(ICT101) Assessment 3 : Introduction to Information Technology

AI is becoming a common tool in businesses, with many leaders seeing it as essential. AI incorporates emerging technologies such as machine learning, cloud computing and big data. AGL, Australia's leading energy company, is using machine learning to manage and analyze the energy consumption of its customers, including allowing customers to return power to the grid to generate additional revenue. AI enhances companies' digital marketing and sales strategies by integrating all possible information sources to suggest new business strategies. Types of AI technology include machine learning, deep learning, natural language processing, and cognitive computing. AI can be used for smart agents, optimizing inventory orders, anticipating machine or system failures, detecting computer threats, identifying fraudulent customer activity, and more. AI increases organizational performance by automating manual processes or improving interdisciplinary processes. AI can reduce operational costs by automating tasks, improving efficiency, and increasing productivity.

Assessment 3
Semester 1, 2022
ICT101 Introduction to Information Technology
The contribution that Artificial
Intelligence can make in meeting the
challenges of AGL- Australian Gas Light
Company.
By: Aminul Islam
Student ID: CIHE22155
Submission Date: th may 2022
Word Count: 1624
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Executive summary:
The Australian Gas Light Company is an Australian gas and electricity retailer. It was formed in
Sydney in 1837 and AGL was the second company listed on the Sydney Stock Exchange in 1841 to
supply town gas for the first universal lighting of a street lamp in Sydney. The energy sector is one
of the most complex regions in the world. Economy It is a matter of increasing consumer demand
due to volatile commodity prices, regulatory flows, changes in climate change policy and adoption
of rooftop solar and personal battery storage systems. Success in the energy sector depends on the
company's ability to respond quickly, to collect large amounts of data from multiple sources, and to
work in close real-time. We have selected AI and ML topics for the report as shown below, AI / ML
applications bring integration of analysis, data science and automation that accelerate successful
digital transformation and fuel business results. This has led to indirect benefits such as improved
customer or civic service and top-line growth. Each company is challenged to stay competitive in
the market, increase revenue and reduce operating costs. AI is the single most powerful tool that
companies use to make informed decisions, drive new revenue streams, attract new customers, and
optimize the cost of doing business.
Table of Contents:
Executive Summary ……………………………………. 2
Table of Contents ………………………………..………2
Introduction ………………………………………….…..3
Body………………………………………………………4-5
References……………………………………………..….6
Introduction:
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Business artificial intelligence (AI) is fast becoming a commonly used competitive tool.
Clearly, companies have argued in the past about the advantages and disadvantages of
AI. Creating predictive recommendations from better chat bots to data analytics for
better customer service, deep learning and artificial intelligence are seen by business
leaders as an essential tool in their many forms. This puts AI on a short list of
technologies that the company needs to not only look at, but actively explore how to
take advantage. It incorporates leading emerging technologies such as machine learning,
cloud computing and big data. 54% of executives say AI solutions have already
increased productivity in their business. These leaders are using AI to automate very
complex processes for older technologies; To identify historical information trends;
And to provide visionary intelligence to strengthen human judgment. AI back office
functions such as tax and finance, do more with less and look to the future. Other AI
uses (PWC hundreds, in each case of the economy) include financial planning, medical
diagnoses, customized retail offers, and individual customer behaviour models. Soon AI
will transform transportation, manufacturing, media and much more the place to start is
a business problem AI will probably be part of the solution for strategy setting,
customer experience and care, billing, compliance, procurement and logistics.
Companies will need a system of ROI that can capture the indirect benefits of AI, such
as freeing people from mundane tasks or improving decision-making. But the problem
is just beginning to be solved. Long-term success demands an AI-linked strategy.
AGL, Australia's leading energy company, is a leading integrated essential services
provider with a proud history of 185 years of innovation and a strong belief in progress
- human and technological. They provide 4.5 million gas, electricity and
telecommunications services to our residential, small and large business and wholesale
customers across Australia. They operate Australia’s largest power generation portfolio
with a managed generating capacity of 10,984 MW, which is about 20%. The total
generation capacity in the Australian National Electricity Market is 7 Using machine
learning, it can create innovative ways to manage and analyse the energy consumption
of its 3.7 million customers. They may allow customers to return power to the grid
which will help AGL generate additional revenue. One of the most dramatic changes
facing energy companies in recent years has been the rise of home-made electricity.
Many families have reduced their reliance on traditional energy retailers because of the
combination of solar energy, better batteries to store that energy, and environmental
concerns. However, some families move completely off the grid, and most maintain
relationships with companies such as AGL - either at the top - to increase power supply
or to sell additional power to the grid.
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Body:
Artificial intelligence is rapidly changing businesses as it enhances the skills of
companies in digital marketing and sales strategies, integrating all possible information
sources to suggest new business strategies. To solve the problems faced by the
marketers and the use and marketing of their data, marketing efforts and sales growth.
But few know how to properly activate or use this information to become more
proficient in the market in which they operate. Artificial intelligence comes to give
these companies more intelligence about their data and advice on what to do with it, so
that they can better understand their customers and open up thousands of possibilities to
deliver what they need at the right time, with the right message. AI in a company can
discover real-time audience behaviour through large-scale data management, giving
companies unprecedented ability to make decisions. It is a unique technological
initiative that integrates artificial intelligence with data and programmatic purchases to
properly and effectively manage personalized visitors for the benefit of its clients.
Types of AI technology, such as machine learning, deep learning, natural language
processing and cognitive computing. Understanding what these are and what different
types of data and functions are good for each will help you better understand AI and
understand the needs and limitations of different goals. What kind of processing can AI
use for, such as image and speech recognition, predictive analysis? This will give you a
general idea that AI is being used not only for business, but also for government,
education, science and other researchers and others. Use Case: Smart Agents (for
phones, chat bots, and more), optimizing inventory orders, anticipating machine or
system failures, detecting computer threats, identifying fraudulent customer activity can
all help with certain tasks.
We have selected AI and ML topic for the report which is as shown below,
AI/ML applications bring about the convergence of analytics, data science and
automation that accelerate successful digital transformations and fuel business
outcomes. This has also led to indirect benefits like improving customer or citizen
services and boosting top-line growth. Every organization is challenged to remain
competitive in the market, increasing revenue and reducing operating costs. AI is the
single most powerful tool that organizations are using to make informed decisions, drive
new lines of revenue, attract new customers and optimize costs of business operations.
1. Increase organizational performance.
In the context of the organizational performance of AI growth, one question to consider is, "How is
AI automating a manual process or improving interdisciplinary processes?" There are a number of
uses for AI-related technologies - such as ML, deep learning and natural language processing (NLP)
- that can be used to create reliable, relevant, dynamic and intelligent information that can help
make decisions. An example is the use of NLP-based chat bots in customer service that can be used
to answer most of a customer's questions and in the case of a complex question, it can be
transmitted seamlessly to a human representative. They also offer backend integration with API
with their case management or ERP system.
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2. Reduce operational costs.
As companies work to recover their footprint in the post-epidemic world, one of the key focus areas
will be reducing operating costs. In general, the increased adoption of AI can be attributed to
automated manual or statistical-driven tasks that save time on repetitive tasks and increase focus on
high-value tasks. In the case of machine learning, the most common costs that lead to cost reduction
are inventory or price optimization, contact-center automation, and claims processing.
3. Launch innovative products.
Competitiveness in the market is essential for every commercial organization in the post-epidemic
world. One way enterprises are using AI is to capture market share or launch new product lines to
establish new lines of revenue. Under Armor, Fitness Brands uses machine learning to
automatically identify specific user categories to create highly customized fitness recommendations.
This gives Under Armor a competitive edge in the market with new and innovative product offers.
4. Meet customer expectations.
As consumers make efforts to protect the environment and switch to electric vehicles, most
automobile manufacturers have taken note. Features of autonomous vehicles often coincide with the
expectations of electric vehicles. Most of the traditional car manufacturing companies have started
investing heavily in research and development of autonomous vehicle technology. It involves
multiple artificial intelligence technologies such as vision recognition, machine learning, expert
autonomous systems, and more. Cruise by General Motors is one such example of a self-propelled
vehicle entering space.
5. Introduce new line of revenue.
While most enterprises benefit from the cost savings that machine learning applications have, there
are some examples of ML systems that could bring in new revenue lines. AI and ML applications
offer incredible opportunities - both cost savings and revenue growth, depending on usage.
Companies that have implemented machine learning algorithms over the last three to five years are
seeing a return on investment today. If your enterprise has not incorporated AI / ML into its
business strategy, then in 2021 it is time to focus on maintaining market competitiveness as well as
meeting customer expectations and generating new revenue.
References:
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• Reference 1: Artificial intelligence will transform how businesses reach out to customers:
Artificial intelligence (AI) is going to profoundly change businesses and by extension, the lives of
people. (2017, Mar 20). PR Newswire Retrieved from
https://www.proquest.com/wire-feeds/artificial-intelligence-will-transform-how/docview/
1878758684/se-2?accountid=197921
• Reference 2: AGL, accessed 31 May 2022 https://www.agl.com.au/
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