Course

Unit 1

Artificial Intelligence in the Business Context – Meaning and evolution of Artificial Intelligence from a business perspective – AI as a General-Purpose Technology (GPT). Difference between AI, Automation, Digitalization, and Analytics – Why AI matters for managers and business leaders and AI maturity levels in organizations & Common stages in AI maturity models. AI adoption trends in Indian and global businesses – Role of AI in gaining competitive advantage.

Unit 2

AI System and Business Value Creation – Conceptual understanding of how AI works, Role of data in AI-driven business, Types of data, AI enabled decision making VS Human decision making, predictive and prescriptive intelligence in business and its impact on business, Limitation and risks of AI based decisions. Understanding Bias in AI and its impact on business.

Unit 3

Functional Applications of Artificial Intelligence – AI in marketing – personalization, dynamic pricing, customer insights. AI in Finance – risk management, fraud detection, financial forecasting. AI in Human Resource Management – talent analytics, workforce planning. AI in operations and Supply Chain Management – Forecasting and Inventory management with AI. AI in Customer Relationship Management. AI in E Commerce platforms. Case studies of AI adoption in Indian and global organizations.

Unit 4

Data, Intelligence, and Decision Making – Data as a strategic asset for AI, Structured, semi-structured, and unstructured data in business. Role of Big Data in enabling AI – Key roles of big data in enabling AI. AI-driven decision-making vs traditional decision models. AI-powered Decision Support Systems (DSS) – Components and function of AI-DSS, Application across industries of AI-DSS.

Unit 5

Ethics, Governance, and the Future of AI in Business – Ethical challenges of AI in business decision-making. Bias, fairness, transparency, and accountability, Data privacy and regulatory frameworks (India and global) – Global trends and India’s alignment. Responsible AI and sustainable business practices – Advantages and Disadvantages. Impact of AI on jobs, skills, and managerial roles. Future trends in AI for business.

Course Objectives:

This course aims to introduce Artificial Intelligence as a business-enabling. The course focuses on how AI supports managerial decision-making, operational efficiency, customer value creation, and strategic transformation in organizations. Students will develop AI literacy for business leadership, understand opportunities and limitations of AI, and evaluate its impact on organizations, markets, and society.

Course Outcomes:

CO1: Understand Artificial Intelligence as a strategic and managerial tool in business organizations. CO2: Understand how AI systems use data to support business decisions and recognize their limitations and biases.

CO3: Evaluate the application of Artificial Intelligence across key business functions to enhance organizational performance, customer value, and strategic decision-making.

CO4: Analyze the role of data and AI-driven intelligence in enhancing managerial decision-making through AI-powered decision support systems.

CO5: Develop strategic awareness of future AI trends relevant to business leaders.

Text Books and References

• Artificial Intelligence: A Modern Approach” (AIMA) by Russell & Norvig – 3^rd
• Davenport, H., & Ronanki, R. – Artificial Intelligence for the Real World, Harvard Business Review Press