SBM-NMIMS: COURSE TEACHING PLAN

With Assurance of Learning components

Course Code
Course Title AI Concepts and Applications in Business
Course Instructor/s B Nair, S Roy
Credit Value 03
Program &
MBA II year, VI trimester
Trimester
Pre-requisite
CLOs – (in bracket state the PLOs to map)

CLOs PLOs to map

CLO 1) To understand the concepts driving AI PLO 4b
To apply the drivers of AI in practical
CLO 2) PLO 1a
scenarios
Learning
To understand the application of AI in
Objectives CLO 3) PLO 2b
different domains
To explore the ethical implications of
CLO 4) applying AI in solving some of the real- PLO 7a
world problems

(Must be connected to Learning Objectives)

1. To understand the importance and complexity of AI CLO 1

2. To understand how AI systems influence business outcomes CLO 2
Learning
3. To understand AI and its applications in different aspects of
Outcomes CLO 3
our lives and functions
4. Awareness of the importance of building an AI system that is
CLO 4
fair, ethical, and transparent

Course Description

Specific 3 1.5 AOL CLOs to be assessed

assessment Credit Credit Instruments
methods/tasks (*)
CLO 1 CLO 2 CLO 3 CLO 4
Project 30 Rubric 20 10
Class Participation 10
Test 20
Evaluation Pattern End Term Embedded
40 20 20
Questions
Total 100 50
*AOL Assessment Instruments:
 Embedded Questions: Quiz, Class Test, Midterm Examination, Final Examination etc.
 Rubrics: Group Assignment, Class Participation, Case & Article Discussion,
Group Projects Discussion & Viva’s, Case Problem,
Individual Communication Situations, Assertiveness Role Play,
Group Business Presentation, Individual Assignments, Team Projects, etc.
 Chapter / Article Reference /
Topics / Subtopics Pedagogical Details, Class Exercises
Sessions Case Studies
Learning Outcomes & Engagement
Introduction to AI Reading Material: LO: Students will get to know the basics
 Framework of AI  White Paper (14 Pgs.): An of AI
 AI – Technology Executive’s Guide to Real-
1 Overview World AI (HBR) Pedagogy:
 AI vs. ML vs. DL Discussion with examples and Q&A
 Difference between AGI
and ANI
Introduction to AI Reading Material: LO: Students will get an overview of AI
 AI approaches  Artificial intelligence (AI)
 Understand the for the real world Pedagogy:
2 difference between  Machine learning for Discussion with examples and Q&A
AGI/ANI enterprises: Applications,
algorithm selection, and
challenges
Deploying AI for Case Study: LO: Students will get to know:
commercial purposes  Copilot(s): Generative AI  How competitors are increasingly
at Microsoft and GitHub collaborating on core technology
while competing on products built
on top of it
 How technology evolutions
3
transition to commercialization.

Pedagogy:
Discussion with examples and Q&A
around the given case

Machine Intelligence Reading Material: LO: Students will understand the basics
 Machine learning  The challenges and of intelligence incorporated in machines
approaches opportunities of artificial
 Types of ML intelligence Pedagogy:
4 Discussion with examples and Q&A
Systems
 Continuum of machine
intelligence

Machine Intelligence Reading Material: LO: Students will understand the

 Techniques involved  Leveraging artificial different techniques associated with ML
 Different ways intelligence in the
5 machines learn innovation process Pedagogy:
 Concept of Bias  Deepfakes: Trick or treat? Discussion with examples and Q&A

Big-Tech and AI: evolution Case Study: LO: Students will get an overview of
of technology towards the AI Wars what Gen AI technology does, how it
realization of AI was developed, the key players, and
how the industry is evolving
6
Pedagogy:
Discussion with examples and Q&A
around the given case
AI: Deep dive into ANN Reading Material: LO: Students will understand the basics
 Components of ANN  AI and ML as business of ANN
7  ANN Types tools: A framework for
 How ANNs work diagnosing value Pedagogy:
 Using ANNs destruction potential Discussion with examples and Q&A
 Chapter / Article Reference /
Topics / Subtopics Pedagogical Details, Class Exercises
Sessions Case Studies
Learning Outcomes & Engagement
 Lessons from sports to
compete with AI
 Managing AI Decision-
Making Tools
Encoder-Decoder Reading Material: LO: Students will understand the
Architecture  Salesforce AI Introduces different aspects of transformer-based
Transformer models CodeT5+: A New Family of AI Models
Open Code Large Language
Models with an Encoder- Pedagogy:
8 Decoder Architecture Discussion with examples and Q&A
 CMU Researchers Propose
GILL: An AI Method To
Fuse LLMs With Image
Encoder And Decoder
Models
How Generative AI works Case Study: LO: Students will understand the
 AI21 Labs in 2023: Strategy different aspects of Generative AI and
for Generative AI | Harvard Models through the case discussion
Business Publishing
9 Education Pedagogy:
Discussion with examples and Q&A
around the given case

The Dark Side of AI: Machine Bias in Criminal Learning Outcome:

Negative (mostly Sentencing, A ProPublica
unintended) Implications Investigative Report, 2016  Identify shortcomings and
of Deploying AI challenges in developing an AI
solution
10  Awareness around the dark side of
AI as a technology

Pedagogy:
Discussion with examples and Q&A

The Dark Side of AI: The abuse of workers in Kenya to Learning Outcome:
Negative (mostly make ChatGPT less toxic, Time,
unintended) Implications 2023  Identify shortcomings and
of Deploying AI challenges in developing an AI
AI-driven Transportation solution
Disasters, USA Today, 2023  Awareness around the dark side of
AI as a technology
The Sad Death of Elaine
Herzberg – First victim of a Self- Pedagogy:
11 Discussion with examples and Q&A
driving Car, AZCentral, 2018

Li, P., Yang, J., Islam, M. A., &

Ren, S. (2023). Making AI Less"
Thirsty": Uncovering and
Addressing the Secret Water
Footprint of AI Models. arXiv
preprint arXiv:2304.03271.
 Chapter / Article Reference /
Topics / Subtopics Pedagogical Details, Class Exercises
Sessions Case Studies
Learning Outcomes & Engagement
Mitigating Biases in AI - We need an AI that is Learning Outcome:
Towards AI 2.0 explainable, auditable and
transparent, HBR, 2019  Appreciate the need for an
explainable AI.
Nightshade: A Defensive shade  Understanding of cutting-edge tools
for Artists Against AI Art which promote explainability in AI
12 systems.
Generators, AMT Lab, Carnegie
Mellon University, 2023
Pedagogy:
Making ChatGPT less biased,
Discussion with examples and Q&A
MIT Tech Review, 2023

Regulating AI – Making AI needs More Regulation not Learning Outcome:

AI Responsible, Fair, and Less, Brookings, 2020
Transparent  Understanding the need to regulate
Why Business Leaders need to AI
understand the Algorithms? -  General awareness of Regulatory
HBS Article, 2019 Frameworks around AI

European Commission’s
Pedagogy:
13 Regulatory Framework Proposal
Discussion with examples and Q&A
on AI (2022), European
Commission

Global Race to Regulate AI,

Foreign Policy, 2023

No Regulations for AI in India,

Business Today, 2023

Raisch, S., & Krakowski, S. Learning Outcome:

(2021). Artificial intelligence and
management: The automation–  Evaluating the two distinct roles of
augmentation paradox. Academy AI in transforming business
of management review, 46(1), processes
AI Adoption: 192-210.
14 Automation Vs  An Understanding of when to adopt
Augmentation AI in Storytelling, McKinsey AI for automating and/or
Article, 2017 augmenting business processes

Pedagogy:
Discussion with examples and Q&A

Integrating Gen AI in HEC Montreal Case: Learning Outcome:

Business
Responsible Generative AI  Gauging the various value-
and the Creative Adoption proposition offered by adopting
15 of LLM at Deloitte Canada various models of integrating large
Authors: Marion Korosec- language models
Serfaty and Luc Lesperance
Publication Year: 2024  Understanding the nuances of
operationalizing AI in an
 Chapter / Article Reference /
Topics / Subtopics Pedagogical Details, Class Exercises
Sessions Case Studies
Learning Outcomes & Engagement
Additional Readings: organization

Building the AI-powered Pedagogy:

Organization, HBS Article,
2019 Case-study discussion

Monetizing Generative AI HBS Case: Learning Outcome:

Replika AI: Monetizing a  Understanding various ways of

Chatbot monetizing generative AI
Authors: Julian Freitas and
Nicole Keller  Examining the limitations for
Publication Year: 2022 adopting generalized AI models
16
Future is generative AI is Pedagogy:
not generalized, but niche, Case-study discussion
MIT Tech Review, 2023

Monetizing Gen AI
Software, Deloitte Insights,
2024

Mitigating Epistemic Risks Hannigan, T. R., McCarthy, Learning Outcome:

of Generative Chatbots I. P., & Spicer, A. (2024).
Beware of botshit: How to  Examining various epistemic risks
manage the epistemic risks associated with the adoption of
of generative generative AI
chatbots. Business Horizons.
 Understanding ways to mitigate the
17 Nobody knows how LLMs
epistemic risks associated with the
work?, MIT Tech Review,
2024 adoption of generative AI

Pedagogy:
Race to Understand the
Dangerous World of Discussion with examples and Q&A
Language AI, MIT Tech
Review, 2021
AI and Climate Change AI has an environmental Learning Outcome:
problem, UN Environmental
Programme, 2024  Awareness on the environmental
impact of AI and ways to mitigate
Carbon footprint of AI, MIT them
Tech Review, 2023
 Understanding how AI is helping to
Li, P., Yang, J., Islam, M. A., & fight climate change
18 Ren, S. (2023). Making ai less"
thirsty": Uncovering and Pedagogy:
addressing the secret water Discussion with examples and Q&A
footprint of ai models. arXiv
preprint arXiv:2304.03271.

Emergence of Specialized LLMs,

MIT Tech Review, 2024
 Chapter / Article Reference /
Topics / Subtopics Pedagogical Details, Class Exercises
Sessions Case Studies
Learning Outcomes & Engagement
Tackling Climate Change with
AI, World Economic Forum,2024

19 & 20 Group assignment: discussion, analyses

Project guidelines Identify a business situation and analyze it in terms of the following:

 Pre-existing problems for different stakeholders

 Application of AI while overcoming technical and other hurdles to resolve the issues for
all stakeholders
 Challenges in addressing evolving regulatory requirements and other business issues

Reading List
and Prescribed Textbook: None
References
References
(Complete
details with Links to references provided session-wise
year of
Publication)

Instruction for Use of Intellectual Property of NMIMS SBM (By Order, NMIMS SBM)
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Disclaimer
While care has been taken in compiling this Course outline, The School of Business Management of
SVKM’s NMIMS University shall not be held liable in any manner to any person for any mistake and /
or omission in the contents of the Course outline.