BUSINESS APPLICATIONS OF EMERGING TECHNOLOGIES II III IV V - Venki

NEW SCIENCE DEGREE & PG COLLEGE DEPARTMENT OF COMPUTER SCIENCE VENKAT
2024
NEW SCIENCE DEGREE & PG COLLEGE
BUSINESS APPLICATIONS OF
EMERGING TECHNOLOGIES U.VENKAT
Department Of Computer Science
New Science Degree & PG College
Unit – I
Finance Transformations
WhatIsBusinessAnalyticsInFinanceSector?
Financial Analytics refers to the ad hoc analysis created for financial analytics to answer
specificbusinessproblemsandforeseepotentialfuturefinancialscenarios.Itoffershigh and granular
insights into a company’s financial data, enhancing its operational performance. Predictive, data-driven
insights support your team throughout the entire process by comprehending and analyzing previous
performances, forecasting future performancestrategies,andoutliningactions
tofollowtomakewiserandmoreassured decisions.
WhyIsDataAnalyticsVitalfortheFinanceIndustry?
HerearesomeBusinessAnalyticstoolswhichserveasexamplesofhowadvanced analytics is being used in a

changing customer ecosystem:
 Credit Risk Modeling: Traditional risk analytics models include information

based on demographics, income sources, loan history, default rates, and other
factors.Numerousothertouchpointsareexaminedinadditiontotheusualdata. 
 Enhanced Decision Making: Business Analytics for decision-making serves

the purpose of decision-making. It offers perceptions of the vendors based on
thesatisfactionoftheirclients,theefficiencyoftheirdelivery,andthecaliberof the job
they produce.
 Improved Efficiency: To assess their performance and forecast the results of

theirinvestments,businessorganizationscanuseavarietyofresources.Repeated
analysis helps to solidify the conclusions and improve performance. 
 AccurateProblem-solving:Byusinganalyticsbusinessprocesses,analystscan
predict the likelihood of a loss and alert customers in advance. Issues are thus
better handled and promptly resolved. 
 ReduceTurnoverRate:Thepercentageofemployeeswhodepartacompany over
time is referred to as the turnover rate. Analytics in business aid in calculating
the turnover rate and monitoring personnel issues. 
 Risk Analysis: Financial institutions use dynamic risk models that are more
resistanttosubstantialexternalvariationsandarebasedonadvancedanalytics. 
Organizationsmaynowexaminenumeroustransactionsusinghistoricaldataand social media

profiles thanks to advanced analytics models.
 ProductRecommendationEngine: Financial services are anotherareawhere

theyhaveamarket.There arenumerouscomparisonwebsitesforanyfinancial
instrument, and consumers can make informed decisions. Machine Learning
models process data obtained from content feeds in real-time.
 Reduced Production Cost: Large businesses can dramatically lower the cost of
product manufacturing by leveraging analytics. Business organizations might
applyanalyticsonthe gathereddatatostreamlineproductionratherthaninvest
resources in producing various items. 
 Enhanced Product Management: Business Analytics for management

decisions can be used to determine the best time to put things up for sale in
retailorganizations.Withtheuseofproperinformation,businessescanprovide the
right products at the right time, eventually boosting sales. 
 PersonalizedMarketingandCustomerSegmentation:Forpersonalizationto
work, it is crucial to comprehend consumer behavior, establish credibility, and
gain a response to marketing communications.
 AI-poweredVirtualAssistants:VirtualassistantswithAIbringvalueby
responding to customer demands through quick self-service solutions.
WhatAreTheAnalyticsTechniquesUsedin theFinancialSector?
 PredictiveSalesAnalytics:Thetwomaintechniquesforpredictingsalesare
pasttrendanalysisandcorrelationanalysis. Planningandmanagingcompany
highs and lows are made easier. 
 ClientProfitabilityAnalytics:Separationbetweencustomerswhospendmoney and
customers who make it is necessary for businesses. It is helpful to analyze each
client group and customer contribution to gain useful insights. 
 ProductProfitabilityAnalytics:intoday’scutthroatbusinessenvironment,firms
must understand their earnings. Rather than examining the business, product
profitability helps determine the profit gained from each product. For this,
evaluating each product is crucial.
 Cash Flow Analytics: The soul of your business is cash flow. Knowing your cash
flowisessentialforassessingthehealthofyourcompany.Workingcapitalratios and
cash conversion cycles are examples of real-time metrics that are used.
WhatisBusinessDisruption?
 If you have ever encountered an article or think about a piece of popular new software,
app, or tech-based product that has skyrocketed in use recently, it’s likely that at some
point, you encountered it being described as “disruptive”. A hot-button term thrown
around regarding many different business innovations,
whenitisappliedtoconceptsinyourownorganization,itcanbeeasytowriteoff as an
invaluable assessment.
 However, “disruption” goes beyond rudimentary critiquesof start-upsand failed
companiesandproducts.Understandingwhat businessdisruptioniscanbethe key to your
understanding of what strong innovation is and can even help improve your business
to produce more truly innovative services and products. So, what is business
disruption?
 When it comes to business strategy, “disruption” refers to a process in which
marketentrantscomearmedwithnon-conventionalbusinessmodels,andwhat at their
outset seemto be poor-performing products actually come to challenge and
eventually replace industry incumbents over time. Simply put, it is the process in
which an underrated, or unexpected, product or service starts to become popular
enough to replace, or displace, a conventional product or service on the market.

Innovation vs. Disruptive Innovation: What’s
the Difference?
 The concept of innovation is heavily linked to the idea of business disruption,
largelybecausetheoriginsofdisruptiveproductsandservicesderivesfroman
unconventional approach to business and market innovation. In “true” disruptive
innovation, the unconventional product takes root at the bottom of the market and
develops a poor reputation because of it. However, over time, and dueto a number
of factors such aslower costs or higher accessibility, the product actually becomes
more appealing than its contemporaries within the industry.
 Thisisnotthesameasthetraditional approachto innovation,alsoreferredtoas “sustaining
innovation”. Traditional innovation is when new inventions and modifications are
introduced by businesses in an attempt to stay relevant with customers, and
competitive in the job market. That is not to say 
these innovations are invaluable, but they do run a higher risk of becoming too
sophisticated,tooinaccessible,ortooexpensivetoholdanylastingpoweronthe market. As a result,
when sustaining innovations are deemed too frivolous, customers begin to look to less expensive,
sometimes radical alternatives to meet their business needs, spiking the success of those
disruptive innovations.
BusinessDisruption:ExamplesandKeyTakeaways
 The typical defining traits of disruptive innovations are lower gross margins,
smallertargetmarketsfromtheoutset,and aproductorservicethatisusually much
simpler than their industry contemporaries.
 However,organizationsneedtoremainonguardwhenitcomestolabellingany sort of
industry-challenging innovation as disruptive. If the term is used too facetiously, it
begins to undermine what true disruption actually is. It shines a spotlightonstart-
upsthathavealreadygarneredsignificantattention,whiletrue market disruptors are
climbing the industry ladder elsewhere, unnoticed by the giant competitors they’re
meant to replace.
 Inordertodevelopathoroughunderstandingofwhattruedisruption actuallyis,it is helpful
to look at real-world examples of business disruption, and recognize when the term was
suitable, and when it was not. 
ExamplesofWhatBusinessDisruptionIs
1. NetflixandStreamingServices
Netflix and all other streaming services are in the process of an ongoing disruption in the
entertainment industry. They largely influenced the slow extinctionofvideorental
storesandarenowresponsiblefortheever-growing cancellation of cable subscriptions worldwide.
 OTToptions(over-the-top,inreferencetodevicesthatgoovercableboxesto provide
access to TV content) emerged seemingly out of nowhere several 

years ago and have since skyrocketed into the leading position in providing
entertainmenttocustomers.Itwasdeemedalow-costalternativetoconventional subscriptions from the
get-go, and once customers caught on to the rising popularity and innovation offered by
streaming services, they began to think of their media consumption in an entirely different way.
2. Wikipedia
Alesserrecognizedformoftruedisruptive innovationistheinternationalhubfor easy-access
research, Wikipedia. For centuries, it was encyclopedias that existed to provide important
details on various subjects. That were written and published for profit, with hardcover volumes
being released regularly due to the constant updates and changes to information that needed to
be included.
Wikipedia eradicated that necessity for expensive, unsustainable information access. It is
constantly updated, available for free, and though it has an air of distrust surrounding the
information it presents, it still was enough to drive EncyclopediaBritannicatopublishtheirfinal
volumesbackin2012,after244of circulation.
3. Skype
 Skype, and video chatting platforms such as Google Teams and the booming
Zoom,areperfectexamplesoftrue businessdisruption.Whiletheexistenceof these types
of platforms have been the norm for years, its conception was far more disruptive
than many may remember. It introduced a new way of

international communication, where users globally can chat, call, and video chat
witheachotherforfree.Whileitsoriginal targetmarket wassmall,akeyindicator of a disruptive
innovation, Skype’s daily user count has ballooned up to 40million. In response to Covid-19 and
the increased demand for virtual meetings and learning spaces, Zoom increased its monthly
active user count to 12.92million. For some, these disruptive innovations have almost entirely
replaced mainstream forms of communication altogether.
Theneedtobeagileintoday’sbusiness environment
Agile is a set of core principles that have helped businesses become more adaptive,
efficient,andeffective.ThefocusofAgileisonthecustomers’needsandrequirements and serving them
efficiently.
Its guiding principles include iterative work, continuous feedback, collaboration, and clear goals. The
main idea behind Agile is that businesses need to be able to quickly
respondtochangesinthemarketandadjusttheirproductsandservices asneeded.The Agile philosophy
focuses on speed, flexibility, and continuous improvement.
Agilecanbeappliedtomanydifferentareasofbusiness. It’smostcommonlyusedin software development,
product management, and marketing. It’s also used in other areas, such as architecture and
consulting.
Here’satipofhowagiletheapproachactually looks!
Frequent small gradual improvements and periodic reviews reduce implementation dangersandmake
it mucheasiertoterminate non-profitableinvestmentsbeforethey
causesignificantlosses.Itiscriticaltohavetheabilityto change andre-prioritizetasks in a preliminary
phase.
Organizationsarebeginningtoimplementagilemethodsofworkingthroughouttheir companies after seeing the
benefits delivered within the IT dept.
The most effective agile teams are those that take the chance to understand a
structuredagilemethodology.Toachievethebestbusinessresults,conventional
methods,discipline,andversatilitymustbecombinedtoprovideastraightforward, dependable, and agile

approach.
Theattitudeof “wedon’torganize,we’reagile”islikelytocauseaprojecttolosefocus and eventually fail.
Acertainamountofformalityandmakingpreparationsisrequired–ifagiledevelopment gives up all project
discipline, it is unlikely to generate a faster time to market, reduced costs, decreased risk, and
increased flexibility.
BenefitsofAgileforyourbusiness –Let’sfind out!
1. Itoffersimmensespeedandflexibility
One of the primary advantages of working in an Agile environment is the increased speed of your day-
to-day tasks. Rather than waiting for a project to be completed
beforebeginningworkonthenext,teamsreleasesmallerbutmorefrequentchunksof work for a faster time
to market.
Thisenablesthemtoget feedbackontheirproductsmuchearlierintheprocessand
adjusttheirstrategyifnecessary. Theresultisthatproductscanhitthemarketfaster and customers are
able to access them sooner, resulting in a fast-mover advantage.
Thisisespeciallyimportantinfast-movingmarketsliketechnology,wherenewsolutions are introduced
regularly and customers often want the latest and trendy end products as soon as possible.
Agileteamsarealsomorelikelytobeabletorespondtochangesinthemarketasper their changing customer
preferences. This might include new regulations, updated industry standards, or an entirely new
product direction if necessary.
2. Reducedriskwithfast-turnaroundreleases
TheabilityofAgileteamsto quicklyreleasesmallerchunksofworkmeanstheycantest different versions of

their product with customers.
This allows them to receive feedback on multiple versions of their product, which is
usefulfordeterminingwhichproductto keep andwhichoneshouldbediscarded.While this testing might
seem like a risk to some businesses, it actually provides a number of advantages in the long run.
First,customerswhotrytheproduct andprovidefeedbackarelesslikelytowritea negative review or publish
negative feedback on social media.
Thisreducestheriskofreceivingbadpublicityordamagingyourcompany’s
reputation.Thisfeedbackcanalsobeusedtoimprovetheproduct,whichisakeyrole of product managers and
results in a better future outcome.
Theyhelpdeterminewhichfeaturesshouldbe includedintheproduct,whichone’s need improvement, and
which ones should be removed altogether.
3. Continuousimprovementthroughconstant
feedback from internal & external sources
Collecting feedback from customers is important for any company, but in an Agile environment, you
should be actively seeking feedback from a wide range of sources. Within your company, teams should
communicate regularly and share their feedback andotherrelateddata. Thisisimportant
forcontinuousimprovement becausesudden
changesinthemarketorcustomerpreferencesmightrequirechangestoyourproduct or your strategy as
well.
Thiscouldbeachangeinthemarketingstrategythatcouldnegativelyaffectyour product or the need to
integrate new technology into your solution.
Therefore,torespondtothesechanges,internalteamsmustcommunicatewithproduct managers and
marketing to stay on top of any issues that will benefit the company drastically.
4. Powerfultools&technologiestolevelupyour talent
game
Companiesmustadopttheappropriatetoolsandtechniquestoequiptoday’s workforce.
Theyshouldprioritizetheimplementationofknowledge-sharingtoolsthat
enable cooperation among in-office, hybrid, and remote employees, as well as the use
ofportalsthatprovideaclearpictureofthecombinationofpermanentandconditional talent throughout
their organization.
Companiesareabletobestreflecttrendlinesaroundworkerretentionandworkplace productivity if
business intelligence tools are instated, as most of the businesses that have embraced such
technologies say that staff members have well received them.
Suchknowledge-sharingtoolexecutioncannurtureeffectivecoordinationamong hybrid, remote, and in-
office staff.
Anybusiness’sabilitytoattractandretaintalentiscriticaltoitssuccess.Companieswill
enduplosingtheircompetitiveedgeandbusinesssuccessif theyarenot agileenough to adjust their talent
game.
5. Simplifiedhierarchyinthebusinessoperations
AkeytenetofAgileiscollaborationacrossteams,departments,andevengeographies where appropriate.
Many agencies have overly complex systems with too many tiers that complicate business tasks, as
well as a culture marked by a sense of failure and reluctance to
change.Togetthemostoutoftheagilemodelandreapitsmanybenefits,youmust get started right away.
Eventhoughleadershiphasasubstantialimpactonculture,managementrequiresa complete plan for
managing business requirements, relieving the fear of change,
inspiringencouragement,andpromotingtheskillsandbehaviorsrequired forbeing agile.
A future-oriented company acknowledges the changes occurring between the
corporation,itsemployees,anditsclientsandcancopewithcontinuouschangeby creating adaptable, agile,
and fragmented surroundings.
Whatarethebenefitsoftechnologyinfinancial services?
Nodoubt,theadventoftechnologyinthefinancialservicessectorhasseveralbenefits. The global finance
sector would not have grown to the current size without the use of software solutions. Discussed
below are some of the advantages that technology has brought into financial services.
Coverage
Mobile connectivity technology has enabled almost everyone to access open banking
serviceseasily.Itisinsharpcontrasttothe traditionalbankingsystemthatallowedonly for limited coverage,
usually only in big cities and towns. Nowadays, signing up for financial services is just as easy as a few
clicks on business phones or tablets.
TechnologyhasenabledFinTechcompaniestoevenbreakgeographicalbarriersin terms of coverage.
Convenience
Financial services technology also brings much-needed convenience to users as

opposedtothetraditionalbankingecosystem.Inrecentyears,ithasbecomepossibleto do almost everything
through mobile banking technology. It includes signing up for the service, making customer inquiries,
payments, accessing loans, and transferring funds.
Financial technology companies, such as Square Inc, have user-friendly mobile

applicationsthatenablecustomerstoaccesstheirservicesfromanywhereatanytime. Such apps have
eliminated the need for consumers to queue up at brick-and-mortar banking premises before they can
get services.
Speed
The other benefit of financial technology solutions is that they are quick. Transactions
arecompletedinseconds.Itiscrucial,especiallyinthisfast-pacedworldwheretimeis of the essence.
Traditional banking systems’ processes could easily take days to complete. However, that is no longer
the case nowadays, thanks to FinTech solutions.
Safety
Technologyalsoaddressessafetyandsecurityconcernsinthefinancialservicessector. The banking system

comprises loopholes, which make it risky and prone to theft.
However,thedevelopmentofsoftwaresolutionsinthefinancialservicesindustryhas come up with
fraud and breach detection methodologies that ensure one’s funds and private data are safe and
secure.
Customerexperience
Overall, financial technologies have managed to enhance customer experience. Smart

contracts,mobilepaymentsystemssuchasVenmoandcreditcardplatformslikePayPal, and chatbots
systems have greatly made the client’s life much easier. Other technological wonders include no
security deposit credit cards available to everyone.
Therehasalsobeenasignificantreductionin humanerror.Mostqueriescan behandled online in the
comfort of one’s home.
Artificialintelligencetechnologieshavealsogreatlyenhancedthecustomerexperience
infinancialservices.Ithasenabledpersonalizedexperiencethroughitsuseofbigdata. No doubt, customer
experience remains one of the top advantages of tech in finance, considering that clients take up a
central role in the entire system.
Opportunitiestoaddvalue,basedonnewbusiness models
including the finance value chain:
Value chain analysis is the process of identifying each of these activities, determining their costs
and the value they deliver, and then looking for ways to optimize them in keeping with the
company's overall strategy.
As the Harvard Business School puts it, this process "forces managers to consider and see each
activity not just as a cost, but as a step that has to add some increment of value to the finished
product or service."
CGMACompetencyFramework
THECGMACOMPETENCYFRAMEWORKISCOMPRISEDOFFOURKNOWLEDGEAREAS
TechnicalSkills,BusinessSkills,PeopleSkillsandLeadershipSkills.Theseknowledge areas are underpinned

by ethics,
integrityandprofessionalism.Thisdownloadabledocumentisthecompleteversionof the CGMA

Competency Framework.
CGMACOMPETENCYFRAMEWORK—PROFICIENCY LEVELS
FOUNDATIONAL:Thisrequiresabasicunderstandingofthebusinessstructures, operations and financial

performance, and includes responsibility
forimplementingandachievingresultsthroughownactionsratherthanthroughothers.
INTERMEDIATE:Thisrequiresamoderateunderstandingofoverallbusinessoperations and measurements,

including responsibility for monitoring the
implementationofstrategy.Thishaslimitedorinformalresponsibilityforcolleagues and/or needs to

consider broader approaches or consequences.
ADVANCED:Thisrequiresstrongunderstandingoftheorganisation’senvironment, current strategic

position and direction with strong analytical skills
andtheabilitytoadviseonstrategicoptionsforthebusiness.Thisincludesformal responsibility for

colleagues and their actions; and that their decisions
haveawider impact.
EXPERT:Thisrequiresexpertknowledgetodevelopstrategicvisionandprovideunique insight to the overall

direction and success of the organisation.
Thishasformalresponsibilityforbusinessareasandhis/heractionsanddecisionshavea high-level strategic

impact.
Newskillsandcompetenciesrequiredtoenable the
finance professionals:
7TopSkillsforFinanceProfessionals
To succeed in today's rapidly evolving landscape, finance professionals need to possess a diverse range
of finance and accounting skills. From data analytics to
leadershipabilities,herearethe7topfinanceskillsthatfinanceprofessionalsshould focus on developing to
stay ahead of the curve:
 DataAnalytics:
Thefinancefunction dealsquite alotwith numbersandother formsofstructured and unstructured

data. Finance managers and analysts should be able to analyze the data to draw accurate and
insightful conclusions from them. The finance department has for long provided stakeholders
with historical data to report business’ performance. But today, you are also expected to be able
to forecast revenue outcomes, costs, and cash flow. Knowledge of predictiveanalyticsandbeing
comfortable collaboratingwith data scientistsisimportant for finance professionals to stay ahead
of the curve. Accounting and finance executives need to be strong problem-solvers and decision-
makers. You should beabletounderstandhowtoturnbigdataintoconcise,decision-drivinginsights,
and be able to effectively collaborate with the IT team or analytics professionals for this.
 DigitalProficiency:
Finance departments worldwide are undergoing rapid digital transformation. You’ll nolonger see
stacksof paper recordsor big-bound books onaccountants’
tables.Sleektabletsandlaptops,voiceassistants,andtouchscreensdotfinance executives’ offices
today. Today, most F&A professionals work using ARsoftware, reporting tools, forecasting
models, RPA bots, artificial intelligence (AI) apps, and other digital technologies. In the digital
age, technical skills in finance have become increasingly important for finance professionals.
Technology has changed the nature of finance job roles. Finance staff must nowstay updated on
thedynamicsinthedigital fronttobeabletoinnovateandcontributetovalue- added tasks.

 CommunicationandStakeholderEngagementSkills:
The CFOand histeamare nolonger a teamthat works frombehind the scenes. They are actively
involved in meeting investors, communicating with analysts, stakeholders, and building the
company brand and image. Effective communication, thus, becomes essential for finance
professionals. Since the finance team today needs to collaborate with multiple other teams,
explaining complexfinancial conceptsin simple terms through both oral and written means
becomes important. You should also be able to interact with industry analysts
andtakequestionsaboutthecompany’sperformanceandgoalsfromawideset of audience with ease.
 BusinessAcumen:
Business acumen refers to one’s capacity to comprehend business challenges and find new
solutions to them. Strategic contributions to the business need
morethansimplyagraspofstatisticsordatapoints.Goodfinanceandbusiness acumenskillswill
helpyoutobuildrelationshipswithotherbusinessunitsandto learn better about their challenges. It
helps you become strategic advisors and business partners to them.
 BudgetingandForecasting:
Some of the key functions of the finance teamare preparing budgets, tracking expenditure,and
predictingfuturecashflowsandcosts.Financeexpertsshouldknowto prepare reliable budgets with
modern tools and techniques such as zero-based budgeting and value proposition budgeting.
Accuratefinancial modeling and forecasting using advanced statistical functions such as variance
analysishelp track projected and actualfinance metrics,thus improvingorganizationalperformance.
Financialforecasting models help depict an asset’s or portfolio’s financial performance over time
and can be used to predict and evaluate the company’s value and performance. Most companies
expect you to be adept in financial modeling, especially if you are applying for senior- level
positions.
 AccountingandCashFlowManagement:
Cash flow management is used by businesses to manage their finances and focus on growth by
tracking the ins and outs of their funds. A company may prevent financialloss and develop a
successfullong-termstrategy with
efficientcashflowmanagement.Asaresult,cashflowmanagementisanon-negotiable ability for any
aspiring or experienced finance professional.
 LeadershipandOrganizationalSkills:
Today, CFOs stand second-in-line to the CEO and are considered of the same
stature.Ifyouaspiretobetheheadofthe financefunction,youmusthavestrong leadership and organizational skills.
From managing multiple projects to spearheading team activities, finance professionals who set themselves
apart from the rest through their exceptional team management, data analytics, and interpersonal skills will find
more success. By developing and mastering these skills, finance professionals can stay ahead of the curve and
make valuable contributions to their organizations. Keep learning, stay updated, and embrace change to thrive
in the dynamic world of finance.
UNIT II
ROBOTTIC PROCESS AUTOMATION
1. What is RPA? Explain advantages & disadvantages.
RPA stands for Robotic Process Automation. It is the technology used for software tools that automate human tasks,
which are manual, rule-based, or repetitive. Typically, it is like a bot that performs such tasks at a much higher rate than a
human alone.
These RPA software bots never sleep and make zero mistakes, and can interact with in-house applications, websites, user
portals, etc. They can log into applications, enter data, open emails and attachments, calculate and complete tasks, and
then log out.
Advantages and Disadvantages of RPA

Robotic Process Automation is a growing technology with several benefits. However, some people still are not convinced of
it and make objections. In this article, we have addressed both sides (advantages and disadvantages) of RPA to give you a
better understanding of this technology.
Advantages of RPA
Some of the significant advantages of Robotic Process Automation software are given below:
Code-Free:
RPA doesn't require any coding or programming knowledge. The modern RPA tools are used to automate applications in
any department where the clerical work is performed across an enterprise. Hence, Employees only need to be trained on
how RPA works and they can easily create bots, just through GUI (Graphical User Interface) and different intuitive
wizards.
Non-Disruptive:
One of the major challenges that IT deployment faces is the risky or complex transformation process, which prevents large
organizations from redesigning, replacing, or enhancing the running system. However, the transformation process in RPA is
very simple and straightforward. The RPA software robots follow the existing security, quality, and data integrity standards
NEW SCIENCE DEGREE & PG COLLEG DEPT.COMPUTER SCIENCE VENKAT
to access the end-user system in the same manner as human beings.

User-Friendly:
RPA software is user-friendly, easy to understand, and easy to use. RPA tools allow users to create bots quickly and
effortlessly by capturing mouse clicks and keystrokes with a built-in screen recorder component. Some of the RPA software
includes the option to create and edit bots manually using the Task Editor.
Rich-Analytical Suite
RPA software contains an in-built analytical suite that evaluates the performance of the robot workflows. RPA analytical
suite also helps in monitoring or managing the automated functions from a central console, which can be accessed from
anywhere. It offers basic metrics on robots, workflows, and more.
Security

When an organization is running on automation, more users will demand access to RPA products. Therefore, it is important
to have robust user access management features. RPA tools provide options to assign role-based security capabilities to
ensure action specific permissions. Furthermore, the entire automated data, audits, and instructions which can be accessed
by bots, are encrypted to avoid any malicious tampering.
Rule-based Exception Handling
RPA system allows users to deploy bots using rules-based exception handling. This feature proactively handles the
exception. For example, RPA robot reports an exception, and then the actions given below are triggered:
 The same process is re-assigned to a different bot by the server.
 The current bot retries the same process and removes the previous bot from production.
 If retry is successful, the server maintains the reassignment and raises an alert to report exception & resolution.
 If retry is unsuccessful, it stops the current bot and raises an alert to report exception as well as failed resolute
Hosting and Deployment Options
The RPA system provides deployment options across virtual machines, terminal services, and cloud. Cloud deployment is
one of the best among all the other deployment options, which attracts most of the users due to its scalability and
flexibility.
Actionable Intelligence
This RPA feature refers to the ability to gain and apply knowledge as skills. Robots first obtain the data and then convert it
into information and transform the information into actionable intelligence for the users. Artificial intelligence and
cognitive intelligence are the common features of RPA solutions that help bots to improve decision making over the period.
Debugging
One of the biggest advantages of RPA from a development perspective is debugging. Some RPA tools need to be stopped
running while making changes and replicating the process. The rest of the RPA tools allow dynamic interaction while
debugging. It allows developers to test different scenarios by changing the values of the variable without starting or
stopping the running process.
Disadvantages of RPA
Some of the major drawbacks of Robotic Process Automation software are given below:
Potential Job Losses
If a robot can work faster with a more consistent rate, then it is assumed that there will be no need for human input. It is
the main concern for the employees, and these results as a major threat to the labor market.
Initial Investment Costs
RPA is still in the stage of innovation, and so it can present challenges that may result in unwanted outcomes. Therefore, it
isn't easy for organizations to decide whether they should invest in robotic automation or wait until its expansion. A
comprehensive business case must be developed when considering the implementation of this technology; otherwise, it
will be useless if returns are only marginal, which may not worth taking the risk.
Hiring Skilled Staff
Many organizations believe that to work with RPA, the staff must have significant technical knowledge of automation as
robots may require programming skills and an awareness of how to operate them. It further forces organizations to either
hire a skilled staff or train existing employees to expand their skills.
Employee Resistance
People are usually habitual, and any change in the organization may cause stress to the employees. People who are
involved in new technology will get new responsibilities, and they will have to learn new concepts of a specific technology.
Because everyone may not have the same level of knowledge, it may lead existing employees to resign from their job.
Process Selection
It is always best to choose tasks that are repetitive, rules-based, and do not require human judgment. The non-standard
processes are difficult to automate, and human interaction is required to complete such processes. So, there are limited
tasks that you can automate with RPA.
2. Explain RPA Use Cases/Applications.
There are several examples of Robotic Process Automation in our day to day tasks. In the present time, many multinational
companies are using this technology to automate their day to day tasks.
By implementing RPA, these companies are getting accurate, reliable, and consistent outputs with high productivity rates.
One of the most important tasks in the Robotic Process Automation program is the right selection of business processes
and activities. It ensures positive results by automating the tasks that are repetitive and rule-based.
RPA Use Cases

The following list is categorized into five different sections that display the RPA use cases:
1. Common business processes and activities
2. Activities in commercial functions
o Sales
o Customer Relationship Management
3. Activities in support functions
o Tech Support
o Technology
o Finance
o HR
o Operations
o Procurement
4. Industry-specific activities
o Banking
o Insurance
o Telecom
o Retail
5. Robotic Process applications for personal use such as digital assistants
There are several applications of RPA, but here, we are listing some of the common application areas:
Quote-to-Cash
It is considered as an important business process, which is responsible for increasing revenue for any organization.
Organizations are usually dependant on selling. If there is any issue in the operations side of selling, then it can lead to
customer's complaints.
Sometimes, organizations end up selling at reduced prices due to clerical errors. Automating such sales processes reduces
errors and provides fast service to the customers.
Procure-to-Pay
It is the process that includes the extraction of invoices and payment data from various networks such as banks, vendors,
logistics companies, etc. These networks usually do not provide easy integration methods. They generally involve manual
labor to complete the tasks, which can be replaced by the RPA bots. It is the best way to fill integration gaps with a fully
automated procure-to-pay.
Customer On boarding
Most of the B2C (Business-to-Consumer) organizations are following a customer on boarding process. They must maintain
good relations with their customers so that customers start using their products. Using cognitive automation and OCR
(Optical Character Reader), most of the customer on boarding tasks can be easily done. It can be applied even in companies
that rely on legacy systems, which will help in improving the customer experience.
Employee On boarding
The process of setting up and on boarding new employees is labor-intensive and time-taking for HR and IT analysts. It
includes a series of tasks such as creating new accounts, email addresses, access rights, etc.

Data Migration and Data Entry

Most companies are still using legacy systems to perform critical functions. A legacy billing system is an example of such
systems. It needs to interact with other systems that may not have the capability to get required data from APIs. In such
cases, employees manually perform tasks to migrate the data using formats like CSV. With the implementation of RPA,
manual labor, and unexpected clerical errors, can be reduced to the minimum level. Organizations can also automate entire
workflows of data entries, which can maximize productivity by reducing the time.
Data Validation
RPA is more suitable than any other tools to perform data validation tasks such as checking the accuracy and quality of
source data before using, importing, or processing the data. The primary aim is to create data that is consistent, accurate,
and complete, so there will not be any data loss and errors during a transfer.
Extracting Data from PDFs, Scanned Documents and other Formats
With technologies like Screen Scraping, OCR, and basic pattern recognition, data can be easily extracted from different
formats, which will help to reduce the requirement of inputting the data manually.
Periodic Report Preparation
In every business, employees need to prepare regular reports to inform managers about their work and progress. Preparing
such reports and sending them to the managers may distract employees. RPA solutions can be applied to auto-generate
reports, analyze their contents, and further email them to relevant managers.
Generating Mass Emails
If there is a need for sending mass emails frequently, then RPA can be a great option to automate the process.
Creating and Developing Invoices
Since automation is faster than manual processes, customers will get the invoices earlier, including earlier payments and
improved cash-flow. The process of generating invoices and sending it to the customers can also be automated.
Price Comparison
With the implementation of RPA, it is possible to keep track of the fluctuating prices. Software bots can easily create a
summary of prices and also extract data for the best pricing.
3. What are decision criteria and steps needed to build a business case
/implementation of RPA?
RPA software has provided an excellent option for corporate and shared services. It is an efficient, cost-effective alternative
to traditional process approaches. RPA implementations are increasing in popularity due to the money and resources
according to time. Once the organizations make sure to implement RPA, they are required to move forward with a stage-
wise implementation approach.
To implement RPA successfully in an organization, the organization must use time-tested and robust methodology. RPA
implementation mainly depends on the requirements of the organization. It typically includes the following stages:
Stage 1 - Access for RPA Opportunities

Organizations should find the right business processes before the implementation of RPA technology. Implementation with
the right processes can be beneficial for organizations. Every process in the business may not be suitable for the RPA
implementation. Therefore, organizations should conduct a high-level assessment of the potential processes and select the
right processes to be automated. It will help them to decide whether RPA is a good fit for their organization or not.
Once an organization has decided to implement this technology, they should set the objectives of the RPA initiative. It will
be an excellent choice to get an agreement from executive stakeholders on project objectives.

This initial stage examines which areas will get the most benefit by switching to RPA technology. It also includes technology
demonstrations by selected RPA vendors to serve as a POC (Proof of Concept) and platform for knowledge gathering.
Stage 2 - Select a Vendor
In this phase, organizations start finding RPA vendors based on the technical requirements of the organization. The
selection process is an opportunity for RPA providers or vendors to show how they meet the requirements and criteria of
the organization.
Organizations invite different RPA vendors to take part in the on-site presentation and show how RPA can help with the
growth of the company. Many vendors agree to demonstrate the whole presentation by applying RPA technology to the
selected processes as a proof of concept.
Then, organizations select a vendor that complies with their requirements and business objectives. There are two types of
implementation that RPA vendors may present:
 RPA vendors will conduct the configuration and test for the organization.
 RPA vendors will sell bot licenses and teach how to implement them.
Most vendors provide both of these services. So, it depends on the requirements of the organization to choose any of these
ways for the implementation. Many businesses opt for a vendor to code the initial pilot and develop an internal RPA center
of expertise to handle future implementations.
Stage 3 - Capture Process Steps, Pilot, and Implement
During this stage, businesses ensure whether human resources are trained and ready to execute the selected RPA
implementation plan. This stage also includes the activities required to support and test the IT environment. All the
implementation activities are documented, tracked, and completed as per the defined criteria.
This stage also includes the facilitation of the pilot for the selected process areas or use cases. It allows businesses to
observe the effectiveness and overall performance of the automation plan with an actual process in real-time.
As per the results of the pilot project, businesses may include scenarios that need to be automated, which showcase the
full extent of the RPA technology. If there is any problem, then the RPA development team analyzes and resolves it. It
further establishes the groundwork for upcoming state operational models.
Stage 4 - Manage the RPA Lifecycle
In this stage, the initial launch of RPA is processed. This stage also includes the planning for the ongoing success of RPA
software through proactive maintenance. This strategy should combine governance, operating model, organizational
structure, and change management plan of the RPA solution. There should be a good change management plan to estimate
the impact of change in processes and systems. So, the businesses will be able to limit the margin of error as they proceed.
Keys to Successful Implementation
Before implementing RPA technology, organizations should consider the following keys which will help in successful
implementation:
 Select the right project team for internal and external operations.
 Execute detailed work plans to ensure that no work is dropped.
 Form quick connections with IT, controls, and procurement.
 Estimate the impact of changes in people.
4. Explain Risks/Challenges of RPA Implementation?
1. Wrong use-cases for automation: Identifying wrong use cases for automation is a common mistake that challenges
RPA implementation and results in lower ROI. That’s why it is important to make a case for a proof of concept
(POC) before taking it ahead for automation.
2. Wrong platform: One of the top challenges of RPA implementation is choosing the wrong platform due to a lack of
knowledge of all the processes. Sometimes, the deciding factor is the cost, which can result in companies choosing a
platform that does not suit their business needs.
3. Lack of skilled resources: With the growing popularity of RPA, the demand for skilled resources has been on the rise.
Your RPA deployment can hit a roadblock if there is a shortage of skilled resources in your team.
4. Automating processes end to end: Sometimes there are processes that cannot be completely automated with RPA.
These processes then require the use of Machine Learning algorithms, which can be an added cost to the company
and to the project.
5. Cultural change: RPA implementation requires a cultural and mindset shift within the organization, starting from the
senior leadership. More than often, misguided information about RPA and its impact can create fear among people
that they might lose their jobs.

6. Technical ambiguity: Sometimes RPA deployment doesn’t lead to expected results due to ambiguity among the
technical staff. When people fail to ask important questions related to operating requirements during the
implementation, then the automation deployment can go for a toss.
7. Lack of ownership: When people are unaware of their roles and responsibilities in the new automated environment, it
can create disconnected dots. This leads to a lack of ownership and accountability among various teams.
8. Lack of infrastructure: Companies fail to consider their infrastructure and choose to invest in RPA. This is one of the
biggest challenges of RPA implementation since, without the proper infrastructure to deploy RPA, you cannot get the
desired results.
5. What are the impacts on accounting, finance and organizations?
RPA has gained huge interest from several public accounting firms, specifically related to taxation, advisory, and assurance
services. For instance, a significant portion of tax activities, like the calculation of book-tax variations and the preparation of
tax returns, have got automated due to the adoption of technology in accounting.
Unifying Policies, Procedures & Systems
It’s important to have unified policies, procedures, and systems before using RPA in the accounting field. Otherwise, it will
also result in speeding up the production of waste besides the automation of essential tasks. The hidden part of RPA is that
it extends across the entire process and automates those manual, error-prone procedures in the last mile of accounts,
which drastically minimizes the risk while delivering dependable data.
Reducing Cost and Enhanced Efficiency
According to Gartner, “The last mile of Finance is ripe for cost reduction and efficiencies. While costs and resource
consumption can be reduced by automating these processes, the bigger financial impact is in preventing the fallout from
penalties, fines, lawsuits and valuation that result from inaccurate filing of financial statements.”
With RPA, huge volumes of data can be processed in very less time while offering accuracy and giving visibility into the
tiniest of details, irrespective of region or division.
Financial Planning & Forecasting
Planning becomes very difficult if there is no availability of accurate data. The actuals are the blueprint for the business, by
comparing these against budget, and this is also where they can extract the forecast. The variables are changing rapidly in
the current market environment, the modern accounting processes gets adjusted accordingly. In the traditional
environment, finance often spends most of its time painfully getting the numbers right with manual, spreadsheet-based
processes. According to EY, “finance teams spend the majority of their time working on the financial works itself, which
means the business has to wait until after the period-end for information.”
Time-saving
RPA saves a lot of accountants' time. One can spend more time focusing on works that are useful for the growth of the
business. According to UiPath, “RPA can also reduce processing costs by up to 80 percent.” RPA gives a quicker turnover of
documents for approval, resulting in rapid clearing of suppliers’ invoices.
Maximum accuracy
Accounting errors result in a costly business. Technology in accounting like RPA is useful to fill several ledgers within less
time by retaining the quality of data with less to zero errors.
Improves productivity
By automating accounting processes, a lot of time will be saved for the employees. This will give them time to focus on
other important tasks, which will enhance their productivity. They can use their time and skills for doing other essential
tasks to serve clients the best.
Better customer experience
The RPA has helped to focus more on enhancing the quality of work, which increases customer satisfaction. Deploying an
RPA system gives firms better customer service, get a competitive benefit, and scale operations while decreasing the cost.
It also enables a top level of customer service and more strategic work for the team.
5. Write briefly about future of RPA?

Robotic Process Automation has grown exponentially over the past few years. The demand for RPA is increasing in the RPA
market as it promises to replace repetitive, rule-based, mundane, manual digital tasks with software robots. It also ensures
organizations to make their operational processes error-free.
Wider Adoption
As it is getting older, more organizations are coming to know about this technology and its benefits. Many multinational
organizations have already adopted this technology. Now, SMEs (Small and Medium Enterprises) and other mid-cap
industries are moving to adopt this technology. The technology is expected to be used by most of the remaining

organizations with the time.

Expansion
With the popularity of RPA, many use cases are also coming into the market. The use of RPA is expanding into various
sectors such as accounting, banking, financial services, insurance, retail, manufacturing, law, oil, and gas, etc.
Added Intelligence
RPA is evolving to include artificial intelligence and machine learning. We can expect that RPA will support unstructured
data processing and simple judgment based automation in upcoming days. This will help RPA to jump beyond just rule-
based technology.
Integration of additional tools
Because companies are adopting RPA to automate their processes, it will become common to integrate it with other tools
and software. It will be integrated with additional tools to enhance the features and make automation easier.
SPA will Combine
SPA stands for Smart Process Automation. Nowadays, RPA is somehow struggling to automate the unstructured data
process. With SPA, there will be a combination of different technologies such as machine learning, AI, and cloud technology
that will help to automate the unstructured data process.
Bots as service
It is a belief that RPA bots will be used widely as cloud services. There is a possibility that RPA vendors would be combining
Amazon AWS or Microsoft Azure to deliver their services on cloud with advanced AI capabilities.
According to the report by McKinsey & Company, it is predicted that RPA will have a significant economic impact of nearly
$5.2 to $6.7 trillion by 2025.
6. What is intelligent process automation (IPA)? Explain advantages of

IPS.
Intelligent Process Automation (IPA) refers to the application of Artificial Intelligence and related new technologies,
including Computer Vision, Cognitive automation and Machine Learning to Robotic Process Automation.
Intelligent process automation (IPA) is a combination of technologies used to manage and automate digital processes. IPA
should increase operational efficiency, worker performance and response efficiency to customers. They should also reduce
operational risk, with the goal of creating an effective operations environment.
What makes up IPA
Understanding what IPA is and what it can do starts with what technologies are used to make it possible. These
technologies include RPA, AI, machine learning and DPA.
 AI is the simulation of human intelligence processes by machines, especially computer systems. AI can be used to
analyze data faster than humans could, while recognizing patterns and learning from past choices.
 Machine learning is a type of AI that allows software applications to become more accurate at predicting
outcomes. Machine learning algorithms can use historical data as input to predict new output values.
 RPA is a software automation tool that can help in automating tasks. It can perform rule-based tasks and also
typically includes AI and machine learning. Typically, RPA is used to reduce labor-intensive tasks.
 DPA is software used to automate tasks with the goal of completing and optimizing a workflow. DPA focuses on
automating, or partially automating, tasks involved in business practices that typically need human interaction.
Benefits of intelligent process automation

The benefits of using IPA include:
 automation of previously manual and repetitive tasks;
 optimizing worker productivity by freeing them of routine tasks;
 coordinating work between software systems and people;
 providing an end-to-end visibility of processes and customer journeys;
 can help improve customer experience;
 reduces processing errors;
 decreases operational costs and transaction processing time; and
 makes it easier to adapt to changes in process.

UNIT – III
ARTIFICIAL INTELLIGENCE (AI)
1. What are the difference between the AI, ML & deep learning?
Artificial Intelligence Machine Learning Deep Learning
AI stands for Artificial Intelligence,

ML stands for Machine Learning, and is DL stands for Deep Learning, and is the study that
and is basically the study/process
the study that uses statistical methods makes use of Neural Networks(similar to neurons
which enables machines to mimic
enabling machines to improve with present in human brain) to imitate functionality
human behaviour through
experience. just like a human brain.
particular algorithm.
AI is the broader family consisting

ML is the subset of AI. DL is the subset of ML.
of ML and DL as it’s components.
AI is a computer algorithm which DL is a ML algorithm that uses deep(more than one

ML is an AI algorithm which allows
exhibits intelligence through layer) neural networks to analyze data and provide
system to learn from data.
decision making. output accordingly.
If you have a clear idea about the

If you are clear about the math involved in it but
logic(math) involved in behind and you
don’t have idea about the features, so you break
Search Trees and much complex can visualize the complex
the complex functionalities into linear/lower
math is involved in AI. functionalities like K-Mean, Support
dimension features by adding more layers, then it
Vector Machines, etc., then it defines
defines the DL aspect.
the ML aspect.
The aim is to basically increase

The aim is to increase accuracy not It attains the highest rank in terms of accuracy
chances of success and not
caring much about the success ratio. when it is trained with large amount of data.
accuracy.
DL can be considered as neural networks with a

Three broad categories/types Of AI
large number of parameters layers lying in one of
are: Artificial Narrow Intelligence Three broad categories/types Of ML
the four fundamental network architectures:
(ANI), Artificial General Intelligence are: Supervised Learning, Unsupervised
Unsupervised Pre-trained Networks, Convolutional
(AGI) and Artificial Super Learning and Reinforcement Learning
Neural Networks, Recurrent Neural Networks and
Intelligence (ASI)
Recursive Neural Networks
The efficiency Of AI is basically the Less efficient than DL as it can’t work

More powerful than ML as it can easily work for
efficiency provided by ML and DL for longer dimensions or higher
larger sets of data.
respectively. amount of data.
Examples of AI applications
Examples of ML applications include:
include: Google’s AI-Powered Examples of DL applications include: Sentiment
Virtual Personal Assistants: Siri, Alexa,
Predictions, Ridesharing Apps Like based news aggregation, Image analysis and
Google, etc., Email Spam and Malware
Uber and Lyft, Commercial Flights caption generation, etc.
Filtering.
Use an AI Autopilot, etc.
2. What is AI? Explain AI applications & advantages, challenges

1. Artificial Intelligence in Marketing: Technology has created opportunity for marketing for a verylarge
market of people. It has changed how people relate to information, technology, brands, and

services. Advertisement most sought goal which is relevance at a larger scale is achieved becauseof artificial
intelligence.
 Effortless Search Sessions: The uses current sessions work well but can be quite perplexing. With AI
working on digital marketing search engine and session get more efficient because they track user’s patterns,
profiles, search cycles and behaviors which help in predicting future behavior and decision which could lead to
finding accurate and better keyword.
 Delivering to the right target audience gets easy: A brands importance is increased when it is delivered to
the right people. AI-based digital marketing helps to achieve just that. It helps to get the best target audience for the
brand by finding people on the basis of interests, demography and other aspects.
 Improvement in advertising: AI-based marketing create advertisement according to the audience’s choice
and interest. AI designed for email marketing includes optimal, phrase and Persado. Platforms like InsightPool
and Conversocial give deep insight and work with influences for social media marketing.
Artificial Intelligence in Finance:
Finance is a part that governs everyone lives. The future of money just got more exciting because of artificial
intelligence. The prospects for smarter trading, reduced risks, less damage, personalized experiences are
heightened. E-commerce has gained its popularity in various amounts of field.
 Fraud Detection And Management: AI helps in tracking customer’s spending usage which helps decrease
fraud by figuring any odd behavior that may have taken place such as using a card in one part of the country and
within a few hours using it in some other part or withdrawing an unusual amount of money. Also, it learns from
it experience and makes even more wise decisions
 Assessment of risks: In any business a person always wants to know what are the risks that are going to be
involved. AI helps in gaining experience from past data. Since it is data driven and data dependent it helps in
understanding the loan repayment habits of a customer, the number of loans taken at what point in time,
number of cards etc. which can be used to find a reasonable interest rate for a large number of people.
 Financial Advisory Services: AI based robots work for single down payments at a time when people look
forward to reduced commission on investments. Bionic advisory combine both human and AI calculations to
provide efficient options as opposed to what they individually provide. It also helps in assisting in financial
decision-making.
 AI in Healthcare:
 Managing Medical Records and massive amount of Data: with the help of AI which help researchers
locate area of focus for their own research. 
 It could help find relevant insights by compiling and analyzing information.
 For example the discovery on the disease Amyotrophic Lateral Sclerosis (ALS) was made through a partnership
between Barrow Neurological Institute and the artificial intelligence company IBM Watson Health.
 The later went through thousands of pieces of research and was able to identify new genes linked to ALS.
 Data management is broadly used application of AI and digital automation.
 It gathers, stores and trace data to give faster and more consistent access. 
 Virtual nurses: In AI the patient’s conditions are monitored with the help of nurse bots or virtual nurses like
Ly’s Molly which helps monitor patient’s conditions and investigate treatments while on a doctor visit. AI-based
drug discovery software like atom wise uses the Deep Learning technique which creates medicine for life-
threatening diseases such as Ebola by scanning through prevailing medication which could end the disease.
Drug creation: It can predict the result of drug treatments and how advantageous a drug is for a person
providing highly personalized approach. Cancer patients are given the same drug and then observed to see the
effectiveness of that drug. It can save prominent time and money as no clinical trials are required. AI-based drug
discovery software like atom wise uses the Deep Learning technique which creates medicine for life-threatening
diseases such as Ebola by scanning through prevailing medication which could end the disease in one day while
analysis of this type and other methods could take months or years.
Challenges
 Algorithms are based on data. Any changes made to that data will change the behavior and outcomes.
 Any wrong step taken can transfer at a rapid pace causing large impact.

 “Almost anything bad you can think of doing to a machine-learning model can be done right now, ” said one
expert at a recent AI conference in Spain. “And defending it is really, really hard.”
Benefits of Artificial Intelligence
 Less Errors and better precision
 Helping with daily activities
 Assisted digital help
 Work 24/7, 365 days/year and do not need holidays and breaks
 More precise and accurate
 They are not paid
 They can be used in dangerous places such as nuclear power stations as opposed to humans who can be in
danger.
Disadvantages
 They can take many years to be established.
 Any misleading information or programming can accelerate a higher velocity.
3. How AI drives a competitive advantage

AI can drive a competitive advantage for businesses in a number of ways. Here are some of the key ways:
 Improved decision making: AI algorithms can analyze large amounts of data quickly and accurately, providing
insights that humans may have missed. This can help businesses make better decisions in areas such as product
development, marketing, and customer service.
 Increased efficiency: AI can automate many routine tasks, freeing up employees to focus on more complex and
strategic work. This can lead to increased productivity, faster time to market, and lower costs.
 Personalization: AI can analyze customer data to provide personalized recommendations, offers, and
experiences. This can lead to increased customer loyalty and higher revenue.
 Competitive analysis: AI can be used to analyze competitors' strategies, strengths, and weaknesses. This can
help businesses identify areas where they can differentiate themselves and gain a competitive advantage.
 Predictive analytics: AI can analyze historical data to make predictions about future trends and events. This can
help businesses make better strategic decisions and plan for the future.
Overall, AI can provide businesses with valuable insights, improve efficiency, and help them stay ahead of the competition.
4. Write about Industry drivers and real-world examples of AI

AI is being applied across a wide range of industries to solve complex problems, improve efficiency, and drive innovation.
Here are some examples of how AI is being used in various industries:
1. Healthcare: AI is being used to improve patient care, diagnose diseases, and develop new treatments. For
example, IBM Watson Health is using AI to analyze medical records and suggest treatment options for cancer
patients.
2. Retail: AI is being used to personalize the shopping experience, optimize pricing and inventory, and prevent
fraud. For example, Amazon uses AI to recommend products to customers based on their browsing and
purchase history.
3. Finance: AI is being used to detect fraud, automate trading, and improve customer service. For example,
JPMorgan Chase is using AI to analyze legal documents and automate the review process.
4. Manufacturing: AI is being used to improve quality control, optimize production processes, and predict

equipment failures. For example, General Electric uses AI to analyze data from sensors on its jet engines to
predict when maintenance is needed.
5. Transportation: AI is being used to optimize logistics, improve safety, and develop autonomous vehicles. For
example, Tesla is using AI to develop self-driving cars.
6. What is an AI strategy for the enterprise?

An AI strategy for the enterprise is a plan for how an organization will leverage AI to achieve its business goals. Here are
some key elements of an effective AI strategy for the enterprise:
 Business goals: The AI strategy should be aligned with the organization's overall business goals. This includes
identifying areas where AI can drive the most value and prioritizing AI initiatives based on their potential impact.
 Data strategy: A data strategy is essential for an effective AI strategy. This includes identifying the data sources
that will be used to train AI models, ensuring data quality and security, and establishing processes for data
collection, storage, and analysis.
 Technology infrastructure: An effective AI strategy requires a robust technology infrastructure. This includes
selecting the right tools and platforms for AI development and deployment, as well as ensuring that the
infrastructure can support the organization's AI initiatives.
 Talent strategy: An effective AI strategy requires the right talent. This includes hiring data scientists, AI
developers, and other experts with the skills needed to build and deploy AI models, as well as investing in training
and development programs to build the skills of existing employees.
 Governance and ethics: An effective AI strategy requires a strong governance and ethics framework. This
includes establishing processes for ensuring transparency and accountability in AI decision making, as well as
addressing ethical concerns related to data privacy, bias, and fairness.
An effective AI strategy for the enterprise requires a holistic approach that considers the organization's business goals, data
strategy, technology infrastructure, talent strategy, and governance and ethics framework. By taking a comprehensive
approach to AI, organizations can leverage the full potential of this powerful technology to drive growth and innovation.

UNIT IV
CYBERSECURITY
1. What is cyber security? Explain importance of security for
organizations & digital transformation/terminology of cyber security.
Cybersecurity is the way to prevent servers, devices, electronic systems, and networks from digital attacks, and
damage. It is essential for the integrity of data and systems in every field where data is present. Various forms of
cybersecurity threats includes virus, worms, malware, ransomware, phishing attacks, and hacking.
Digital transformation refers to the integration of digital technology into all aspects of an organization's operations,
processes, and customer experiences. As organizations become more digitally transformed, they become more reliant on
technology and data to drive their business forward. This increased reliance on technology also means that cybersecurity
becomes increasingly important.
Here are some key cybersecurity terminology and concepts that are important for organizations to understand as they
undergo digital transformation:
1. Cyber threats: Cyber threats refer to any malicious activity that targets an organization's digital assets, such as
data, systems, or networks. Examples of cyber threats include malware, ransomware, phishing, and denial-of-
service attacks.
2. Vulnerabilities: Vulnerabilities refer to weaknesses in an organization's digital systems or infrastructure that can be
exploited by cybercriminals to gain unauthorized access or cause harm. Vulnerabilities can exist in hardware,
software, and network infrastructure.
3. Risk management: Risk management refers to the process of identifying, assessing, and prioritizing cyber risks and
developing strategies to mitigate those risks. This includes implementing security controls, establishing incident
response plans, and monitoring for cyber threats.
4. Compliance: Compliance refers to adherence to relevant laws, regulations, and standards related to cybersecurity.
This includes regulations such as GDPR and CCPA, as well as industry-specific standards such as PCI DSS for the
payment card industry.
5. Cybersecurity culture: Cybersecurity culture refers to an organization's overall approach to cybersecurity, including
its policies, procedures, and employee training programs. A strong cybersecurity culture is essential for reducing
the risk of cyber threats and ensuring that employees understand their role in maintaining cybersecurity.
Organizations undergo digital transformation, it's essential to prioritize cybersecurity and ensure that the organization has
a comprehensive cybersecurity strategy in place to protect against cyber threats and vulnerabilities. By understanding key
cybersecurity terminology and concepts, organizations can develop a stronger cybersecurity culture and better protect
their digital assets.
2. Explain Attacks and the security mindset in cyber security.
In the world of cybersecurity, attacks can come in various forms and can have severe consequences if not addressed
promptly. Here are some common types of attacks in cybersecurity:
 Malware: Malware is malicious software that can infect computers and other devices. It can include viruses,
worms, trojans, ransomware, and spyware. Malware can be spread through email attachments, infected websites,
or by downloading malicious software.
 Phishing: Phishing attacks use social engineering techniques to trick people into revealing sensitive information,
such as passwords or credit card numbers. These attacks often use email, text messages, or social media to
impersonate legitimate organizations and request sensitive information.
 Denial-of-Service (DoS) attacks: A DoS attack is an attempt to make a website or online service unavailable to its
intended users by overwhelming it with traffic or requests. These attacks can be carried out using botnets or other
means to flood the target site with requests, causing it to crash or become unresponsive.
 SQL Injection: SQL Injection is a technique used to attack databases by injecting malicious code into an SQL
statement. Attackers can then use this to extract sensitive information from the database or gain unauthorized
access to the system.
 Man-in-the-Middle (MitM) attacks: MitM attacks occur when an attacker intercepts communication between two
parties, allowing them to monitor or manipulate the communication. This can be used to steal sensitive
information, such as passwords or credit card numbers.

In cybersecurity, having a security mindset is essential to protecting computer systems, networks, and data from
cyberattacks. A security mindset involves a way of thinking that considers security as a top priority in all aspects of digital
life. Here are some key elements of a security mindset in cybersecurity:
1. Awareness: Being aware of the potential risks and threats that exist in cyberspace is the first step in developing a
security mindset. This includes staying informed about the latest security trends and best practices, as well as
identifying vulnerabilities in systems and networks.
2. Proactivity: Taking a proactive approach to cybersecurity is crucial in preventing attacks. This involves regularly
updating software and systems with the latest security patches, using strong passwords and multi-factor
authentication, and monitoring networks and systems for suspicious activity.
3. Resilience: In cybersecurity, it's not a matter of if, but when an attack will occur. A security mindset involves
being prepared for potential incidents and having a plan in place to respond to them. This includes conducting
regular vulnerability assessments, having an incident response plan in place, and regularly backing up critical data.
4. Continuous learning: Cybersecurity is constantly evolving, and new threats emerge every day. A security
mindset involves continuously learning and staying up-to-date with the latest security trends, best practices, and
technologies.
5. Collaboration: Cybersecurity is a team effort. A security mindset involves collaborating with others, including IT
professionals, security experts, and end-users, to identify and mitigate potential risks and threats.
3. Explain the Cybersecurity frameworks including NIST CSF
A cybersecurity framework is a set of guidelines and best practices designed to help organizations manage cybersecurity
risks and protect against cyber attacks.
NIST Cybersecurity Framework (CSF): The NIST CSF is a framework developed by the National Institute of Standards and
Technology (NIST) to help organizations manage and reduce cybersecurity risk.
The NIST Cybersecurity Framework (NIST CSF) is widely considered to be the gold-standard for building a cybersecurity program.
The framework is composed of five core functions: Identify, Protect, Detect, Respond, and Recover. The framework
provides a set of guidelines and best practices for each function, which can be customized to fit the specific needs of an
organization.
IDENTIFY
 The Identify function is focused on laying the groundwork for an effective cybersecurity program.
 This function assists in developing an organizational understanding to manage cybersecurity risk to systems,
people, assets, data, and capabilities.
 Identifying physical and software assets to establish the basis of an asset management program
 Identifying the organization’s business environment including its role in the supply chain
 Identifying established cybersecurity policies to define the governance program as well as identifying legal and
regulatory requirements regarding the cybersecurity capabilities of the organization
 Identifying asset vulnerabilities, threats to internal and external organizational resources, and risk response
activities to assess risk
PROTECT
 The Protect function outlines appropriate safeguards to ensure delivery of critical infrastructure services and
supports the ability to limit or contain the impact of a potential cybersecurity event.

 Implementing protections for Identity Management and Access Control within the organization including physical
and remote access
 Empowering staff through security awareness training including role based and privileged user training
 Establishing data security protection consistent with the organization’s risk strategy to protect the confidentiality,
integrity, and availability of information
DETECT
 Detecting potential cybersecurity incidents is critical and this function defines the appropriate activities to identify
the occurrence of a cybersecurity event in a timely manner.
 Ensuring anomalies and events are detected, and their potential impact is understood
 Implementing continuous monitoring capabilities to monitor cybersecurity events and verify the effectiveness of
protective measures including network and physical activities
RESPOND
The Respond function focuses on appropriate activities to take action in case of a detected cybersecurity incident and
supports the ability to contain the impact of a potential cybersecurity incident.
 Ensuring response planning process are executed during and after an incident
 Managing communications with internal and external stakeholders during and after an event
 Analyzing the incident to ensure effective response and supporting recovery activities including forensic analysis
and determining the impact of incidents
 Performing mitigation activities to prevent expansion of an event and to resolve the incident
RECOVER
 The Recover function identifies appropriate activities to renew and maintain plans for resilience and to restore any
capabilities or services that were impaired due to a cybersecurity incident.
 Ensuring the organization implements recovery planning processes and procedures to restore systems and/or
assets affected by cybersecurity incidents
 Implementing improvements based on lessons learned and reviews of existing strategies
 Internal and external communications are coordinated during and following the recovery from a cybersecurity
incident
4. Write briefly about Elements of a cyber security risk management
program
 Cybersecurity risk management is a strategic approach to prioritizing threats.
 Organizations implement cybersecurity risk management in order to ensure the most critical threats are handled in
a timely manner.
 This approach helps identify, analyze, evaluate, and address threats based on the potential impact each threat
poses.
 A risk management strategy acknowledges that organizations cannot entirely eliminate all system vulnerabilities or
block all cyber attacks. Establishing a cybersecurity risk management initiative helps organizations attend first to
the most critical flaws, threat trends, and attacks.
Broadly speaking, the cybersecurity risk management process involves four stages:
 Identifying risk – evaluating the organization’s environment to identify current or potential risks that could
affect business operations
 Assess risk – analyzing identified risks to see how likely they are to impact the organization, and what the impact
could be
 Control risk – define methods, procedures, technologies, or other measures that can help the organization
mitigate the risks.
 Review controls – evaluating, on an ongoing basis, how effective controls are at mitigating risks, and adding or
adjusting controls as needed.

5. Explain Benefits of investing in cybersecurity

Investing in cybersecurity can provide numerous benefits for organizations, including:
Protecting sensitive information: Cyber security investments can help protect sensitive information, such as customer
data, trade secrets, and financial information, from theft or exposure. This can help prevent damage to an organization's
reputation and financial losses due to data breaches.
Meeting regulatory compliance requirements: Many industries are subject to regulatory compliance requirements related
to data security and privacy. Investing in cyber security can help organizations meet these requirements and avoid costly
fines and legal penalties.
Reducing business disruptions: Cyber attacks can disrupt business operations and cause downtime, which can be costly for
organizations. Investing in cyber security can help prevent these disruptions and keep business operations running
smoothly.
Improving customer trust: Customers expect organizations to protect their data and privacy. Investing in cybersecurity can
help build customer trust and confidence in an organization's ability to protect their sensitive information.
Enhancing competitive advantage: Cyber security can be a key differentiator for organizations, particularly in industries
where data security and privacy are critical. Investing in cyber security can help organizations stand out from their
competitors and gain a competitive advantage.
Increasing business resilience: Cyber security investments can help organizations build resilience to cyber threats by
developing incident response plans, conducting regular security audits, and implementing security controls that can help
prevent or mitigate the impact of attacks.
6. What are the Options for cyber security service offerings?
There are many different types of cyber security services that organizations can offer, depending on their specific needs
and requirements. Here are some common options for cyber security service offerings:
Network security services: These services help organizations secure their computer networks and prevent
unauthorized access to their data and resources. Network security services can include firewalls, intrusion detection and
prevention systems, and vulnerability scanning.
Endpoint security services: These services focus on protecting individual devices such as laptops, smartphones, and
tablets. Endpoint security services may include antivirus and anti-malware software, device encryption, and remote wipe
capabilities.
Identity and access management (IAM) services: IAM services help organizations manage user access to their
systems and data. These services can include multi-factor authentication, single sign-on, and identity governance and
administration.
Incident response services: These services provide organizations with a plan of action in the event of a cyber attack or
security breach. Incident response services may include threat intelligence, forensic analysis, and crisis management.
Security consulting services: Security consulting services help organizations assess their overall security posture and
develop a comprehensive security strategy. These services can include risk assessments, security audits, and security
architecture design.
Managed security services: Managed security services are outsourced security solutions that provide ongoing
monitoring and management of an organization's security infrastructure. These services can include 24/7 threat
monitoring, security event management, and incident response.

UNIT - V
BLOCKCHAIN
1. History of blockchain and bitcoin - Bitcoin and blockchain
characteristics
 Bitcoin is a digital currency that was created in 2009 by an unknown person or group of people using the
pseudonym Satoshi Nakamoto.
 The Bitcoin system was built upon a distributed ledger technology called the blockchain, which allows for the
secure and transparent transfer of data without the need for a centralized authority.
 The idea of the blockchain was first introduced in 2008 in a whitepaper written by Nakamoto titled "Bitcoin: A
Peer-to-Peer Electronic Cash System."
 The paper outlined a new system for creating and transferring digital currency using a decentralized network of
computers, rather than relying on a central bank or other intermediary.
 The blockchain is a decentralized ledger that records all Bitcoin transactions in a secure and transparent manner.
 Every node on the network has a copy of the block chain, which is constantly updated as new transactions are
added.
 Each block in the chain contains a cryptographic hash of the previous block, creating a permanent record of all
transactions that cannot be altered without the consensus of the network.
Bitcoin and the block chain have several key characteristics, including:
1. Decentralization: Bitcoin and the block chain are decentralized systems, meaning they are not controlled by a
central authority or institution. Instead, they rely on a distributed network of computers to validate transactions
and maintain the integrity of the block chain.
2. Transparency: The block chain is a transparent ledger that allows anyone to view all transactions on the network.
This transparency is a key feature of the technology, as it provides a high level of trust and accountability.
3. Security: The block chain uses advanced cryptographic techniques to ensure the security of all transactions on the
network. Once a transaction is recorded on the block chain, it cannot be altered or deleted without the consensus
of the network.
4. Immutability: The block chain creates a permanent record of all transactions that cannot be altered or deleted.
This immutability is a key feature of the technology, as it provides a high level of trust and accountability.
5. Pseudonymity: Bitcoin transactions are pseudonymous, meaning they are not linked to a person's real-world
identity. Instead, transactions are linked to a unique address on the block chain, which provides a degree of privacy
and anonymity.
Since its creation, Bitcoin and the block chain have been used for a variety of purposes beyond their original intended use
as a digital currency. The technology has been used for everything from supply chain management to voting systems, and
continues to evolve as new use cases are discovered.
2. What is push and pull paradigms for bitcoin technologies

Push and pull are two different paradigms for data transfer between systems or devices. In the push paradigm, data is sent
from one system to another without a request from the receiving system. In the pull paradigm, the receiving system
requests data from the sending system.
Push:
In the push paradigm, the sender initiates the data transfer and sends data to the receiver without the receiver requesting
it. Push-based systems are often used for real-time data, such as stock quotes or weather updates, where the data is
constantly changing and the receiver needs to be notified immediately of any updates. Push-based systems are also used
for notification systems, such as push notifications on mobile devices, where the sender pushes notifications to the receiver
without the receiver actively requesting them.
Pull:
In the pull paradigm, the receiver initiates the data transfer by requesting data from the sender. Pull-based systems are
often used for data that is less time-sensitive and where the receiver does not need to be notified immediately of any
updates. Examples of pull-based systems include web browsing, where the user requests web pages from a server, or
email, where the user requests new email messages from a server.
In the context of Bitcoin, the push and pull paradigms refer to the way transactions are broadcast to the network.

Push:
In the push paradigm, a Bitcoin transaction is created and then broadcast to the Bitcoin network by the sender. The
transaction is pushed to the network without waiting for the receiver to request it. Once the transaction is pushed to the
network, it is propagated to all Bitcoin nodes and eventually included in a block by a miner.
Pull:
In the pull paradigm, the receiver of a Bitcoin transaction requests the transaction from the sender. The receiver requests
the transaction using a Bitcoin address or other identifying information. Once the sender receives the request, they push
the transaction to the network as in the push paradigm.
- Core components of blockchain technology
Blockchain :
In 1991, the term blockchain was coined. Blockchain’s founder was an anonymous person who goes by the pseudonym Satoshi Naka Moto. For the
first time in 2009, the blockchain was implemented in accordance with bitcoin and bitcoin is a crypto valuta. Due to its open-source nature,
Blockchain has grown geometrically. Bitcoin was the first prominent blockchain. It is a decentralized technology, an unchangeable ledger for
documenting transactions between two parties. A blockchain is a chain of blocks containing unique data that solves the problem of double-spending
3. What are the Core components of Blockchain?

Distributed Ledger:
A distributed ledger is the core component of blockchain technology. It is a decentralized database that records all
transactions in a network. The ledger is distributed across multiple nodes, and each node has a copy of the entire ledger.
The distributed nature of the ledger makes it resistant to tampering, as any changes made to one copy of the ledger will be
rejected by the other copies.
Cryptography: Cryptography is used to secure the data stored in the blockchain. It uses complex mathematical algorithms
to encrypt data, ensuring that it cannot be tampered with or altered. Cryptography is also used to create digital signatures,
which are used to authenticate transactions.
Consensus Protocol: A consensus protocol is used to validate transactions on the blockchain. It is a set of rules that govern
how transactions are processed, verified, and added to the blockchain. There are different types of consensus protocols,
such as proof-of-work (PoW), proof-of-stake (PoS), and delegated proof-of-stake (DPoS).
Smart Contracts: Smart contracts are self-executing contracts that are encoded on the blockchain. They are computer
programs that execute automatically when certain conditions are met. Smart contracts can be used to automate complex
business processes, such as supply chain management, insurance claims processing, and financial transactions.
Network Nodes: Network nodes are computers that are connected to the blockchain network. They are responsible for
verifying and validating transactions on the blockchain. Nodes can be divided into two types: full nodes and light nodes. Full
nodes maintain a complete copy of the blockchain, while light nodes only maintain a portion of the blockchain.
Mining: Mining is the process of adding new blocks to the blockchain. It involves solving complex mathematical problems
using computational power. Miners are rewarded with cryptocurrency for successfully adding a new block to the
blockchain.
4. What are the differences between the Permissioned and

permissionless Blockchain
Permissioned and permissionless are two different types of blockchains based on who can participate in the network and
perform certain actions on the blockchain.
Permissioned Blockchain:
A permissioned blockchain is a private blockchain that requires permission from a central authority to participate in the
network. Only certain users or organizations are allowed to participate in the network and perform certain actions such as
creating new blocks, validating transactions, and accessing the data on the blockchain. The central authority is responsible
for granting and revoking permissions to users and organizations. Permissioned blockchains are typically used by private
companies or organizations for internal purposes or for collaboration with trusted partners.
Permissionless Blockchain:
A permissionless blockchain is a public blockchain that is open to anyone to participate in the network and perform certain
actions such as creating new blocks, validating transactions, and accessing the data on the blockchain. There is no central
authority that controls the network, and anyone can join the network at any time without permission. Permissionless
blockchains are typically used for public applications such as cryptocurrencies, where there is a need for transparency and

decentralization.
The main differences between permissioned and permissionless blockchains are as follows:
1. Access: In permissioned blockchains, access to the network is restricted to certain users or organizations, while in
permissionless blockchains, anyone can join the network.
2. Centralization: Permissioned blockchains are more centralized, as there is a central authority that controls the
network, while permissionless blockchains are decentralized, as there is no central authority that controls the
network.
3. Security: Permissioned blockchains are more secure, as they are restricted to trusted users and organizations,
while permissionless blockchains are less secure, as they are open to anyone.
4. Use Cases: Permissioned blockchains are typically used for private applications, while permissionless blockchains
are typically used for public applications.

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NEW SCIENCE DEGREE & PG COLLEGE DEPARTMENT OF COMPUTER SCIENCE VENKAT

HerearesomeBusinessAnalyticstoolswhichserveasexamplesofhowadvanced analytics is being used in a

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Advantages and Disadvantages of RPA

to access the end-user system in the same manner as human beings.

NEW SCIENCE DEGREE & PG COLLEG DEPT.COMPUTER SCIENCE VENKAT

NEW SCIENCE DEGREE & PG COLLEG DEPT.COMPUTER SCIENCE VENKAT

NEW SCIENCE DEGREE & PG COLLEG DEPT.COMPUTER SCIENCE VENKAT