e. output - e.g. prediction and independent
value i.e. data input) is a form of supervised learning. Supervised learning has
been used in the fields of bioinformatics (for mapping biological processes)
(bioinformatics, when a software tool or methods are developed to
understand biological data then such process is called bioinformatics) and
developing speech recognition by computers. It also has applications in
personalised marketing of products or services, based on information held in
databases.
Unsupervised learning – this involves establishing patterns between, or
structures in, the specified inputs and therefore being able to classify the
input data. Again there are marketing applications in being able to link
customers who have similar buying histories with attributes that they have in
common, for example age. Reinforcement Learning - A learning through
actions performed where rewards are generated as a result of action,
maximaztion of rewards will help in more learning. It can be most useful in
situations where the input training data is limited or the output (target) cannot
be clearly specified. This means that, in order to learn, the system has to
gain experience through interaction with the environment (means
perform action, get reward/penalty and learn). Read Robotics from
article. Ethics - There are a number of ethical as well as risk and
control issues relating to AI that have been addressed by the world economic
forum. also read it from article.
AI and ML differentiation: suppose that there is one database
installed insiside the car (we can say a built in environment) where
all data relating to car parking system is stored (from past
behaviours of car parking) that how to park a car by checking a
route, now car will sense the current environment (using any
sensors) and then that sensed, current and historical, data will be
used by a machine (installed in the car) and based on the data the
machine will learn and take the decisions using help of
algorathims. Then by using the effectors (may be the device
installed inside the car) those decisons will be applied and the car
then will start and run towards parking and parked... The only red
higlighted part is called machine larning and the other info is an
advanced AI part.
Learning outcome of this article is to "Explore the characteristics of the
media of e-marketing using the 6 ’I’s". Technology and marketing practices
are being evolved and as a result environment is changing so we must learn
the related e-marketing which is the learning outcome of e-business
technology. We will begin with overview of how the characteristics of e-
marketing differ from traditional marketing. Then we will focus on the
practical application of e-marketing in the context of an exam-style
question.The characteristics of e-marketing: the 6 ‘I’s The 6 ‘I’s refer to the
characteristics making e-marketing different from other, perhaps more
traditional, forms of marketing. These characteristics are recognised for their
ability to provide enhanced results from marketing activity.
Introduction - cyber means anything that is connected or a part of
IT system. The security of IT systems will be discussed, assessed and
evaluated in this article. To become effective strategic business leader,
you must have these crucial skills. The issue is that organizations are
spreading the awareness of cyber security risk but not managing it
effectively. Identification of such risk itself is very difficult because many
orgs do not understand the risk themselves leading to frequency in
cyber-attacks. Cost of these attacks are very high in terms of penalty as
org may fall under the breach of data protection act by negligence.

Why does cyber security need special attention? Although cyber

security is best managed as part of an overall risk management
programme, there are four factors that mean it requires special
attention: 1) Increased value of data - The volume and value of data
available has increased exponentially. ACCA reports that '90% of the [40
trillion GB of] data in the world has been created since 2016. Advances
in machine learning and artificial intelligence allow patterns (Algorithms
help identify patterns and on the basis of pattern the data is classified.
If a data is in this pattern then classify it in this way... If a data is in that
pattern then classify in that way...) to be analysed that revolutionise the
way organisations interact with their stakeholders. It means that the
data which helps in patterns analysis is very important because it is very
useful in interacting with stakeholders so giving special attention to
such IT system is also very important.

2) A lack of awareness of the vulnerability of personal data -

Vulnerability means the quality or state of being exposed to the
possibility of being attacked or harmed. So this awareness is important
in order to not provide any personal data without any scrutiny. 3)
Storing and sharing data - Cloud technologies gives orgs options to
store and share huge amount of data but making data available outside
the organization creates channels which are open to being exploited
through unethical or illegal behaviour. 4) The inevitability of software
bugs - Software is now so complex that it is beyond the scope of any
human to identify every possible weakness. So special attention is
necessarr to protect such softwares from cyber-attack.
Measures to promote cyber security: NCSC recommends ten steps to
promote cyber security within an organisation: Giving someone steps to
follow is itself a promotion of cyber-security. Read from article 3. User
education and awareness - "A network is only as secure as its weakest
link" - Network (any tool that gives access to data) can only be sucured
when network's weakest link (that are employees, a very important link in
cyber security chain) is secured and it is only possible through the
awareness. 4. Malware prevention - It means that any software (like
viruses) that is intentionally designed to harm computers in order to attack
on useful information. Organisations and individuals can protect against
malware by subscribing to software that screens (find and protect from) for
such infections.

5. Removable media controls - The ability to transfer media via removable

media (USB) creates a key weakness that hackers can exploit. A 2019 report
from Dtex Systems reported that 74% of staff surveyed were able to
circumvent security controls (they overcome the controls, which is wrong, to
use portable application in a clever way) to use unsanctioned portable
applications such as USB sticks. Organisations clearly need to be more
robust in regulating the use of such media. 6. Secure configuration - Any
hardware (e.g. Laptop) that is being connected with the organization's
network must be restricted for unauthorized access because that hardware
has now confidential data as a result of connected with network.

The role of the finance department in managing cyber security: CFOs are
needed to be much more pro-active in managing cyber risk. Although IT
issues are complex, finance team must be involved into managing the cyber
security risk where CFO must take broader view from commercial and
business-wide risk perspective rather than technical perspective. The ACCA
report recommends several specific actions for the CFO to take: 1.
Redefine risk and resilience(the capacity to recover quickly) - As cyber
criminals become ever more sophisticated (criminals knows how to even
attack on complex IT structures), the report recommends a 'zero trust'
model, where all users and equipment are systematically verified before
gaining access to a network. This can be seen with the 'two step
verification' (like user ID credentials and then okta confirmation) techniques
being adopted by many banks and consumer service providers.
2. Focus on recovery plans - Preventing cyber-attacks is a noble ambition (koi
rank ya title leny ki khwahish jitna) but it’s virtually (amli tor par) impossible
to achieve. It’s therefore crucial to have plans in place to manage any attack
itself but also, crucially, the recovery afterwards. 3. Audit your supply chain -
Supply chain cyberattacks put organizations at significant risk -- risk that can
disrupt their operations and damage their reputations. A system is only as
strong as its weakest link (here the weakest link is org's network with
suppliers i.e. a whole supply chain) so organisations need to place as much
emphasis on the cyber security protocols of any connected suppliers (those
suppliers who are connected with org, so like orgs have access to suppliers
info so org must put controls in order to protect supplier's info) as it does on
its own systems and controls (like orgs create strategic plans and put many
controls to protect it from cyber attacks).

4. Invest in cyber insurance - Insurance will help to minimise the damage

caused by a cyber attack. For this to be effective, the CFO needs to help the
board to quantify the financial damage that an attack could cause. However,
while it may be tempting (qail krna, uksana, khwahish krna) to pay off a
ransomware attacker (an attacker who has blocked orgs access to its own
software through malicious software in return for money), such an action is
likely to make the organisation considerably more attractive to other
attackers.

Conclusion
The ACCA report concludes with the following warning:

'Do not wait for a cyber attack to occur. Do not wait for the fine or the
measurable reputational loss. Finance leaders need to recognise that cyber
risk is one that is very relevant to them. Ensure that you are fully up to date on
the nature of the risk that the organisation faces on an on-going basis.'

As the strategic business leaders of tomorrow, students need to demonstrate

a good awareness of cyber security issues and be ready to discuss, assess and
evaluate the controls that an organisation has (or doesn’t have) in place.
IoT: The things (physical objects and devices) which, with the help of
Internet, can be connected with each other (through connected sensors,
processors and transmitters) in order to share data, communications,
interactions. These connections are helping a lot in creating the larger
picture of Big Data. Smart devices, interconnected devices (like AI and
robotics and unlike Mobiles and laptop which can not be used
autonomously) that can operate to some extent autonomously, are not only
involved in data collection but can also be used to control conditions in the
physical world. Businesses, however, need to get beyond (focusing with
further aspect of something) the technology and the potential to gather
vast amounts of data in such a way that they have to consider how the IoT
can be part of their commercial model. The IoT has many strategic and
operational uses that go right across business sectors. Orgs need to explore
opportunities for adopting new technologies and the potential application
of information technology to support e- business.

Devices: Smart devices can be found just about anywhere. For the home
there are devices that can turn on the coffee machine when you wake up,
lock the doors when you leave the house and put on your favourite music
when you get home. Travelling to work, smart devices can collect data
about traffic volumes, so that you can receive alerts warning you of traffic
jams and advising you to take a different route. In the office, smart desks
have been developed that can tell you when you’ve sat for too long in the
same position and it’s a good time to stand up.

Uses of IoT: Helping with particular tasks – the IoT can help enable better-
targeted working processes. The oil and gas industry has been able to build
models based on seismic images (knowing about the parameters of
rock/mountain in order to identify how much oil, gas, water is available
within the rock) to improve the precision of exploration (searching an area
for natural resources with a quality of accuracy) for new reserves. Data
about the conditions, that products are kept in, can be used to help predict
with precision the life of individual products within a larger batch. This is
particularly important in the food industry, where shelf life can vary
according to harvesting, holding, processing and distribution arrangements.

Generating efficiencies – the information smart devices make available

within manufacturing operations can help prevent bottlenecks (e.g. any
prdicted fault in machinery) Efficiencies also include reduction in the use of
resources, by, for example, using smart devices for better energy
management in buildings (using of machines that have now replaces
humans) In agriculture, sensors on farms enable farmers to monitor soil
conditions and irrigation levels, optimising their water and fertilizer use.
Monitoring for potential problems – devices are able to give
warnings to remote locations of security problems, such as open
windows. The data, devices provide, can also enhance the
effectiveness of procedures designed to prevent problems occurring.
Predictive maintenance involves use of data relating to the condition
of equipment to estimate when maintenance should be performed.
The timing of maintenance will be partly determined by when it is
cost-effective, but also trying to ensure that it happens before there is
likely to be a loss in performance. Underpinning strategic
development – in the automotive industry 3D printers can be used to
shape pressing tools by printing the shape directly onto the steel
granulate (a design will be made on the monitor and that design can
be directly printed onto the steel granulate of the pressing tool which
in turn will then be used to produc products with the required shape).
This helps enable car designs to be tailored to customer
requirements.

Sector examples: The medical sector has found many uses for smart
devices. Devices in the home can provide alerts that medical
emergencies, such as falls, have occurred. They can also enable
continuous remote monitoring of blood pressure and heart rate, and
also responses to treatment. In the transport sector the proliferation
of smart devices such as traffic cameras, sensors and vehicles’
tracking modules can be used for longer-term objectives, as well as
warning motorists of traffic problems ahead.

They can identify the most-frequently taken routes and provide data
that can be used as a basis for decisions about simplifying those
routes. Problems As always, security is an important concern. A
significant criticism of the IoT is that development of applications has
not been accompanied by sufficient development of security. In some
instances the consequences of hacking could be life-threatening.
Privacy and breaching data protection regulations are also serious
concerns. The more information that devices provide, the more is
known about what individuals are doing, leading perhaps to a
greater ability to predict behaviour.

Individuals may fear being watched and be afraid of whether the

inferences drawn from data collected about them can be used to
‘control’ their behaviour. Compliance with data protection
regulations is complicated by regulations continuing to develop and
differences in regulations between countries. Read last three
paragraphs from article.
Scope: We will learn that how we can apply Big data and data
analytics in SBL. First part will consider an overview of Big data and its
characteristics and second part will discuss the types of data analytics
that business leaders can use. Use of data must be a sceptical one
because data analytics may provide alternative explanations using the
same data so relaibility and quality of analysis must be ensured. Also,
Not using a data securely/ethically/responsibly will result in
reputational and financial risk. Now the outcomes of above context is to
understand the three areas: 1) how big data and data analytics can
inform and implement strategy 2) how big data and data analytics can
provide new opportunities and present new risks for businesses 3) how
big data and data analytics helps business leaders make better and more
effective business decisions in a variety of ways, in order to create and
sustain business value.

What is Big Data? Read from article, only imp line are being written.
Data, which is not used or analysed has no value, but value can be added
to data if it is cleaned (relevant), processed (reliable), transformed
(structured) and analysed (data now becomes information to be useful
for strategy/risk analysis and DM). Reliable, timely and relevant
information is what the business leader needs in order to answer key
business questions and make more informed business decisions.

Good quality/Knowledgable data analytics can only provide access to

useful DM and for good quality data analytics the big data must have
these five characteristics in order to help making good DM. Volume -
More data will give better analysis so amount of data matters, most of
this data may have no value but getting to know either it is valuable or
not can only be known after structuring it and then using it. As any
statistician knows, the more data you have, the more reliable your
analysis becomes and the more confident you can be about using the
results you obtain to inform decision-making.
Velocity - The rate or speed at which data is generated (received) and
transferred (used). It refers to how quickly data is generated and how
quickly that data moves. Informations about customers, suppliers,
inventory, cash and etc can be generated/updated immediately as
transactions are conducted and recorded in real time. Variety - Variety
refers to the many types and sources of data which are available.
Traditional data types were more structured. With the rise of big data,
data comes in new unstructured types as well as with more varieties i.e.
text, audio, pictures and videos but all these require additional
processing to transform them into meaningful and useful information
which can be used to support decision-making but the ability to process
and then access & use the information (through data analysis) provides
more richer information to business leaders than obtained from
traditional process (i.e. larger amounts of data from more structured
sources.)
Veracity - The three Vs discussed above are all clear benefits of big data.
However, the data analyst must be sure that the data they are using to
perform data analytics has veracity. Veracity means reliability and
robustness and it is no good having large amounts of data in real time from
a wide range of sources unless it can be relied upon. Value - the information
obtained from data analysis must be of something that can be valued. Value
can only be given when analysts use a process of discovery to: 1) recognize
patterns and trends 2) to make informed assumptions 3) to accurately
predict behaviour and come up with relevant solutions. If for any reason the
original data is somehow unreliable, assumptions can be wrong, or the
interpretation of the original business question or issue might be incorrect. It
is therefore important that the data analyst or business leader, using the
findings of data analysis, is sufficiently sceptical of the information that
comes out of the data analytics process and properly challenges or verifies
the information received.

Data Analytics Techniques - There are unlimited ways in which data can
be analysed, depending on the number of business questions which can be
asked by business leaders about the businesses which they lead (any
information in any form/format can be asked at any time). Essentially the
data analytics process should always begin with posing a specific business
question such as the following: Read the questions from article.

There are many more of these questions and the SBL examination could
address such questions and require the candidate to assess how such
problems could be resolved and the solutions arrived at could involve some
application of their knowledge about data analytics. Essentially there are
three types of data analytics: 1) Descriptive 2) Predictive 3) Prescriptive.
Descriptive: To observe what has been and is currently happening. Customer
wise or product wise or verticals wise analysis helps identifying trends which
can be used in different ways to make DM. Charts, graphs and pivot tables
are very helpful with descriptive analysis because information can be
obtained in a variety of ways.
Only looking the figures in total will not help identifying unusual trends
therefore breaking data into product/store wise will only help detecting
fraud or loss using micro level descriptive analysis. Predictive Analytics: If
you are making strategy so you will evaluate the scenarios to know that
what outcomes will occurr at what scenario, so the strategic outcome is
dependent on the scenarios which we evaluate with the help of "scenario
manager" tool of excel. Basically the purpose is to predict the sales in future
by anaysing the relationship between independent/input variables (weather
conditions in past) and dependent/outcome variables (resulted sales of
items in different weather). However, when using such techniques, a degree
of scepticism must be applied because it not a hard and fast rule that the
inputs which are predicting the outcomes will always show a direct cause.
Read from article - imp..
Prescriptive: A form of data analysis where with the
help of data you can analyse that how we can minimise
our cost or maximize our sales because, in the example
in article, it will not be easy to calulate without solver
that how many units should be allocated to each store
in such a way that could optimise our operations. Read
this from article. Applications Data Analytics: The data
analysis shown in this article will not be done by SBL
students (i.e. business leaders) rather it will be done by
the data analysts on behal of the business leaders.
Students studying for SBL only need to be aware of how
big data and such techniques of data analytics can be
of use in leading or managing a business more
effectively.

Read this heading again from article where it has been

told that what scenarios might come in SBL exam and
very important thing is that it also has been suggested
that reading big data and data analytics development
more is also necessary.
Purpose of Article: Ways of E-commerce i.e. B2B and B2C plus the benefits of
business where social and employment costs have been considered.
Introduction: Read from Article. Those who know about e-commerce (these
are those who study SBL and business technologies) have now a weapon of
competitive strategy (means that they have now very best strategy to grow
their business because they know about e-commerce). B2B: B2B e-
commerce is well-established and is still a fast-growing area. Examples
include companies linking to their suppliers to facilitate Just-In-Time (JIT)
inventory control (it is JIT because now compaies have access to thousands
of suppliers through e-commerce and so no need to purchase the things so
early with this fear that it may not be available at the time when we need.)

The one of the successfull drivers of B2B approach is the overhauling of

inefficient trading processes and conducting business with each other more
speedily, efficiently and economically. Read last para from article. B2C: Also
known as e-business, e-tailing and e-trading.. Business Activities: Commerce
refers to the activities in which an organisation or individual engages in
order to complete a transaction. Most stages in the lifecycle of a product or
service can be conducted in an e-commerce environment. For example, a
book retailer might undertake the following e-commerce activities: a)
market research b) advertising c) providing product information d)
contacting customers e) taking orders f) tracking shipping g) receiving and
processing payments h) ordering stock from publishers. So the businesses
activities are same as orgs ususally carry out but the difference is that the
company can conduct its retail business by using technology instead of, or in
addition to, operating stores.

Benefits of E-commerce: Read from article. Self-Serve Economy: Read from

article. A main concept of self-serve economy is that consumers are now
serving themselves, without any need to of shop assistant or customer
service representative, as a result of e-commerce where emails and websites
are playing good part making it easy to deliver goods/services through
online process and processing payments digitally.
Social and employment costs of e-commerce: Although the benefits of e-
commerce are significant, they do not come without the risk of some
longer-term social costs. Read first and second bullet from article. Third
bullet means that if suppliers will choose to sell the products in those
economies where cost is less (because they have access to global
markets and may be their own economy is high wage/high social cost
economy) then it will lead to the high impact on high wage/high social
cost economies which may find that jobs are exported to lower cost
economies. Read other bullets from article.

E-commerce – a glossary of terms: Read from article, only some e-

commerce and internet based terms have been described…