Information Technology: Impact on Business, Ethics, Networks and AI

This report examines the multifaceted role of information technology in contemporary business, focusing on its impact, associated ethical and social issues, the significance of computer networks, and the transformative potential of artificial intelligence. It begins by highlighting how IT enhances business operations through improved decision-making, efficient resource management, and enhanced communication with customers. The report then delves into the ethical and social implications of increased virtual interactions, emphasizing user security and privacy concerns. A detailed discussion of various computer network types, including LAN, WAN, and WLAN, illustrates their impact on business connectivity and resource sharing. Furthermore, the report explores how AI is revolutionizing business practices through data analysis, fraud detection, customer relationship management, and process automation. The analysis also references Barclay's successful integration of IT to improve customer service and strategic decision-making, showcasing real-world applications of the discussed concepts. Desklib provides access to similar solved assignments.

INTRODUCTION TO INFORMATION
TECHNOLOGY
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TABLE OF CONTENTS
ABSTRACT......................................................................................................................................3
INTRODUCTION...........................................................................................................................4
MAIN BODY..................................................................................................................................4
LITERATURE REVIEW................................................................................................................4
Theme 1: Impact of IT in helping business to enhance their business operation........................4
Theme 2: Importance of ethical and social issue in context of increasing in virtual world.......5
Theme 3: Different types of computer networks with their impact on business.........................6
Theme 4: Impact of Artificial intelligence in enhancing their business......................................7
ANALYSIS AND DISCUSSION...................................................................................................7
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................12
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ABSTRACT
Information technology is mainly use of computer to collect, store and maintained all
crucial information in well organised and effective manner to be used in future. LAN, WAN are
various network that contribute in building and maintain connection between computer so that
employees can easily communicate with each other. This report has discussed about information
technology, its impact and social and ethical issue face by business. It has also covered detailed
related to type of network and the impact of AI on enhancing business operation.
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INTRODUCTION
Information technology can be defined as use of software, hardware, supporting
infrastructure and services in order to manage and delivered information from one individual to
another. In another words, mainly computer is used to create, stores, process and exchange all
data, facts and information. There are many benefits of using information technology for
business such as help in decision making, store crucial information’s, fact and figure that may be
require in future etc.
Barclay is an multinational company that has started its operation on 17 November 1690,
having around 83500 employees that are dedicatedly working for growth and development of
company. Over the year, Barclay has expanded its business across worldwide and has earned
revenue around £21.766 billion.
The report contain detailed related to impact of IT in helping business, importance of
ethical and social issue associated with running business. Moreover it depicts information related
to different type of computer networks and their impact and the way AI lead in enhancing
business operation.
MAIN BODY
LITERATURE REVIEW
Theme 1: Impact of IT in helping business to enhance their business operation
From the view of Alam, (2021), information technology is making effective use of
computer to store, retain access, analysis and utilise the information so that correct decision
related to particular topic can be undertaken. Likewise, it is application of technology having
capabilities to resolve organisational problem in better manner. In recent scenario, with
development in technology, there are many companies that are making use of information
technology that has helped in achievement of end goals. Furthermore, through use of information
technology, company operating in service sectors, organisations are able to easily take their
decision and promote smooth operation in external environment. Therefore, the as per author IT
has dramatically transformed the live of people living in society.
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Camero and Alba, (2019), also illustrate that the Information technology help in
enhancing business operation such as cloud computing utilise information to capitalise on its
ability that lead in improving agility, time and management of resources of business. IT has also
helped in developing automated process that not only contributes in reducing overall cost but
time associated with running the business operation. Tracking metrics, monitoring certain
process, billing and collecting customers data are various automated process that are easily
happened through making use of information technology. Moreover, it also helps in working
remotely through effectively access the company network i.,e all employees have ability to get
work done even if they are not physically present at the workplace. So, all this function of
information technology has lead in improving the business operation and lead in its overall
growth.
According to Alfalah, (2018), there are various type of resources that individual require
in order to delivered qualitative services to customers within limited time frame. Likewise
human, financial and so on resources are needed by the business to gain competitive advantages.
IT helps in enhancing business operation because it play vital role in managing the resources
effortlessly by introducing or finding wide range of feasible solutions. So, the of task of resource
management is difficult for the company is easily managed through making use of information
technology by firm. Moreover, IT is one of the best tool that help company in effectively
communicate with its customers and solving their relative problem in limited time frame for their
satisfaction level. Therefore more happy and satisfied customers lead in increasing profit margin,
performance and customer’s retention ratio.
Theme 2: Importance of ethical and social issue in context of increasing in virtual world
As stated by Jakšič and Marinč, (2019), with evolution and usage of technology by more
and more people, business for different purposes, the chance of ethical and social issue has
increased. Ethics are moral principle, value that needs to be abided by each and every
organisation while operating in external environment. It also specify that there are various ethical
and social issue with increasing virtual world, among which the user security and privacy is
major concern. Such as with development of technology or people posting their personal
information on different social media platform, security and privacy issue has raise. There are
many business as well as individual living in society that are facing issue related to security and
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privacy of their useful information. At the same time, are highly concerned that it may not be
used for unnecessary purpose that could adversely harm them.
Schlagwein and et.al., (2017), also supported that, ethical and social issue are important
because it contribute in ensuring that no harm or disadvantage is caused to other for someone
benefits. Company by not abiding to ethical and social value can lost its customers base, profit
margin or it will lead in decrease in brand image of firm in mind and heart of customers. So,
ethic and social issue are crucial because they help in gaining confidence of customers or help in
building strong relationship with them for longer time frame. Furthermore, in current situation,
most of the people wants to be part of the organisation that followed ethical and social practices
so firm by abiding the same can achieve higher growth. It will also protect company from
unnecessary intervention of government, penalty and charges thereby lead smooth operation of
business.
Theme 3: Different types of computer networks with their impact on business
As noted by Galanek, Gierdowski and Brooks, (2018), computer network allows
employees to easily share their respective ideas, though and feeling so that the task can be
completed in most efficient manner. It is just multitude of connected computers that allows all
computers connected to network can effective share resources and data. In addition to this,
technology, capacity, structure, organisation purpose, structures are number of different
properties that are used to classified computer network. These are bunch of similar desktop
computer connected with bundles of candles but now they have become more flexible. Thereby,
computer network are most important IT solution that business need to implement in the business
for effectively achieving the desired goals.
Furthermore, another authors Chae, Koh and Park, (2018), explained that computer
networks are of different types such as Local Area Network, Wide Area Network, Wireless
Local Area Network, Storage Area Network and Metropolitian Area Network etc. Such as, LAN
(local Area Network) is most common and popular network design used by businesses and
homes. It connects device located within a single i.,e within limited areas for example a building
or home so interconnect device are present in similar geographical location. As per perspective
of WAN is wide area network that connects large group of computers over large distance so it is
used by only those business that have location at multiple geographical sites. Thereby they can
easily connect, share information with each other in real time to avoid confusion and conflict in
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future scenario. Interest is one of the best example of wide area network. Apart from LAN and
WAN, WLAN (wireless local area network) is an network that connect device using wireless
communication. It also required less number of wire to connect as compared to other networks.
Wireless local area network make use of high frequency radio waves and have one or more
access points that allows user to move around coverage area.
Theme 4: Impact of Artificial intelligence in enhancing their business
According to Allam and Dhunny, (2019), artificial intelligence can be defined as
simulation of human intelligence by computer system so that it can thing and take decision as
human. Companies that are adapting to the AI are becoming more and more diversified and
successful as they have capability to analysis data, detect fraud and helps in customer
relationship management. AI enhances business performance such as it contributes in getting
insight pertaining to market and customers. Predict analysis is applied to data assembled fro web
matrix, social media and system matrix in order to develop a better product or services that could
be delivered to target audience. So, prediction helps company in understanding what actually
happening i n external environment and the manner in which it can adapt to the same in order to
gain and retained competitive advantages.
Moreover, from point of view, Marcus and Davis, (2019 ), AI has enhance business as
many of the firm has started use of AI as it has contributed in virtual Assistance. Likewise
Chatbox is used to communicate with users or understand what type of service that they require
from the firm. So, AI has helped in providing machine drive assistance. Apart from this, Ai is
also useful in process automation as it quickly automating routine cognitive process and work 24
hour without any break. Artificial intelligence has also enhanced sales process, as previously
company sell what they have, but with development or changes in external environment it offer
what customer wants. Therefore, the AI has played important role in accumulating crucial
information related to the customers, their preferences. Thus help company in improving its sales
and marketing process with a motive to attract more and more customer within the organisation
for fruitful outcome.
ANALYSIS AND DISCUSSION
The success of Barclay lies behind it technology that help company to expand business
not only in United Kingdom but also different parts of the world to earn high revenue and market
share. Company by making best use of information technology is able to design and develop
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better solution for key issue that are face by its millions of customers. IT plays an indisputable
role in banking services as it has opened thousands of doors to serve the customers beyond their
expectation level. Barclay has make use of information technology to create and maintained
communication with customers, employees and shareholders. This has also helped Barclay in
offering continuous services to customers i.,e 24*7 hour services. Therefore, information
technology has act as blessing for banking business (Avgerou and Walsham, 2017). Moreover,
information technology has also helped Barclay in improving its overall strategies to attract more
and more customers in the firm. As through IT, it is able to gathered sufficient information
pertaining to its existing performance, key issue face by customers and many more. Thereby able
to make necessary changes in its strategy to grow and sustain its operation in external
environment for longer time frame.
Furthermore, it has been analysed that Barclay through use of information technology is
able to offer E-banking facilities to its customers. They can easily avail the banking services
while staying safe and secure at their home through making use of mobile banking, internet and
online and may be SMS banking. It has helped in providing ease to customers to easily check
their existing cash balance, request for fund transfer and request for check book from just home
or at any where. Thus, they need not have to go bank or stand in queue in order to get fund,
transfer payment or wants something else. Along with this, IT has contributed Barclay in
accumulating, retaining, maintaining all valuable and crucial in formation of company for
smooth operation (Chae, Koh and Park, 2018). There are lot many information that Bank such as
Barclay has to maintained for examples records of employees, financial data and transaction
information. Thereby the information help Barclay in storing all crucial information in safe,
secure manner at minimum cost possible.
In current scenario, with increase in competition level, Banks are making use of unethical
method to exploit the advantages of IT that negatively impact on other individuals or institute or
organisation. For instance, company by making use of information technology copying or make
use of ideas of other bank without its permission to stay ahead in competition. This result in
cheating for bank that has find out an innovative ideas or method to delivered services to
customer for their satisfaction level. At the same time, there is another ethical and social issue
faced by business i.,e personal and crucial information of customers and employees are
stolen by hacker and used for unnecessary purposes. All these may harm other person whose
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personal information has been used without its permission. Along with it, through study it has
also analysed that there are many organisation in services sector that track movement of
customers by making use of cookies (Lowe and et.al., 2018). On the basis of understanding of
customer’s preferences, behaviour, bank offer different range of services to customers likewise,
credit card, master card and many more. So such cyberbulling and cybercrime are not good for
society as it creates threat in mind of customers and they not prefer to have only banking services
at any cost.
It has also been analysis and understands that Social and ethical are important for
company as it helps in smooth operation of business. All employees of Barclay are happy and
satisfied as company is engaged in ethical practice that always motivates them to work hard for
its benefits. Barclay is able to retained its reputation in international and local market through
following ethical practice and taking step to provide maximum benefits to people living in the
society (Lowe and et.al., 2018). Furthermore, it has helped company in easily adding new and
existing customers in the firm as they trust its services. Therefore, in short ethical and social
issue needs to be eradicate by the company through continuously monitor each and every action,
making strict policies and procedure for better outcome.
The study has also helped in extracting crucial information related to different kinds of
network that are used by Barclay in order to share information, software and resources among
the employees that are working in the organisation. Such as local areas network, wide area
network and wireless local area network used to connect with its employees and timely delivered
services to customers as per their respective desire. In context of Barclay, it has make use of
LAN for official purposes that has contribute in maintained good communication and
relationship within employees (Acemoglu and Restrepo, 2019). They are no chance of confusion
and conflict in any case as through LAN network they share what all task, files, other document
and software needed to delivered services to customers. Furthermore, there are various
advantages of LAN network such as help in effective resources, internet sharing, centralised data
and lead better communication. On the contrary note there are two major limitation of LAN
likewise, it is more expensive i.e having high maintenance cost, along with this, it requires
constant upgradation.
Along with this, Barclay has also make use of Wide area Network as it has operation
across worldwide so WAN has helped in connecting with bank branch. Packet switched wired
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are used for network thereby all necessary information can be easily shared without much
wastage of time and capital (Acemoglu and Restrepo, 2019). With advancement in technology,
company have started making use wireless area network as in it no wire is present to develop
network thus it is more effective and useful. Furthermore, it helps in protecting employees being
tripped because of wire coming in between so Barclay by making use of different network has
maintained connection with both employees as well as customers.
Artificial intelligence leads in enhancing business success as it is innovative technology
that helps in providing more better services to customers. AI has brought drastic change in
Banking sector by contributing in providing ease to people to easily access any type of services
any type. This has make customers happy and satisfied as in current scenario, there are too busy
with their routine work thus does not have enough time to go to bank for transfer, withdrawal
and deposit. Barclay is huge enterprise with lot many employees and customers that has lay
emphasis on effectively adapting to new-new method or innovative technology to offer services
to customers (Collins and Moons, 2019). Likewise, through adapting to artificial intelligence,
customers can resolve their issue in minimum time frame without requirement of any other
individual. In addition to this, company is able to easily appraise customers credit histories more
accurately thereby take necessary decision related to whether to provide credit or not.
Barclay also have it mobile banking application through which the bank is able to easily
track financial transaction of customers and analysis it detail for further use. So, in short it can be
stated that it contribute bank in effective understanding the associated risk with issuing loans i.e.,
threat of fraud and customers insolvency and many more. Apart from all this, AI also contribute
Barclay in saving overall cost as less expense need to be incurred in order to complete different
task. So, effective services can be rendered to customers at minimum interest rate so that they
can be part of the organisation (Mitchell, 2019). Along with this, there are lot many sensitive
information present in bank about the customers if they are known by some other person and use
for bad purpose then it is harmful for both bank as well as its customer. So, Artificial intelligence
has contributed in maintaining security and privacy of all crucial information related to Bank.
Barclay is able to achieve growth and development by making use of AI in its operation as it has
lead in improving customers experience and satisfaction level to maximum extend.
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CONCLUSION
From the above report it can be concluded that information technology is on e of useful
application that helps businesses in having sufficient record of key facts or data that are
important for company. Along with this, through making use of IT, company is able to offer
services as per expectancy of customers in minimum time possible. Ethical and social issue are
important for business as it helps in creating a good brand image in mind and hearts of customers
so that they are part of that firm only as compared to other. Furthermore, through research it has
been learned that there are different network that could be used by Barclay to grow and expand
business in international market. Local area network, Wide area Network and wireless local area
network are main type of network that helps in effective exchange of information from one
individual to another for different purpose. At last, it can state that AI has helped in enhancing
business operation by making process simple.
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REFERENCES
Books and journals
Acemoglu, D. and Restrepo, P., 2019. 8. Artificial Intelligence, Automation, and Work (pp. 197-
236). University of Chicago Press.
Alam, T., 2021. Cloud Computing and its role in the Information Technology. IAIC Transactions
on Sustainable Digital Innovation (ITSDI), 1. pp.108-115.
Alfalah, S. F., 2018. Perceptions toward adopting virtual reality as a teaching aid in information
technology. Education and Information Technologies, 23(6). pp.2633-2653.
Avgerou, C. and Walsham, G. eds., 2017. Information technology in context: Studies from the
perspective of developing countries. Routledge.
Camero, A. and Alba, E., 2019. Smart City and information technology: A review. cities, 93.
pp.84-94.
Chae, H. C., Koh, C. E. and Park, K. O., 2018. Information technology capability and firm
performance: Role of industry. Information & Management, 55(5). pp.525-546.
Collins, G .S. and Moons, K. G., 2019. Reporting of artificial intelligence prediction
models. The Lancet, 393(10181). pp.1577-1579.
Galanek, J. D., Gierdowski, D. C. and Brooks, D. C., 2018. ECAR study of undergraduate
students and information technology (Vol. 12, p. 12). 2018.
Jakšič, M. and Marinč, M., 2019. Relationship banking and information technology: The role of
artificial intelligence and FinTech. Risk Management, 21(1). pp.1-18.
Lowe, D .J and et.al., 2018. Information technology in an audit context: Have the Big 4 lost
their advantage?. Journal of information systems, 32(1). pp.87-107.
Marcus, G. and Davis, E., 2019. Rebooting AI: Building artificial intelligence we can trust.
Vintage.
Mitchell, M., 2019. Artificial intelligence: A guide for thinking humans. Penguin UK.
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