Impact of Information Technology on business operations of a Barclays bank

This report analyzes the impact of information technology on business operations of Barclays bank, including its ethical and social issues, networking technologies, and the importance of artificial intelligence.

IIT Project
Impact of Information Technology
on business operations of a Barclays
bank
Abstract
Information technology is an important tool these days used in building and managing a database by
helping everyone solve problems with a computer or mobile phone to ensure the operation and
security of a business. Information technology also helps a person with his or her personal and
recreational purposes. As technology grows faster it helps the business to improve performance,
increase data transfer, information through various computer networks and the greater impact of
practical intelligence to improve the business
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Table of Contents
Table of Contents..................................................................................................................................2
1.Introduction........................................................................................................................................4
2. Literature Review..............................................................................................................................5
2.1 Information Technology and its impact in service sector businesses in general.........................6
2.2 Ethics and Social Issues of using technology in general...............................................................6
2.3 Networking Technology, different types in general.....................................................................7
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2.4 The Artificial Intelligence and its importance in general..............................................................8
3. Analysis and Discussion.....................................................................................................................9
3.1 Impact of Information Technology in the selected business........................................................9
3.2 Ethics and social issues in selected business..............................................................................10
3.3 Types of Networking Technologies that used in the selected business.....................................11
3.4 The importance of Artificial Intelligence in the selected business.............................................12
4. Conclusions......................................................................................................................................13
5.References........................................................................................................................................14
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1.Introduction
Explain the purpose of the project and provide and any background
information
Information technology is about making communication networks for a firm to manage and send
information using data, voice and video. There are many areas where this technology is utilised like
computer programming, MIS (Management information system), database administration,
multimedia conferencing and more. IT helps in the productivity and performance of a business as it
aids to keep all the records of various clients of different firms. In the report, Barclays is taken here
as the international bank, founded on November 17, 1690 and based in London, UK. It also provides
certain banking services through postal branches. Barclay’s customers and consumers of other banks
can use Barclays ATMs for free of cost in the UK. The report tells about the various IT suggestions
that assist the business to make better performance, the importance of IT ethical and social issues
around the world. This involves information technology that gives the best tools for customer
communication and issue solving which is an important part of all businesses as a happy consumer
base will remain interconnected to the firm and contribute to business growth (Mitchell, 2018).
.
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2. Literature Review
According to (Demortain, 2017), information technology is the work, design or management of
computer related information system specifically, software application and computer hardware. This
is also known as the utilisation of computer system for gathering, keeping or functioning any
information which is an important in business and the area of computing.
2.1 Information Technology and its impact in service sector businesses in
general
Information technology has important effects like advancement in process, updating worker skills
and product development which improves productivity in business operations. According to
Demortain, 2017 it will increase efficiency and flow of work that assists in growing automotive
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process of business which not only decrease the cost of operation but also saves time. It fives the
ability to obtain the network of firm by working remotely as it gives the ability to get the work done
even when a person is not present in a physical state. With the growth in fame of IT, mobile
technology has gained its place very fastly in the market. Information technology gives the
applicable resource to keep data on a very safe way (González-Andújar, 2020). In technology,
security plays an important role in business which gives protection of financial data, personal
executive decisions which leads to competitive advantages.
2.2 Ethics and Social Issues of using technology in general
Ethical issues are very important feature of information technology. As IT includes the parts which
are utilised to keep and handle the data at minimum level in the wide area of education, health,
banking at a large level. Social issues are the problems which impact many persons in the society as
development in this technology caused a major shift in the way that society operates (Knop, 2020).
According to Demortain, 2017, there are various ethical and social issues faced by information
technology include:
Misuse of private statistics: It is a form of criminal fraud wherein someone is trying to achieve
touchy facts like person name, password, and facts of banks and so on. It may be viable with the use
of numerous brand new technologies like hacking which is used in both wonderful and bad
approaches.
Develop charge fraud: on this ethical difficulty, a target victim will promise lots of money all in favour
of helping them that's a fraud for that individual. Individuals are required to pay a rate before
receiving promised services or products that are never given (Abuel-Reesh, 2017).
Communication breakdown: It is a sort of social issue wherein socialising in the own family is usually
an vital part which beef up the bond among each person. nowadays anyone are busy with their
laptops, smartphone or tablet and also while the complete family is out for dinner and still watching
at the screens instead of speak me with one another which indicates that each one are concerned in
era that they haven't any time for themselves
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2.3 Networking Technology, different types in general
A computer network is a group of pc related with each different which enables the laptop to speak
with another laptop and share their assets, records and packages. in line with Demortain, 2017,
networking in computer systems enable the employees to share ideas easily and efficaciously which
increases the productivity and generates earnings for the company.
There are various types of computer networks:
 LAN: it is a neighbourhood region community that connects laptop together inside a limited
location. That is the maximum not unusual and famous community layout that is determined
in maximum of commercial enterprise, buildings, houses etc. to percentage the information
and resources. Critical technology which might be concerned in this network is Ethernet and
Wi-Fi. Examples are: school, college, library, workplace etc.
WAN: It stands for extensive location network that's a massive computer community. This connects
businesses of computer systems or communication devices over big geographical distances. it may
additionally be defined as a set of neighbourhood place networks which communicate with each
other. It is far broadly used inside the enterprise, government, ad education (Campi and Garatti,
2018). Net is the maximum commonplace example of this community in which those networks does
now not require gadgets which might be dependent on bodily cables to connect with network.
 MAN: It stands for metropolitan area community which covers a larger geographic location
by means of connecting extraordinary LAN to form a larger network. on this, a tool which is
used for the transmission of statistics via man are Modem and cable used to give hyperlink
to the internet. Examples of Man are networking in cities, more than one homes and so
forth. these are the a part of cell phone corporation community which give excessive pace
DSL line to the purchasers or cable television community in a town (Shin, 2020).
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2.4 The Artificial Intelligence and its importance in general
Artificial intelligence is the affection system of human intelligence by using machines or robot
managed by way of a laptop to perform responsibilities which might be completed by human beings
due to the fact they want human intelligence and judgement. In line with Demortain, 2017, this field
additionally combines computer technology and information units for solving all the problems.
There are various impacts of synthetic intelligence to decorate the organizations because it saves
time and money by using improving the recurring strategies and responsibilities. This will help in
growing the productiveness and performance to make the fastest enterprise decisions that is
primarily based on output. synthetic intelligence also enables in improving income forecasting,
development in verbal exchange through which income specialists will manage their time and
understand the need of customers by creating fashions that have a look at datasets and disclose
elements that affect profit. It additionally helps in simplifying the customer service wherein they
answer queries speedy, available 24/7 (Hainey, Baxter and Ford, 2019).
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3. Analysis and Discussion
3.1 Impact of Information Technology in the selected business
In Barclays bank, statistics era approach constructing communiqué network for an agency, growing
and administering databases, help the people to restore the problems with pc or cell phones to
make sure approximately the safety of commercial enterprise statistics system. That is the fastest
developing enterprise which means that the usage of hardware, software program and services to
control and supply the records the use of voices, data and video. Facts era has a fantastic effect on
advertising in Barclays bank as these days the entirety is online so humans are using internet
advertising and marketing via using advertising strategies like seo, Instagram and many others. This
is all because through these locating goal audiences, coming across needs and constructing
advertising campaigns to persuade them to shop for. In case of Barclays bank, with the arrival of
innovation in the banking enterprise, exchange in banking practices could be very speedy. This
enterprise has placed its era from the ATM device to synthetic intelligence era that's now to be had
in banks. as the rising technological trend in marketplace, banks are also strolling very fast in the
marketplace through the usage of cloud era which use the records generation to offer blessings to
provide time and resource management. Clients have the capability to perform on line transactions,
transferring price range, make deposits and request withdraws from their non-public computer
systems. So, IT enables Barclays in product improvement, better market structure, implementing
diverse techniques for control of risks and helps the monetary mediators to attain remote markets
(Kaur, Sood and Kaur, 2017).
3.2 Ethics and social issues in selected business
Ethical and social problems consist of privateers and confidentiality, problems related to person
duty, ethnicity and so on.
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Ethics inside the virtual world us the maximum necessary part for the customers due to the fact
human beings should have ethics of the use of the net. Virtual international is a medium for all
people to interact with different individuals without difficulty so those people do no longer want to
face to face percentage the statistics. Era have a wide area of programs like banking quarter,
training, health etc. that's necessary to have the expertise of protection, privateers troubles and
important negative effects of IT. To manage up with most of these troubles of IT society, it is
important to find out moral problems (Gade, 2019).
Some ethical issues faced by information technology are:
Access right: In this aspect of ethical issue, it turns into a excessive priority for IT and computer
global with the first-rate development in technology. In context to Barclays bank, digital trade and
payment gadget improvement at the internet boom this problem for financial institution as
community at the pc cannot be made safe from unofficial get admission. As banks are permitting on-
line transactions, moving budget etc. for clients from home that is again feasible via the usage of net
but at the same time it becomes volatile too if it is accessed unofficially.
Huge statistics and privateers: With the boom and development in virtual technologies, IT has
brought a drastic exchange in monetary area too. A speedy approval of era in society, financial
system and financial quarter by using the usage of cloud computing, synthetic intelligence, block
chain, biometrics assist finance sectors like banks as a new pass of digital competitor and changing
activities by numerous people. In context to Barclays bank, to hold to agree with of purchasers,
banks have the extreme depth and duty to protect security, privateers and records. These outcomes
in dealing with situations through the banks: cyber security and data protection. Barclay’s banks are
coping with proper database control gadget and presents trust to consumers that they may be
getting first-class merchandise (Charles and Emrouznejad, 2019).
Social problems are subject that effect most of the people which help an individual to apprehend hat
there are many motives to assume and formulate the same issue. Records era is also essential in
absolutely everyone's lives as it aids in supplying numerous tools to uplift the improvement and
alternate the information to make the entirety smooth and solving all the issues.
Moral banking practice: In this, money may be invested socially and morally in an effective way and
might not be invested in some other element that could damage a society. In case of Barclays bank,
they promise their clients that they will no longer make investments their cash in products like
alcohol, tobacco, weapons and so forth. this will assist the financial institution to preserve the logo
reputation which assist them to amplify consumer base and increment in income.
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3.3 Types of Networking Technologies that used in the selected business
Computer networks are the interconnections of numerous computer systems for sharing of records,
assets and lots of extra. These gadgets are related through the hyperlinks may be referred to as
communication channels.
Diverse forms of pc networks are:
LAN: It stands for nearby location network. This is a maximum commonplace laptop community
which interconnects all the gadgets in a confined region like inside a identical building, home. The
best net-linked LAN wishes a router and different devices through Ethernet cables or hotspot. In
case Barclay’s financial institution, it use this community to serve for a small purpose for a restrained
vicinity (Juneja and Upreti, 2017).
WAN: It stands for extensive are community that connects smaller networks which allow localized
networks to connect to one another across an extended distances. it's miles a type of
telecommunication network which interconnect devices from multiple places. This community is
used by schools, banks, libraries etc. net is the sectors biggest WAN as it is the most various form of
a computer community inside the international. Transmission manage protocol / net protocol,
packet switching are a number of the technologies of WAN which might be used to transfer the
statistics. On the subject of Barclay, they use it to transfer information from their branches for each
day functions as it's far less high-priced.
MAN: This stands for metropolitan area network which connects multiple LANs in a massive region
however it's miles smaller than a WAN. It affords net connectivity for LANs in metropolitan vicinity
and interconnects them to the wide region community. It is designed for those customers who want
high pace connectivity and communication thru excessive speed carriers like optic cables. In case of
Barclays, for diverse phones and television, they use this network to provide excessive velocity DSL
lines that are used to deliver high pace net.
WLAN: It stands for Wi-Fi neighbourhood vicinity network. It is far a wireless community of
computer systems which connects or greater devices the usage of wireless connectivity
(McLaughlin, 2017). Cell phones, laptops, capsules, net audio systems are the examples of WLAN
devices which can be built the use of diverse Wi-Fi community protocols like Wi-Fi or Bluetooth. In
case of Barclay’s financial institution, they use many devices like laptops, cell phones and so on. For
his or her day by day use which may be very wireless for daily activities of ordinary private
communications (Chunli, 2019).
PAN: that is referred to as the non-public location community in which a community is related to the
alternate of information within the locality of someone. These connections can be executed wired or
wireless which might be used to defend all records and used very without problems without any
complications internal it. Examples of PAN are: Bluetooth, bar code scanners, speakers, online game
consoles and so forth. In context to Barclays bank, as it's miles a multinational financial institution
which Wi-Fi hold coping with its database management system and to transfer plenty amount of
data, it use this network between gadgets like computer systems.
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3.4 The importance of Artificial Intelligence in the selected business
Artificial intelligence is the effect of human intelligence tactics that is confirmed by using machines.
It is a massive department of pc technological know-how that's related to the constructing of
numerous smart machines who's able to perform a work. It also saves time and money via
optimising ordinary method and obligations which growth productiveness. Artificial intelligence
improves consumer relationships and helps organizations to ease their paintings. In case of
economic business enterprise like Barclays bank use this technology to perceive fraud and unusual
transactions, customer service and assist to make selections for cyber security and danger control.
Some artificial intelligence examples which might be used in Barclays bank are:
•Mobile banking: this is one instance of synthetic intelligence which is extra energetic, non-public,
and contemporary that is utilized by Barclays financial institution to do all the transactions remotely,
finding ATM locations etc. the use of cellular devices like smartphones or pills (Aronova, Oertzen
and Sepkoski, 2017).
•AI chat bots: this is computer software which use human conversation through voice commands or
text chats or both. This is maximum popular in Barclays bank which is used to communicate with
consumers and store a number of time for each verbal exchange that the chat bot handles.
This digitization in a bank supply diverse blessings in diverse things like fraud transactions, virtual
payments and so forth. This improves the experience of clients through handing over significant
patron engagement and construct sturdy family members with its clients.
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4. Conclusions
It is concluded from the above report that information era allows the business, government and
people to enhance successfully and efficiency. Records era gives various gear, to reinforce growth, to
change facts and to remedy all the troubles. Moral and social issues are becoming maximum critical
factor for an employer to preserve the privacy, security and unity of statistics. In statistics
generation, networking lets in the humans to share thoughts very without difficulty and operating
very efficiently. Computer networking increase productivity of the organization which is important
for every of the company. With the development in technologies on an everyday basis, synthetic
intelligence is turning into a wide region in an information generation that is used to enhance the
velocity and effectiveness of human efforts.
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5.References
Mitchell, M. B., 2018. Nursing, Informatics, and Technology: A Look Forward. In
An
Introduction to Nursing Informatics (pp. 57-74). Productivity Press.
González-Andújar, J.L., 2020. Introduction to Decision Support Systems. In
Decision
Support Systems for Weed Management (pp. 25-38). Springer, Cham.
Knop, M., 2020. Methodological implications of research on technology use by healthcare
professionals: A short introduction to multidimensional scaling.
Abuel-Reesh, J., 2017. A Knowledge Based System for Diagnosing Shortness of Breath in
Infants and Children.
International Journal of Engineering and Information Systems
(IJEAIS), 1(4), pp.102-115.
Demortain, D., 2017. Expertise, regulatory science and the evaluation of technology and risk:
Introduction to the special issue.
Minerva, 55(2), pp.139-159.
Campi, M. C. and Garatti, S., 2018.
Introduction to the scenario approach. Society for
Industrial and Applied Mathematics.
Shin, J. K., 2020. Introduction: Teaching English as an Additional Language in the 21st
Century. In
Contemporary Foundations for Teaching English as an Additional
Language (pp. 3-12). Routledge.
Hainey, T., Baxter, G. and Ford, A., 2019. An evaluation of the introduction of games-based
construction learning in upper primary education using a developed game
codification scheme for scratch.
Journal of Applied Research in Higher Education.
Kaur, S., Sood, S. and Kaur, G., 2017. Cloud computing interoperability: Introduction,
concerns and challenges.
International Journal of Advanced Research in Computer
Science, 8(5).
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Gade, D., 2019. Introduction to Smart Cities and Selected Literature Review.
International
Journal of Advance and Innovative Research, 6(2), pp.7-15.
Charles, V. and Emrouznejad, A., 2019. Big Data for the Greater Good: An Introduction.
In
Big Data for the Greater Good (pp. 1-18). Springer, Cham.
Juneja, N. and Upreti, K., 2017, August. An introduction to few soft computing techniques to
predict software quality. In
2017 2nd International Conference on
Telecommunication and Networks (TEL-NET) (pp. 1-6). IEEE.
Chunli, C., 2019. Brief Introduction of ISO 19650 Series-the Latest International Standard for
BIM.
Journal of Information Technologyin Civil Engineering and
Architecture, 11(3), pp.134-138.
Aronova, E., Oertzen, C. V. and Sepkoski, D., 2017. Introduction: Historicizing big
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McLaughlin, J. L., 2017. A New Open Humanities: Introduction.
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for Information Science and Technology, 43(5), pp.12-15.
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Important points to remember and follow while doing your
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 Your report must be in academic English, not as in daily spoken
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