John Wiley & Sons Impact of Artificial Intelligence on Organizational Transformation Cover IMPACT OF ARTIFICIAL INTELLIGENCE ON ORGANIZATIONAL TRANSFORMATION Discusses the impact of AI on or.. Product #: 978-1-119-71017-2 Regular price: $195.33 $195.33 In Stock

Impact of Artificial Intelligence on Organizational Transformation

Balamurugan, S. / Pathak, Sonal / Jain, Anupriya / Gupta, Sachin / Sharma, Sachin / Duggal, Sonia (Editor)

Artificial Intelligence and Soft Computing for Industrial Transformation

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1. Edition February 2022
448 Pages, Hardcover
Wiley & Sons Ltd

ISBN: 978-1-119-71017-2
John Wiley & Sons

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IMPACT OF ARTIFICIAL INTELLIGENCE ON ORGANIZATIONAL TRANSFORMATION

Discusses the impact of AI on organizational transformation which is a mix of computational techniques and management practices, with in-depth analysis about the role of automation & data management, and strategic management in relation to human capital, procurement & production, finance, and marketing.

The impact of AI in restructuring organizational processes is a combination of management practices and computational technology. This book covers the areas like artificial intelligence & its impact on professions, as well as machine learning algorithms and technologies. The context of applications of AI in business process innovation primarily includes new business models, AI readiness and maturity at the organizational, technological, financial, and cultural levels. The book has extensive details on machine learning and the applications such as robotics, blockchain, Internet of Things. Also discussed are the influence of AI on financial strategies and policies, human skills & values, procurement innovation, production innovation, AI in marketing & sales platforms.

Audience

Readers include those working in artificial intelligence, business management studies, technology engineers, senior executives, and human resource managers in all types of business.

Foreword xxiii

Preface xxv

1 Artificial Intelligence Disruption on the Brink of Revolutionizing HR and Marketing Functions 1
Akansha Mer and Amarpreet Singh Virdi

1.1 Introduction 2

1.2 Research Methodology 4

1.2.1 Research Objectives 4

1.2.2 Data Collection 4

1.3 Artificial Intelligence in HRM 4

1.3.1 Recruitment 5

1.3.2 Engaging the Applicants and Employees 5

1.3.3 Orientation and Onboarding 6

1.3.4 Performance Appraisal 6

1.3.5 Training 7

1.3.6 Compensation 7

1.3.7 Employee Retention 8

1.4 Artificial Intelligence in Marketing 8

1.4.1 Creation of Customer Profiles/Market Segmentation 9

1.4.2 Cognizance of Consumers Purchase Behavior/Intention 10

1.4.3 Pricing 11

1.4.4 Content/Product/Service Recommendations/Search Optimization 11

1.4.5 Sales Prediction Based on Consumer's Demographics 12

1.4.6 Virtual Assistants/Real-Time Conversations 12

1.4.7 Visual Searching 12

1.4.8 CRM 13

1.5 Discussion and Findings 13

1.6 Implication for Managers 14

1.7 Conclusion 15

References 16

2 Ring Trading to Algo Trading--A Paradigm Shift Made Possible by Artificial Intelligence 21
Aditi R. Khandelwal

2.1 Introduction 22

2.2 Ring Trading 22

2.3 Features of Generation 1: Ring Trading 22

2.4 Generation 2: Shifting to Online Platform 24

2.5 Generation 3: Algo Trading 28

2.6 Artificial Intelligence 29

2.7 AI Stock Trading 30

2.8 Algorithmic (Algo Trading) Trading 31

2.9 Conclusion 31

References 32

3 AI in HR a Fairy Tale of Combining People, Process, and Technology in Managing the Human Resource 33
Jyoti Jain and Sachin Gupta

3.1 Introduction 34

3.2 Problem Recognition 35

3.3 Journey of AI in HR "From Where Till What" 36

3.4 Work Methodology of AI in HR 39

3.5 Branches of AI in HR 39

3.5.1 Machine Learning 39

3.5.1.1 Variance Detection 39

3.5.1.2 Background Verification 40

3.5.1.3 Employees Abrasion/Attrition 40

3.5.1.4 Personalized Content 40

3.5.2 Deep Learning 40

3.5.2.1 Important Use of Deep Learning in HR Context 40

3.5.3 Natural Language Processing 41

3.5.4 Recommendation Engines 41

3.6 Implication Stages of AI in HR 41

3.6.1 Automate 42

3.6.2 Augment 42

3.6.3 Amplify 42

3.7 Process Model of AI in HR 43

3.8 Key Roles of AI in HRM 44

3.9 Broad Area of Uses of AI in HR 45

3.9.1 Recruitment 46

3.9.2 Interviews 46

3.9.3 Reduction in the Human Biases 46

3.9.4 Retention 47

3.9.5 AI in Learning and Advancement 47

3.9.6 Diminish Gender Bias Equality 47

3.9.7 Candidate Engagement 48

3.9.8 Prediction 48

3.9.9 Smart People Analytics 48

3.9.10 Employee Experience 48

3.10 Dark Side of AI 50

3.10.1 Technical Requirements and Acceptance 51

3.10.2 Cost Involvement 52

3.10.3 Machine Biases 52

3.10.4 Job Losses 52

3.10.5 Emotional Turmoil 53

3.10.6 Fake Identity 53

3.10.7 Having an Audit Trail 53

3.10.8 Question on Decisions 54

3.11 Conclusion 54

References 55

4 Effect of Artificial Intelligence on Human Resource Profession: A Paradigm Shift 57
Jyoti Dashora and Karunesh Saxena

4.1 Introduction 58

4.2 Evolution of Artificial Intelligence 59

4.2.1 Phases of Artificial Intelligence 61

4.3 Changing Role of Human Resource Professionals 61

4.4 Effect of Artificial Intelligence on Human Resource Profession 63

4.4.1 Symbiotic Relationship Between Artificial Intelligence and Human Resource Profession 67

4.5 Limitations of Artificial Intelligence in HRM 68

4.6 Conclusion 69

References 70

5 Artificial Intelligence in Animal Surveillance and Conservation 73
Devendra Kumar and Saha Dev Jakhar

5.1 History 74

5.2 Introduction 74

5.3 Need of Artificial Intelligence 75

5.4 Applications of AI in Animal Surveillance and Conservation 76

5.4.1 In Livestock Monitoring 77

5.4.1.1 Chip and Sensor (RFID) 78

5.4.1.2 Microchip (GPS Tracker) 79

5.4.1.3 Mobile Application 79

5.4.1.4 Drone With Thermal Camera 79

5.4.2 In Wildlife Animal Monitoring 80

5.4.2.1 Motion Sensor Camera 80

5.4.2.2 GPS Base Animal Tracker 81

5.4.2.3 Smart Camera (Thermal Camera) 82

5.4.2.4 Satellite Base Tag (Ringing, Callers) 82

5.4.2.5 Acoustics/Sound Monitoring 82

5.4.2.6 Radio Transmitter (Transponder) 83

5.5 Some Other Tools of Artificial Intelligence 84

5.5.1 Computer Software and Application 84

5.5.1.1 Wildbook Comb (Bot) 84

5.5.1.2 Betty 84

5.5.1.3 Sensing Clues 84

5.5.2 Resolve's Trail Guard 84

References 85

6 Impact of Artificial Intelligence on Digital Marketing 87
Giuseppe Granata and Vincenzo Palumbo

6.1 Introduction 88

6.2 The Impact That AI Has on Marketing 89

6.2.1 The Data of Artificial Intelligence in Marketing 90

6.2.1.1 The Audience: Highly Targeted Marketing Segmentation 92

6.2.1.2 Journey to: The Customer's Road 92

6.2.1.3 Offer to: Advice-Based Behavioral Marketing 92

6.2.2 Number of Efficiency Powered by the Al Global Consumer Statistics 94

6.2.3 Cloud Computing: How it Interfaces to Marketing Thanks to Big Data 95

6.2.4 AI World is Made Also With BOT. Exactly What Are BOT? 98

6.2.5 The Chatbot: Service Robot as Support of Customer Care 99

6.3 The Community Regulation "GDPE" and Artificial Intelligence: Here's How Technology is Governed 101

6.4 The Case Study Estée Lauder 103

6.5 Conclusion 104

References 105

7 Role of Artificial Intelligence in Transforming the Face of Banking Organizations 109
Shweta Solanki, MeeraMathur and BhumikaRathore

7.1 Objectives 110

7.2 Introduction 110

7.2.1 Three Stages of Artificial Intelligence 111

7.2.2 Different Types of Artificial Intelligence 111

7.2.3 Trends and Need of Artificial Intelligence in Context of Indian Banking 111

7.2.4 Uses and Role of Artificial Intelligence in Banks in the Opinion of 113

7.2.5 Importance of Artificial Intelligence in Banking Practices and Operation 114

7.2.5.1 Chat Bots 115

7.2.5.2 Analytics 115

7.2.5.3 Robotics Process Automation 115

7.2.5.4 Generating Reports 115

7.2.6 Impact of AI in Banking Operations 116

7.2.6.1 Front Office Operations/Customer Centric 116

7.2.6.2 Middle Office/Operation Centric 116

7.2.6.3 Back Office/Decision Centric 116

7.2.7 Future of Artificial Intelligence in Banks 116

7.3 Existing Technology 117

7.4 Methodology 117

7.4.1 Search Process 118

7.4.2 Selection Criteria and Review Process 118

7.5 Findings 118

7.6 Conclusion 119

7.7 Suggestions 119

References 120

8 Artificial Intelligence and Energy Sector 123
Oum Kumari R

8.1 Introduction 123

8.1.1 Increase in the Emission of Greenhouse Gases 124

8.1.2 Increase in the Financial Burden 124

8.1.3 Huge Power Deficit 124

8.1.4 Water Scarcity 124

8.2 Challenges of Indian Power Sector 125

8.2.1 Global Warming 125

8.2.2 Depletion of Coal 125

8.2.3 Huge Financial Stress 126

8.2.4 Power Crisis 126

8.2.5 Health Issues 127

8.2.6 Plant Load Factor 127

8.2.7 Transmission and Distribution (T&D) Losses 128

8.3 Artificial Intelligence for Energy Solutions 128

References 129

9 Impact of Artificial Intelligence on Development and Growth of Entrepreneurship 131
Pooja Meena, Ankita Chaturvedi and Sachin Gupta

9.1 Introduction 132

9.2 Entrepreneurship 133

9.3 Artificial Intelligence 133

9.4 Artificial Intelligence and Entrepreneurship 134

9.5 Process of Entrepreneurship 135

9.5.1 Entrepreneurial Recognition 135

9.5.2 Human Capital 136

9.5.3 Technology Requirements and Idea Generation 136

9.5.4 Opportunity Recognition Phase 136

9.5.5 Opportunity Development 136

9.5.6 Resource Requirements 136

9.5.7 Entrepreneurship 137

9.5.8 Financial Resources 137

9.5.9 Opportunity Exploitation 137

9.5.10 Knowledge Networks 137

9.5.11 Validation of the Product 137

9.6 The Need of Artificial Intelligence for Business Development 138

9.6.1 Consumer Satisfaction 138

9.6.2 Cybercrime Protection 138

9.6.3 CRMs 139

9.6.4 AI-Based Analytics 139

9.6.5 Demand and Supply Management 139

9.6.6 Improved Maintenance and Better Equipment Safety 139

9.6.7 Searching Capable Employees 140

9.6.8 Virtual Assistance for Sales 140

9.6.9 Improvements With Self-Driven Technologies 140

9.7 Some Important Facts About AI 141

9.8 Opportunities for Artificial Intelligence in Business 141

9.8.1 AI in the Field of Marketing 141

9.8.2 For Track Competitors 142

9.8.3 Make Less Work of Huge Data 142

9.8.4 AI as Customer Support System 142

9.8.5 Artificial Intelligence in CRMs 143

9.9 Further Research Possibilities 144

9.10 Conclusion 144

References 145

10 An Exploratory Study on Role of Artificial Intelligence in Overcoming Biases to Promote Diversity and Inclusion Practices 147
Bhumika Rathore, Meeera Mathur and Shweta Solanki

10.1 Introduction 148

10.1.1 Objectives of the Study 149

10.1.2 Background of the Study 149

10.1.3 Relevance and Scope of the Study 149

10.2 Research Gaps Identified 150

10.3 Experiential Framework 150

10.3.1 Hypothetical Research Model 151

10.3.2 Methodology 151

10.3.3 Search Process 152

10.3.4 Selection Criteria and Review Process 152

10.3.5 Systematic Representation of Literature Review 153

10.3.6 Understanding Workforce Diversity 154

10.3.7 Benefits and Challenges of Workforce Diversity 155

10.3.8 Biases as Obstacles in Diversity and Inclusion Practices 157

10.3.9 AI as a Tool to Prevent Bias and Promote D&I Practices 159

10.4 Synthesis of the Study 161

10.5 Managerial Implications and Conclusion 161

References 163

11 Artificial Intelligence: Revolutionizing India Byte by Byte 165
Priyanka Jingar, Anju Singh and Sachin Gupta

11.1 Introduction 165

11.2 Objectives of the Chapter 166

11.3 AI for India's Transformation 167

11.4 Economic Impact of Artificial Intelligence 169

11.5 Artificial Intelligence and its Impact on Various Sectors 170

11.5.1 AI in Healthcare 171

11.5.2 AI in Banking and Finance 172

11.5.3 Artificial Intelligence in Education 173

11.5.4 Artificial Intelligence in Agriculture Sector 175

11.5.5 Artificial Intelligence in Smart Cities and Infrastructure 176

11.5.6 AI in Smart Mobility and Transportation 177

11.6 SWOT Analysis of Artificial Intelligence 178

11.6.1 Strength 178

11.6.2 Weakness 179

11.6.3 Opportunity 179

11.6.4 Threat 180

11.7 Conclusion 181

References 181

12 AI: A New Strategic Method for Marketing and Sales Platforms 183
Ravindar Meena, Ashmi Chhabra, Sachin Gupta and Manoj Gupta

12.1 Introduction 184

12.2 Objectives of the Chapter 184

12.3 Importance of Artificial Intelligence 185

12.4 Research Methodology 186

12.5 AI: The Ultimate B2B Growth Accelerator 187

12.5.1 AI Can Help Get Better Leads 187

12.5.2 Predictive Analysis Improves Pitches 188

12.5.3 Better Upsell Opportunities 188

12.5.4 AI is an Excessive Digital Assistant 188

12.5.5 AI and Improved Customer Conversations 188

12.6 The Existing Methods of Marketing and Sales 189

12.6.1 Being Lazy About Self-Promotion 189

12.6.2 Avoiding Networking 189

12.6.3 Bridging the New Product Launch Gap 190

12.7 AI Will Shape Marketing Strategies of Startup in the Future 190

12.7.1 Winning the Loots of Artificial Intelligence 192

12.7.2 The Control of Artificial Intelligence and Recorded Data 192

12.7.3 Artificial Intelligence the Game Changer for Small Businesses 192

12.7.4 AI Selling and Marketing for E-Commerce 192

12.7.5 Marketing Computerization to Modified Knowledge 193

12.8 Artificial Intelligence is Shaking up the Job Market 193

12.9 The Role of Artificial Intelligence and Machine Learning on Marketing 195

12.9.1 Traditional and Modern Marketing 196

12.10 Conclusion 197

References 198

13 Brain and Behavior: Blending of Human and Artificial Minds Toward Stress Recognition and Intervention in Organizational Well-Being 201
Manisha D. Solanky and Sachin Gupta

13.1 Introduction 202

13.2 Research Methodology 203

13.3 Fundamentals of Stress 203

13.3.1 Stress at Workplace 205

13.3.2 Symptoms and Outcome of Stress 206

13.4 Embracing AI Opportunity in Stress Management Interventions 207

13.5 Existing Technology for Stress Recognition 208

13.5.1 Smart Detection Devices 209

13.5.2 Stress Detection Through Physiological Signals 209

13.5.3 Sensor-Based Detection 210

13.5.4 Deep Learning Approaches for Stress Detection 210

13.5.5 Stress Detection Through Biofeedback Systems 210

13.5.6 Stress Detection Through Virtual Reality 212

13.5.7 Stress Detection Through Keyboard Strokes 213

13.5.7.1 Chatbots for Depression, Stress, and Anxiety 213

13.5.7.2 WYSA Chatbot 214

13.5.8 Stress Intervention Based on Human-Technology Interaction 214

13.5.8.1 Individual Level of Intervention 215

13.5.8.2 Organization Level Intervention 215

13.5.8.3 Devices Supporting Stress Interventions 216

13.6 Discussion and Findings 218

13.7 An AI--Eye to the Future 220

13.7.1 Implications to Managers 220

13.7.2 Implication to the Entrepreneurs 221

13.8 Conclusion 222

13.9 Limitations of AI in Human Resource Management 223

13.10 Conclusion 223

References 224

14 Alternative Financing 229
Suhasini Verma

14.1 Introduction 229

14.1.1 Sources of Funds for Individuals 230

14.1.2 Sources of Funds for Organizations 231

14.2 Alternative Financing 231

14.2.1 Features of Alternative Financing 231

14.3 Models of Alternative Financing 235

14.3.1 Peer-to-Peer Lending 235

14.3.1.1 Peer-to-Peer Lending Types 235

14.3.2 Crowdfunding 236

14.3.2.1 Equity-Based Crowdfunding 236

14.3.2.2 Profit Sharing Crowdfunding 236

14.3.2.3 Reward-Based Crowdfunding 237

14.3.2.4 Donation-Based Crowdfunding 237

14.4 Scope of Alternative Financing in India 237

14.5 Alternative Finance as a Tool of Financial Inclusion 241

14.6 Regulation of Alternative Finance 241

References 242

Further Web Links 243

Dissertation 243

15 Application of Machine Learning in Open Government Database 245
Shantanu P. Chakraborty, Parul Dashora and Sachin Gupta

15.1 Introduction 246

15.2 Literature Review 246

15.3 Overview of Open Government Data 247

15.4 Open Government Data in India 248

15.5 How to Create Value from Data 251

15.6 Artificial Intelligence 251

15.7 Why AI is Important? 252

15.8 Machine Learning 252

15.9 Concerns About Machine Learning on Government Database 254

15.10 Conclusion 255

References 255

16 Artificial Intelligence: An Asset for the Financial Sector 259
Swati Bandi and Anil Kothari

16.1 Introduction 259

16.1.1 Phase I 1950-1983 Origin of AI and the First Hype Cycle 260

16.1.2 II Phase 1983-2010 Reawakening of Artificial Intelligence 261

16.1.3 III Phase 2011-2017 AI Domains Competing Humans 262

16.1.4 The Present and the Future Phase (2018-2035) 264

16.2 Types, Technology, and Application of AI 265

16.2.1 Types of Artificial Intelligence 265

16.2.2 Artificial Intelligence Technologies 265

16.2.3 Applications of Artificial Intelligence 266

16.3 Artificial Intelligence and Financial Services 268

16.3.1 Artificial Intelligence and Insurance 269

16.3.2 Artificial Intelligence and Stock Market 275

16.3.2.1 From the History of Stock Exchange to the Development of Algo Trading in India 276

16.3.2.2 What is Algorithmic Trading? 276

16.3.2.3 Benefits of Algo Trading 277

16.3.2.4 Algorithmic Trading Platforms 277

16.3.2.5 Algo Trading Strategies 278

16.3.2.6 Impact of Artificial Intelligence on Stock Market 280

16.3.3 Artificial Intelligence and Mutual Funds 281

16.3.3.1 Mutual Funds Use AI in the Following Ways 282

16.3.3.2 Quantitative Fund's Investment Process 282

16.3.3.3 Quantitative Fund--Choosing Stocks Strategy 283

16.3.3.4 The Other Way Around 284

16.4 Conclusion 284

16.5 Glossary 285

References 286

Bibliography 287

17 Artificial Intelligence With Special Reference to Blockchain Technology: A Future of Accounting 289
Ashish Porwal, Ankita Chaturvedi and Sachin Gupta

17.1 Introduction 290

17.1.1 Artificial Intelligence and Accounting 290

17.1.2 Blockchain in Finance and Accounting 290

17.2 Objectives 292

17.3 Literature Review 292

17.3.1 Janling Shi 292

17.3.2 Nordgren et al. 293

17.3.3 Kiwilinski 293

17.3.4 Ahmed Farah 293

17.3.5 Odoh Longinus Chukwudi 294

17.3.6 Potekhina and Rumkin 294

17.4 Research Methodology 295

17.5 Usage of Artificial Intelligence in Accounting 295

17.6 Usage of Blockchain in Accounting 297

17.6.1 Bitcoin 297

17.6.2 Interbank Transactions 298

17.6.3 Property Registry 299

17.7 Impact of AI on the Field of HRM 300

17.8 Challenges in Execution 301

17.9 Conclusion 301

References 302

18 AI-Implanted E-Learning 4.0: A New Paradigm in Higher Education 305
Garima Kothari and B.L. Verma

18.1 Introduction 306

18.2 Research Methodology 307

18.2.1 Objective 307

18.2.2 Research Approach 307

18.2.3 Types and Sources of Data 307

18.3 Progression of Web and E-Learning 307

18.3.1 Some Relevant Definitions Distance Education 307

18.3.2 E-Learning 308

18.3.3 E-Learning 1.0-4.0 308

18.3.3.1 Web 1.0 E-Learning 1.0 (Link to Anything): 1997 to 2003 308

18.3.3.2 Web 2.0 E-Learning 2.0 (User Involvement): 2004 to 2006 308

18.3.3.3 Web 3.0 E-Learning 3.0 (Existing Data Reconnected): 2007 to 2011 308

18.3.3.4 Web 4.0 (Read/Write/Execute/Concurrency From 2012) 309

18.4 Artificial Intelligence in Learning 313

18.4.1 What is Artificial Intelligence? 313

18.4.2 AI En Routed the Learning 314

18.4.2.1 Smart Learning Content 314

18.4.2.2 Intelligent Tutoring Systems 315

18.4.2.3 Virtual Facilitators and Learning Environments 315

18.4.2.4 Content Analytics 315

18.4.2.5 Paving New Learning Pathways in the Coming Decade 316

18.5 Impact of Artificial Intelligence in Education (AIEd) 316

18.5.1 Will AI Take Over From Humans? 316

18.5.2 AI-Implanted E-Learning 317

18.5.2.1 Avatars 317

18.5.2.2 Hyper-Reality 318

18.5.2.3 The Hyper Class in Virtual Universities 318

18.5.2.4 JITAITs 319

18.5.3 Recommendations to Help Unleash Intelligence 319

18.5.3.1 Pedagogy 320

18.5.3.2 Technology 320

18.5.3.3 System Change 321

18.6 Conclusion 321

Concise Summary 322

References 322

19 Artificial Intelligence in Banking Industry 327
GarimaKaneria

19.1 Introduction 327

19.2 Banking on Artificial Intelligence 329

19.3 Role of Artificial Intelligence in Shaping Indian Banking Industry 330

19.3.1 Detection of Anti-Money Laundering Pattern 330

19.3.2 Chatbots 330

19.3.3 Algorithmic Trading 331

19.3.4 Fraud Detection 332

19.3.5 Customer Suggestions 332

19.3.6 Personalized Banking 332

19.3.7 Digital Payments 333

19.3.8 Robo Advisors 334

19.4 Influence of Artificial Intelligence on Indian Banking Industry 334

19.5 Reasons Behind Elongated Adoption of Artificial Intelligence in Banking Industry 336

19.5.1 Cut-Throat Competition in Banking Sector 336

19.5.2 Push for Process-Driven Services 336

19.5.3 Introduction of Self-Service at Banks 336

19.5.4 Customer Demand for More Customized Solutions 336

19.5.5 Creating Operational Efficiencies 336

19.5.6 Increasing Employee Productivity 337

19.5.7 To Help Focus on Profitability and Compliance 337

19.5.8 Use of Robotics Software 337

19.5.9 To Reduce Fraud and Risk Associated With Security 337

19.5.10 To Manage Large Information and Derive Value Insight 337

19.5.11 To Bring in Effective Decision-Making 338

19.6 Indian Banks Using Artificial Intelligence 338

19.6.1 State Bank of India 338

19.6.2 Bank of Baroda 339

19.6.3 Allahabad Bank 339

19.6.4 Andhra Bank 339

19.6.5 YES Bank 339

19.6.6 Housing Development Finance Corporation (HDFC) 339

19.6.7 Industrial Credit and Investment Corporation of India (ICICI) 340

19.6.8 Axis Bank 340

19.6.9 Canara Bank 340

19.6.10 Punjab National Bank 340

19.6.11 IndusInd Bank 340

19.6.12 City Union Bank 341

19.7 Pros and Cons of Artificial Intelligence in Banking Sector 341

19.7.1 Pros 341

19.7.1.1 Tracking of Transactional and Other Data Sources 341

19.7.1.2 Identification of Pattern Which May Be Eluded by Human Observers 341

19.7.1.3 Risk Assessment 341

19.7.1.4 Secure and Swift Transaction 342

19.7.1.5 Protection of Personal Data 342

19.7.1.6 Hedge Fund Trading and Management 342

19.7.1.7 Quick Transaction 342

19.7.1.8 Reduce Cost and Time 342

19.7.1.9 Upgraded Personnel Effectiveness and Customer Observation 342

19.7.1.10 Enhanced Banking Services 343

19.7.2 Cons 343

19.7.2.1 High Cost 343

19.7.2.2 Bad Calls 343

19.7.2.3 Distribution of Power 343

19.7.2.4 Unemployment 343

19.8 Intelligent Mobile Applications Drive Growth in Banking 344

19.8.1 Investment 344

19.8.2 Accounting 344

19.8.3 Banking Apps 345

19.8.4 Digital Wallet Apps 345

19.9 Conclusion 345

References 346

20 The Potential of Artificial Intelligence in Public Healthcare Industry 349
Megha Shrivastava and Devendra Kumar

20.1 Introduction 350

20.1.1 Drug Discovery 350

20.1.1.1 The Main Stages of Drug Discovery Might Take Several Years in Completion 351

20.1.1.2 Companies or Startups Used AI Techniques for Drug Discovery 351

20.1.2 Medical Imaging 352

20.1.2.1 Areas of Medical Imaging 352

20.1.2.2 Some Applications for AI in Medical Imaging Are at Present Applied in General Healthcare 353

20.1.3 Disease Prevention 354

20.1.3.1 Areas of Disease Prevention, Supported by AI System 354

20.1.3.2 Some Recent Software Used for Disease Prevention 354

20.1.4 Medical Diagnosis 355

20.1.4.1 Categories of AI Tools for Disease Diagnosis 355

20.1.4.2 Software Developed for Disease Diagnosis 356

20.1.4.3 Making Smartphone as Powerful Diagnostic Tools 357

20.1.5 Robotic AI 357

20.2 The Future of Artificial Intelligence in Healthcare 358

References 359

21 Banks to Lead Digital Transformation With Artificial Intelligence 361
Lavika Jaroli, Sachin Gupta and Parul Dashora

21.1 Artificial Intelligence 362

21.1.1 Human Versus Artificial Intelligence 363

21.1.2 Difference Between AI, NLP, NN, ML, or DL 363

21.1.3 Types of Artificial Intelligence 365

21.1.4 Innovations in Indian Banking Through IT 366

21.1.5 A Short History of Artificial Intelligence 366

21.2 Artificial Intelligence History Timeline 367

21.2.1 Objectives 367

21.2.2 Scope 367

21.2.3 Methodology 369

21.3 Why Artificial Intelligence in Banks 369

21.4 Goal of Artificial Intelligence 370

21.4.1 Innovations in Indian Banking Through IT 370

21.4.2 Innovation in Indian Banking Sectors 370

21.5 Artificial Intelligences Using by Different Banks 372

21.6 Implementation of Artificial Intelligence in Banking 375

21.7 Path Ahead Chatbots in Banking 377

21.8 Advantage of Artificial Intelligence in Banking Sector 379

21.9 Types of Risks and Threats Associated With Banking 380

21.10 Nature of Risks in Wireless Banking 380

21.11 Advent of Information Technology in Indian Banking Sector 383

21.12 Future Scope of AI 384

21.13 Conclusion 384

References 384

22 Effectiveness of E-HRM Tools Using the Functionalities of Artificial Intelligence During Remote Working in Lockdown Period 387
Nidhi Saxena and Aditi R. Khandelwal

22.1 Introduction 388

22.1.1 Artificial Intelligence in Electronic HR Management 389

22.1.1.1 Prospective Employee Engagement and Development 389

22.1.1.2 Employee Training 390

22.1.1.3 Candidate Selection for Recruitment 390

22.1.1.4 Development Needs of Employees 390

22.2 Literature Review 390

22.3 Objective of the Study 391

22.4 Research Methodology 392

22.5 Impact and Efficiency of AI-Enabled EHRM Tools in Work From Home Scenario Under Lockdown 392

22.6 Conclusion 395

Reading List 396

Index 399
S. Balamurugan, PhD, SMIEEE and ACM Distinguished Speaker, received his PhD from Anna University, India. He has published 57 books, 300+ international journals/conferences, and 100 patents. He is the Director of the Albert Einstein Engineering and Research Labs. He is also the Vice-Chairman of the Renewable Energy Society of India (RESI). He is serving as a research consultant to many companies, startups, SMEs, and MSMEs. He has received numerous awards for research at national and international levels.

Sonal Pathak, PhD is an associate professor at the Manav Rachna International Institute of Research & Studies, Faridabad, Haryana, India.

Anupriya Jain, PhD is an associate professor at the Manav Rachna International Institute of Research & Studies, Faridabad, Haryana, India.

Sachin Gupta, PhD is at the Department of Business Administration, Mohanlal Sukhadia University, Udaipur, Rajasthan, India.

Sachin Sharma is an assistant professor at the Manav Rachna International Institute of Research & Studies, Faridabad, Haryana, India.

Sonia Duggal, PhD is an assistant professor at the Manav Rachna International Institute of Research & Studies, Faridabad, Haryana, India.

S. Balamurugan, Anna University, India; S. Pathak, Manav Rachna International Institute of Research & Studies, Faridabad, Haryana, India; A. Jain, Manav Rachna International Institute of Research & Studies, Faridabad, Haryana, India; S. Gupta, Mohanlal Sukhadia University, Udaipur, Rajasthan, India; S. Sharma, Manav Rachna International Institute of Research & Studies, Faridabad, Haryana, India; S. Duggal, Manav Rachna International Institute of Research & Studies, Faridabad, Haryana, India