Artificial Intelligence for

Business

A.K. Swain

IIM Kozhikode
 Course Outline
Number of Hours: 30
Course Description
Artificial intelligence (AI) is the simulation of human intelligence processes by
machines, especially computer systems. These processes include learning,
reasoning and self-correction. In the world of technology, AI is redefining the
industries and transforming the business processes by providing greater
personalization to users, automating processes, and disrupting how humans
work. AI has already become a reality with conversational chatbots, self-driving
cars, and smart manufacturing systems, and recommendation systems. AI is
expected to make disruptive changes in many industries such as Agriculture,
Art, Automotive, Construction, Education, Healthcare, FinTech, Law,
Manufacturing, Retail, etc. This course is meant to provide an insight to the
participants on leveraging machine intelligence to enhance the productivity of
organizations and to improve the quality of life. This will help the participants to
drive innovation by combining data, technology, design and people. The key AI
technologies discussed in the course include machine learning, deep learning,
natural language processing and robotics. The impact of AI tools on society will
also be discussed.

IIM Kozhikode 2
 Course Objective

• To appreciate AI capability as a competitive

edge in a dynamic global business environment
• To harness AI technologies to support the future
business needs
• To foster critical thinking & analytical abilities in
choosing and using AI tools
• To sensitize students about social & ethical
implications of using AI tools.

IIM Kozhikode 3
 Course Content
• Introduction to Artificial Intelligence
• Evolution of AI, The machine intelligence continuum, AI
technologies and algorithms, Applications of AI.
• Business Transformation with AI
• How AI is transforming the industry and the business
practice? The competitive landscape of machine
intelligence, AI and collective intelligence, Social and
ethical implications of AI.
• Machine Learning in Business
• Concepts of machine learning, Choosing machine
learning algorithms, Applications of machine learning,
Impact of machine learning in business.

IIM Kozhikode 4
 Course Content
• Deep Learning in Business
• Concepts of deep learning, deep neural networks,
deep learning opportunities and applications, computer
vision.
• Natural Language Processing in Business
• Evolution of NLP, How does NLP work? Planning for
NLP, NLP methods and applications.
• Robotics in Business
• Robotics process automation technology, Automating
processes and tasks, Autonomous vehicles.
• Business Roadmap with AI
• Creating a business roadmap for the strategic
implementation of AI.
IIM Kozhikode 5
 Reference Books
• Alex Castrounis, AI for People and Business, O’Reilly Media, Inc, 2019.
• On AI, Analytics and the New Machine Age, Harvard Business Publishing
House, 2019
• H.A. Simon, The Science of the Artificial, MIT Press, 1996
• Mariya Yao, Adelyn Zhou, & Marlene Jia (2018). Applied Artificial
Intelligence: A Handbook for Business Leaders, TOPBOTS Inc.(MAM)
• Paul R. Daugherty and H. James Wilson - Human + Machine_
Reimagining Work in the Age of AI, Harvard Business Review Press,
2018.
• K. Hosanagar, A Human’s Guide to Machine Intelligence, Penguin
Random House India, 2019.
• L. Dormehl, Thinking Machines, Penguin Random House LLC, 2017.
• M. Tegmark, Life 3.0, Allen Lane, Penguin Random House UK, 2017.
• Garry Kasparov, Deep Thinking: Where Machine Intelligence Ends and
Human Creativity Begins, John Murray, 2018

IIM Kozhikode 6
 Reference Books
• Doug Rose, Artificial Intelligence for Business: What You Need to Know about
Machine Learning and Neural Networks, Chicago Lakeshore Press, 2018.
• Steven Finlay (2017). Artificial Intelligence and Machine Learning for
Business, Relativistic Books.
• Ajay Agrawal, Joshua Gans & Avi Goldfarb (2018). Prediction Machines: The
Simple Economics of Artificial Intelligence, HBR Press.
• S. Hartley, The Fuzzy and The Techie, Penguin Random House India, 2018.
• The Next Analytics Age: Machine Learning, Harvard Business Review Press
(SAS), Nov-Dec, 2016.
• The Next Analytics Age: Artificial intelligence, Harvard Business Review Press
(SAS), Nov-Dec, 2016.
• M. Minsky, The Emotion Machine, Simon & Schuster, NY, 2006
• J. Brockman, What to Think About Machine That Think. Harper Perennial,
2015.
• T.H. Davenport and J. Kirby, Only Humans Need Apply, Harper business,,
2016.

IIM Kozhikode 7
 Pedagogy

Lectures and cases

IIM Kozhikode 8
 Evaluation

Evaluation method Weight in Percent

Class Performance, Assignments & 20
Attendance
Quiz 30
Presentation and Report 20
Examination 30

9
 Assignments

• All the answers should be very precise and to the point.

• Every submission should contain well thought out answers,
not just mere restating/copying the available readings (beware
of the plagiarism!!).
• All elaborations should contain own creative insights.
• All assignments should be submitted strictly before the
announced date.

10
 Grading

It is relative, normally, all the students will be

graded with respect to the highest marks in the
class. The letter grades will be assigned
corresponding to their actual marks scored in
each of the evaluation components. Instructor
reserves the right to assign letter grades based
upon his judgment of the overall class
performance.

IIM Kozhikode 11
 AI Systems

What is Intelligence?

IIM Kozhikode 12
 Search Based AI Systems
General Problem Solver (GPS): Proposed by
Simon and Newell in 1963.
Search Space: Where the AI based systems
search for a solutions.
Solution Space: A solution space contains
solutions to a problem represented through
many actions, or beliefs that that corresponds to
the status of the problem. It is essentially a
model of the problem domains.

IIM Kozhikode 13
 AI for Games
Successful implementations:
• Chess Program: Deep Blue – Defeated the
reigning champion Garry Kasparov in 1997.
• Checkers Program: Chinook – Placed second
in the U.S. National Open in 1991.
• AlphaGo
• Jeoparady!
• Poker Program – DeepStack – Defeated
professional poker players at HUNL with
statistical significance.
• Atari etc…..
IIM Kozhikode 14
The END

IIM Kozhikode