• 02 August   2021

    Is Liberal Arts the Future of Human Resources?

    Private Universities

    The responsibility of liberal arts at its initial phase was to equip individuals to become civic. In the medieval times, the study of philosophy and theology were incorporated to channel individuals in becoming ethical, conscientious, and wise. Linking that to Human Resources, HR professionals are largely responsible for efficient operations of employees and the business. Consequently, features of liberal arts programs, namely, communication skills, critical thinking, and being logical, ethical, wise, conscientious appears to be a good fit as for the qualities of a HR professional. Having said so, individuals from a literary background may not be appropriate HR professionals, then which combinations of liberal arts become suitable for HR roles?

    Top business schools in India training students for a HR specific degree incorporate a mix of industrial psychology, industrial sociology, business studies, micro and macroeconomics, social psychology and so on. Such combinations are curated specifically for HR related job roles for employees to gain a practical understanding of managing workforce in challenging situations. More precisely, beyond the traditionally designed degree programs of Bachelor of Technology, commerce and arts, Liberal arts is emerging as a new flexible discipline. Some of the renowned Universities in India provide a four-year integrated bachelor program. This program offers students the freedom of choosing their elective subjects from a wide range of disciplines of social sciences, mathematics, arts, and physical sciences. The main purpose of the program is to imbibe the qualities of problem solving, critical thinking and logical reasoning, among students. Such a practice aligns with the national and international curriculum accreditation bodies of Management Sciences.

    With automation taking over the procedures of management sciences, will liberal arts and management students create a mark in the organizations for taking ahead human resources? Only time can tell, but as for now, with dynamically changing work circumstances, HR professionals are to be equipped with skills of adaptability, innovation, and solution-focused thinking.

    Authored By:

    Dr. Namita Ruparel

    Assistant Professor

    School of Business,

    Woxsen University



    • 24 July   2021

    Woxsen University and MIT sign collaboration agreement

    Private Universities

    Woxsen University (India) and MIT (USA) have signed a collaboration agreement to grant academic credit to MITx learners when enrolling in Woxsen University’s MBA Program.

    The recent agreement allows students who have successfully completed the MITx MicroMasters learners to continue an advanced pathway at Woxsen University and acquire academic credits.

    The agreement is applicable to MITx MicroMasters Credential holders seeking to foray into the fields of Statistics & Data Science, and Finance with Woxsen University’s MBA programs.

    The MicroMasters program credential from MIT Open Learning is a professional and academic credential for online learners from anywhere in the world who seek focused, accelerated advancement.

    Know More

    https://micromasters.mit.edu/pathways-graduate-programs/

    Authored By:

    Dr. Raul Rodriguez,

    Dean

    School of Business,

    Woxsen University



    • 08 July   2021

    Artificial Intelligence: Revolutionizing Higher Education

    AI helps students with advanced tools and technologies in gaining surplus knowledge apart from classrooms. For improving the learning experience AI is the best solutions compared to traditional ways.

    For the teachers, AI helps in preparing course outline, marks grading, homework correction etc. This helps faculties to concentrate in developing student’s skillset, research and in improving their teaching methodologies.

    AI tools help in segregating and grouping the learning materials (smart content) such as e-books, audio and video lectures according to student preferences and course outline. By learning in this way, the process of learning and the outcome of the course will become student-oriented.

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    Generally, you should use lossy compression if you are okay with some information loss, which may not be exactly the same as the source file and lossless compression when you require a perfect reconstruction from the original file without any compromise on information loss. For Windows there is software called 7-Zip which is free and can be used for compressing different file formats and PeaZip is another free software which supports many different file formats for compression.

    According to the IQ level of the students, they can be classified as low, medium and high. Based on their level of IQ they can be trained with AI-Based systems. AI-powered smart tutoring systems help the students to access from any location and in creating personalized study plans.

    Voice Assistants such as Alexa, Siri, and Google assist the students in the absence of teacher in the classrooms. Implementation of voice assistant technology in the college campus makes the students to participate actively in classroom activities.

    AI-powered Attendance System helps in taking the attendance of students automatically. By implementing such a system, the student’s habit of giving proxy can be avoided and no need of spending much time in taking attendance.

    Facial Recognition and Voice Recognition helps in reducing malpractices while examinations. Many companies are now engaged in developing AI-powered tools for educational institutions such as,

    Nuance had created an app for speech-recognition. Beneficiaries of this app are who struggle with writing.

    Querium made customized STEM courses for schools and college students.

    Brainly is an online platform that provides a classroom environment for the students.

    Kidaptive is an Adaptive Learning Platform that creates a challenging task for students depending on their distinct strength and weakness.

    To make an improvement in the education sector, the various challenges faced by the students and faculties must be addressed with solutions employed by Artificial Intelligence. Artificial Intelligence and Machine Learning will impact in all in all growth and performance of students and also helps to lessen the stress and pressure on faculties.

    Authored By:

    Dr. Hemachandran K,

    Professor - AI & ML,

    School of Business,

    Woxsen University



    • 22 June   2021

    AI assists Human Judgment to create extraordinary value

    Private Universities

    AI is adding value to every form of human endeavour, radically transforming work processes, building high degrees of operating efficiencies while human judgment steps in when AI reaches the limit of its capabilities.

    Collaboration between Human Judgment and AI

    In order to take full advantage of the collaboration between humans and Artificial Intelligence, humans need to develop capabilities which will help build the collaboration. Humans will need to learn how to train artificial intelligence to map decisions and decision-making processes of humans. Humans need to figure out ways to understand the logic of the decision made by the AI device and humans must make sure that the device does not act in a manner that will harm the humans or violate principles of fair play followed by humans that override considerations of ‘rational’ decision-making processes. In other words, Artificial Intelligence must be aligned to the human way of decision-making in order make its decisions workable in human society.

    Making machines learn human decision-making processes

    The first step to harnessing the power of a machine’s information processing ability to process information the way humans do is to train the machine. Machine learning algorithms that mimic human decision-making processes must be developed. A vast amount of data must be collated to mimic the database humans rely on while making decisions. For example, a language processing and translating application must be fed with expressions and idioms used by humans while communicating in order to avoid literal translations. Medical diagnostic applications must be fed data on symptoms of a disease, diagnostic and prognostic procedures. Financial decision applications must be fed data on financial indicators for decisionmaking, decision making logic and actual decisions made by humans in thousands of decision-making situations.

    The Human Interface

    AI devices must be taught human interfaces in order to discern information communicated by humans the way it is communicated to other humans and information to be communicated to humans the way one human would communicate with another. Interpreting stimuli generated by humans into instructions that must be processed by machines, and interpreting responses generated by machines into responses that can be comprehended by humans is a major aspect of training AI devices.

    Creating human like responses

    Koko is a startup incubated by MIT Medialab. Koko does not use standard phrases while responding to situations. If the user seems to be having a bad day, Koko does not respond by saying ‘I am sorry to hear that; It would seek out more information and is likely to respond by saying that the stress may be good and lead to stimulating actions with positive outcomes

    Explaining decisions made by AI

    AI decisions may not follow a logical decision-making process. AI decisions may be made mimicking human decisions made in a given situation which may be based on a logic of precedent rather than a logic of reasoning. Therefore, if the decision of the AI device is counter intuitive, it may need explanation. If an explanation is not available, the decision may be rejected as an erroneously made machine decision, in which case it would be overruled by a human decision based on reasoning. Hence machine decisions must be explained by a reasoning logic. A medical practitioner would not accept a decision on prognostics unless it is supported by data from diagnostics and a logic for arriving at a line of treatment. AI supporting a legal process will be required to explain the reasoning behind a sentence to ensure that the decision is fair and has been taken considering all aspects of the situation. A driverless car makes decisions which should be interpretable to ensure that there is no programming error which could lead to accidents. In order to protect the rights of consumers regulatory agencies are stepping in to mandate the requirement to explain decisions taken by businesses while making offers to customers. The European Union has legislated the General Data Protection Regulation (GDPR) which gives consumers the right to know why a certain offer has been made to a certain customer by a business. For example, an insurance premium, a credit card offer or the price of a department store purchase.

    Aligning with Human Codes of Conduct: The role of ‘Ethics Sustainers’

    AI system decisions must be monitored by humans to make sure that the decisions do not violate a human code of conduct. The decision may not be harmful for humans in any way even though they may be logically arrived at and are correct otherwise. The role of ‘Ethics Sustainers’ ranges from basic accident prevention to examining the outcome of an AI decision which may not be in the best interests of humans. The sustainers are also tasked with understanding the ethics of a decision. The AI algorithm may map human decision-making processes and make decisions which discriminate between people. The decisions may reflect bias against a group of people. The Ethics Sustainers would be tasked to prevent such biases. In order to make the right decisions, AI systems need to gather data from various sources. The collection of data for use by AI devices could infringe on the privacy of customers. Ethics Sustainers have a role in ensuring that data collected by the system to facilitate decision-making is not used in an unethical manner. Privacy of customers must be maintained.AI may learn about individual customers and customer groups in a statistical sense but it may never violate the privacy of customers by disclosing the data to third parties or use the data for any purpose other than the designated decision-making processes.

    Private Universities AI Assisted Manufacturing

    Assembly lines are notorious for their inflexibility. The inventor of the moving assembly line, Henry Ford famously said about the Ford Model T- You can have it in any colour as long as it is black! Assembly lines have become much more adaptable since then. But the advent of the Cobot makes the Assembly Line truly flexible. Robots that are aware of their surroundings are called contextual robots or Cobots. In an industrial context work can be divided between human workers and Cobots according the skillets needed. Repetitive jobs requiring high effort, low dexterity and standard maneuvers are performed by Cobots. Tasks which require dexterity, judgment and are intricate in nature are performed by humans. The robot is incapable of executing the variations required in individual cars being assembled, when each car has a customized feature. The human assembly operator could execute the changes. But as robots take over assembly functions, this is no longer possible. But with the introduction of the ‘Cobots’, this has changed. At the M ercedes plant at Stuttgart, the assembly line is operated by Robots. The company has introduced a system of human pilots who direct the robot to execute customized tasks. The Robot executes the tasks that require hard labour and heavy lifting. The humans guide the robots to execute custom tasks. The human pilots are able to reprogram the robots on the fly using tablets. The demand for customization is fulfilled. At the Stuttgart plant of Mercedes, no two cars coming off the assembly line are the same. This is possible because the Robots are piloted and re programmed by human operators.

    Private Universities Wearable Robots (Excoskeletons)

    Hyundai has created the concept of Excoskeletons. Excoskeletons are wearable robots which can perform repetitive tasks and tasks requiring extra ordinary physical effort. They are guided by the human wearing the device. The Excoskeleton interoperates with the human operator and performs the tasks demanding physical effort while the human operator takes of tasks requiring judgment and dexterity.

    AI assisted Product Design

    Artificial Intelligence can contribute to the field of creativity. Autodesk has an AI Application known as Deeamcatcher. The Dreamcatcher is an AI application used for designing furniture. Dreamcatcher is fed with hundreds of thousands of furniture designs of various furniture. If Dreamcatcher is given a certain set of specification such as the weight and size of the user and the preferred design type, the AI device can create hundreds of designs which even the most creative designer may not have thought of. Dreamcatcher not only does the computations needed to arrive at a design, it picks design types which would appeal to the customer.

    Private Universities AI assisted Customer Interface

    Companies are experimenting with AI applications and looking for opportunities for scaling up.SEB, a major Swiss bank has an AI application called Aida. Aida is capable of handling natural language queries and can engage customers in conversation too. SEB created the AI application Aida initially as a help application for its employees numbering 15,000/- This was a low-risk application since a parallel human helpline war always available in the event of a failure of the AI entity. Once the application stabilized, SEB became confident of implementing it across its customer base running into millions of people. Aida has access to vast amounts of customer data and decision algorithms. Aida can ask follow through questions. It can detect tone of voice indicating emotions such as appreciation, frustration and concern. Aida is capable of understanding at what point the concern is not getting resolved or the customer is getting frustrated. At an appropriate point Aida transfers the call to a human representative.

    AI for Administrative Process Automation

    Consumer goods giant Unilever employs 170,000 people worldwide. It recruits thousands of people every year from a pool ten times as big. In order to shortlist candidates, the company has introduced an AI based application at the early stage of recruitment. The application invites candidates to play video games. The video games are programmed to discover traits such as risk aversion. Based on the candidate’s behaviour while playing the games, the application creates a shortlist of candidates. The shortlisted candidates are next interviewed by human selectors. The combination of the AI and human process significantly reduces human intervention and potential human error in recruitment. The application also serves to expand the pool of prospective hires. The process of applying for a job at Unilever is now vastly simplified. Applicants can download the recruitment application on their smartphones and navigate the first phase of the application online which requires no human intervention. The process has led to the number of Universities participating in the recruitment drive rise from 840 to 2,600. The number of applications doubled from 15,000 to 30,000. The time required for processing the application has dropped from sixteen weeks to four weeks. The time recruiters spent on the process has dropped by 75%.

    Private Universities AI for Rapid Response

    In many businesses, speed is of the essence. In credit card use for example, the system needs to determine whether a transaction needs to be accepted or declined within seconds. If the transaction is fraudulent, the credit card company will have to absorb the loss. If it is genuine, declining will lead to loss of revenue and customer dissatisfaction. HSBC has created an AI enabled system which monitors credit card use patterns based on customer use pattern, location, IP address and other information that profiles the customer. Any deviation from the pattern signals possibility of a fraud. This is detected in nanoseconds.

    Private Universities AI in Agriculture

    Crop and seed giant Monsanto and IBM have collaborated to identify optimal conditions of temperature, weather, soil conditions, precipitation, seed variants, fertilizer and pesticides to arrive at the right combination of inputs in order to maximisre crop yield and revenues. The analytical complexity of such optimality computations is very high and the application of conclusions so derived may be difficult to achieve. AI scientists have arrived at a different route to the situation. Farmers spell out the variables they need to optimize in order to maximise the gains from their efforts. The information requested may be limited to a few options of crops vis a vis inputs such as nitrogen content of fertilizer and soil conditions. The analytics could be restricted to a limited number of variables, making the process faster and far less complex. This is an instance of human knowledge and decision-making process being complemented by AI and analytical tools.

    Private Universities AI assisted Office Procedures

    Cortana is a voice-enabled virtual assistant developed by Microsoft to help Windows 10 users initiate requests, complete tasks and anticipate future needs by surfacing relevant data in a personal context. Cortana can facilitate interaction between two people. Cortana can transcribe a meeting and distribute minutes that can be searched by voice. Those who could not attend the meeting can find out what discussions took place on a specific topic they were interested in.

    Private Universities AI in maintenance of sophisticated machinery

    General Electric produces complex equipment such as jet engines, wind turbines and power turbines. These equipment are subject to preventive maintenance which means that the machines are opened up periodically to verify that their worn-out parts are replaced, and malfunctions are avoided. GE has created a vast database on aberrant and normal performance indicators for all these machines. The operating system is fed with data on indications of potential wear and tear of parts and symptoms that are likely to indicate malfunction. The Artificial Intelligence System is able to predict whether a malfunction is likely. Based on this prediction engineers are able to decide if the preventive maintenance routine is required or not. The application is able to avoid unnecessary downtime due to preventive maintenance routine not required and avert breakdown by interpreting the signals that predict malfunction. Maintenance crew have information on potential malfunction in real time, vastly improving response, reducing downtime, averting breakdown and reducing costs.

    Private Universities AI for Personalized Customer Experience

    Customising individual experiences is a coveted goal of any marketeer. Artificial Intelligence is able to discern customer preferences based on past purchases. The customer can be recognized from the phone number, computer IP Number or even by face recognition software. Starbucks uses AI to recognize customers from their phone numbers and baristas are able to make recommendations based on the past orders of the customers. The AI application sifts vast quantities of data and throws up a set of options. The human operator picks the recommendations that are likely to be best suited to the customer at that point of time.

    Private Universities Brand specific response of interactive AI devices

    Advanced AI devices are trained to display human emotions and communication styles. Some of the most commonly used AI applications are Microsoft’s Cortana, Apple’s Siri and Amazon’s Alexa. Each application is trained by humans to use language to interact with users which reflects the personality of their respective brands. Cortana comes across as caring and helpful, Siri comes across as just that bit irreverent and Alexa comes across as friendly.

    AI has the potential to transform every form of human endeavour dramatically.

    AI has not realized its potential. The possibilities it can create are not well appreciated and the vast majority of organisations are completely unaware of the role it can play in every form of human endeavour. What is needed is evangelists who will help disseminate knowledge of capabilities of AI and technology application professionals to build the bridge between prospective users and developers of AI applications.

    Authored By:

    Dr. Amit Bhadra,

    Vice Chancellor,

    Woxsen University



    • 17 June   2021

    Re-defining Value: A new approach to Innovation

    Innovation often starts with the product. Clayton Christiansen talked about disruptive and sustaining innovation. These are concerned with innovation centred around products and markets targeted. Some of the world’s most innovative companies such as 3M are introducing innovative products ensuring that a substantial part of their revenue comes from products introduced in the last 3-5 years. But there is another way to innovate. This may be called Cultural Innovation. Cultural Innovation does not focus on developing new features of a product or a new product itself. Cultural Innovation does not try to outdo competitors on existing notions of value. Cultural Innovation relies on changing perceptions of what constitutes value in the category by consumers. As competitors concentrate on introducing innovative features of the product consistent with what is considered important according conventional notions of value, Cultural Innovation redefines value and provides features and attributes consistent with the redefined notion of value.

    Private Universities

    Removing unnecessary bits/bytes of information reduces the file size. This type of compression is known as Lossy compression. In media files such as video, image and different audio formats, the final representation of the data may not be required to be the same as the source representation. MP3 and JPEG are the most common formats which use lossy compression. An example of an audio file where the complete information about the original audio is not represented is MP3 file. Instead, in an MP3 file, some of the unwanted sounds which humans can’t hear is removed. Similarly, in JPEG images non-critical parts of the image are removed. For instance, when we consider a picture with a blue sky, the compression of the JPEG image that takes place is such that only one or two shades are blue, instead of considering dozens of different shades in the image. Lossy compression is not suitable for files where all the information is critical or in other words files originality needs to be maintained.

    Ford Explorer

    Private Universities


    In the 1980s the average American family went for the minivan. It was spacious, comfortable. It afforded easy entry, easy egress, great storage. It was great for hauling the entire family, kids and their friends. It was ideal for weekend trips and for shopping. Moms loved them. Chrysler relied on its minivan to achieve great commercial success. The value paradigms were space, economy, convenience and comfort. There was however something that was missing. The minivan was too pragmatic and utilitarian. So much so that it was almost boring. It was something that homemakers used to run household routines like shopping and helping kids with commuting to school. Minivans from all brands were pretty much the same. All utility, no identity. And no premium-ness whatsoever.

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    People yearned for identity, projection of self-image, of being different. An unstated desire to dominate the road. A sense of freedom and power. And safety. People started to imagine a car as a way to project a swashbuckling image, a vehicle for on road and off-road adventures even if in reality it would be used mainly for traditional chores.

    The SUV seemed to be the answer. At that time the SUVs available were The Jeep Cherokee and Chevy Suburban. Both were rough vehicles which did not offer the comfort and amenities needed for a family vehicle. The other options available, the Ford Bronco and the Chevy S-10 Blazer were two door vehicles.

    Jeep had a great off road pedigree. It launched the Grand Cherokee. But it was beaten by the Ford Explorer. And the Grand Cherokee had a greater appeal among young singles than among affluent families.

    The Explorer created the image of an exciting family life filled with outings in the wilderness, travel to remote places filled with novelty and excitement, a far cry from a value proposition centred around pickup and drop for school children and trips to the grocery store. It also stopped short of the Cherokee’s proposition of macho high adventure excursions. The Explorer connected with the affluent family’s ideal of a family life filled with the excitement of frontier adventure.

    Private Universities


    The owners of the Explorer were using the vehicle in the same way as they did the minivan. For groceries and trips to the soccer practice club. But in their minds, they were living a life of adventure, exploration and excitement. They related to the images they saw in the advertisements, of frontier landscapes and adventure trips.

    People believed that the huge size and weight of the vehicle made them safe. The elevated driver seat made them feel more in control. Women loved the feeling of sitting on an elevated seat and the feeling of invincibility and power that went with it.

    Was the explorer a technological marvel? Hardly. Its technology was dated. Its acceleration was poor. Its centre of gravity was high and it cornered poorly. It was expensive to maintain relative to minivans. It was a gas guzzler. All this in fact added to the appeal of the car. It gave it a sense of premium-ness because it was expensive. It was typically an acquisition which the cost conscious family would avoid making! Ford had created an innovation based on a value paradigm very different from the value paradigm of the minivan- space, economy, convenience and comfort. The paradigm was adventure, excitement, power, and premium-ness. The product was in fact relatively ordinary in technological terms. Not a better mousetrap, certainly. But culturally a distinct and attractive one.


    Starbucks

    Private Universities


    College friends, Zev Siegel, Jerry Baldwin and Gordon Bowker decided to start a coffee business in 1973. They were mentored by Alfred Peet, the man who brought custom coffee roasting to the U.S. Starbucks’ initial focus was on bringing high-quality beans to consumers who are more accustomed to instant or canned coffee. Essentially the value paradigm was superior coffee. A better mousetrap, so to speak.

    Howard Schulz, who joined the company as Director of Marketing and later acquired the company changed that. Schultz changed the coffee stores into cafes serving coffee as a beverage. The surroundings were exotic. The interiors were like quaint Italian cafes. They had an old world charm. That was not all. Starbucks has managed to differentiate itself from competitors by creating the unique value proposition of becoming the “third place” for customers, after home and the workplace. Purchasing a cup of coffee became an “affordable luxury” and an experience in itself. Customers were able to order customized drinks and enjoy the beverage in a relaxed, upscale environment. Starbucks had transformed the value proposition of coffee businesses from Quality Coffee with many flavours to a personalised experience of a place which was neither home nor work, yet it was your own place. You could hang out with friends as long as you wanted to.



    Private Universities


    It was not as expensive as a private upscale club but afforded a similar experience. And the coffee could be customised. And it tasted great too! Starbucks elevated coffee drinking from a rather mundane experience to one filled with the novelty of traditional European surroundings, and the appeal of personalization and the opportunity to fraternize.



    Barnes and Noble
    Private Universities

    In 1971, Leonard Riggio acquired the Barnes & Noble trade name and flagship bookstore in Manhattan. Within a few years, he had grown the Barnes & Noble Fifth Avenue store in New York City into "The World’s Largest Bookstore. " Today, Barnes & Noble serves over 600 communities across the US and is the #1 book retailer in the United States.

    Barnes and Noble operates differently from most other bookstores in the United States. Each store is an integral part of the community, its contents, interiors and designs are different, reflecting local choices. If the coffee shops in the stores are counted as independent restaurants, Barnes and Noble has the largest coffee chain in the United States after Starbucks. Barnes and Noble hosts Storytime events for young children where authors interact with children and parents, creating interest in the books authored by them.

    The ‘Discover Great New Writers’ Program recognises literary excellence in all categories. Customers are encouraged to sit around, browse through books, chat up with shop assistants who were likely to be knowledgeable about the books in their section and generally experience the books without a pressure to make an immediate purchase. Barnes and Noble had redefined value. The traditional notion of value was offering the right titles at the right time and the right price. Barnes and Noble redefined value as relaxing in a literary environment, chatting up knowledgeable book lovers, enjoying a coffee in a soothing setting, introducing children to authors and the joy of reading, discovering literary talent and indulging in a form of entertainment book lovers yearned for. Barnes and Noble had succeeded in transforming what was seen as value.

    It is not our case here that Cultural Innovation is a substitute for product or service excellence. In order to succeed, companies practicing Cultural Innovation need to offer outstanding products. The product or service quality must be at par or superior to competitors. The Explorer, while not outstanding technologically, was a great product, Starbucks offers the highest quality coffee and Barnes and Noble offers the best assortment, location, convenience and price. But they did not compete on these features. They competed in a new space created by a distinct redefined value. The redefined value created a new playing field in which rivals have not yet started competing.

    Authored By:

    Dr. Amit Bhadra,

    Vice Chancellor,

    Woxsen University



    • 07 June   2021

    Save space on your laptop and in the cloud by compressing files

    In this 21st century most of us store data on the cloud. The cost of storing the data on the cloud is in terms of number of bits/bytes. Digital storage always comes at a premium, so it’s helpful to know how the files can be compressed into smaller packages.

    Reducing the amount of information within a file is known as Compression. Generally, we can split the file compression into two main types: lossless and lossy.

    Private Universities

    Removing unnecessary bits/bytes of information reduces the file size. This type of compression is known as Lossy compression. In media files such as video, image and different audio formats, the final representation of the data may not be required to be the same as the source representation. MP3 and JPEG are the most common formats which use lossy compression. An example of an audio file where the complete information about the original audio is not represented is MP3 file. Instead, in an MP3 file, some of the unwanted sounds which humans can’t hear is removed. Similarly, in JPEG images non-critical parts of the image are removed. For instance, when we consider a picture with a blue sky, the compression of the JPEG image that takes place is such that only one or two shades are blue, instead of considering dozens of different shades in the image. Lossy compression is not suitable for files where all the information is critical or in other words files originality needs to be maintained.


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    Fig 1: The images show the reduced sharpness when compared to an original image using lossy technique

    When we perfectly reconstruct from an original file by reducing the file size without causing any loss of information is called as Lossless Compression. Essentially, lossless compression removes redundant information which is not required. Contrary to lossy compression, it doesn't remove unwanted information from the file which is subjected to compression. The lossless compression algorithms basic principle is easy to grasp. Imagine a file made of 6 M’s in a row, which would look like this: “MMMMMM”. You could compress that to take up less space by replacing those six characters with something like “6M”. Formats such as MP3 and JPEG used lossless compression by default.


    Private Universities
    Fig 2: Images show how the number of blocks can be reduced by assigning a number to each colored block using lossless technique

    Generally, you should use lossy compression if you are okay with some information loss, which may not be exactly the same as the source file and lossless compression when you require a perfect reconstruction from the original file without any compromise on information loss. For Windows there is software called 7-Zip which is free and can be used for compressing different file formats and PeaZip is another free software which supports many different file formats for compression.

    Authored By:

    Amogh Deshmukh,

    Assistant Professor,

    School of Technology

    Woxsen University



    • 06 June   2021

    Experimentation as Opposed to Intuition, New paradigm in Business Decision Making

    Private Universities

    Companies are increasingly using experimentation to not just validate their decisions but to find new ways of working by giving a free rein to their employees to think of a new way of doing things and conduct experiments to validate their hypothesis. In these companies, it is no longer the prerogative of top management alone to think of improvements and conduct experiments to validate their hypothesis.

    The culture of experimentation is very evident in companies using digital interfaces and platforms to engage customers, since the firsthand contact between customers and company personnel is absent and the only way to gauge customer response is through experimentation.


    The companies which are leading this style of working are digital platform corporations Microsoft, Google, Facebook, Amazon, Bookings.com and Expedia.

    When we perfectly reconstruct from an original file by reducing the file size without causing any loss of information is called as Lossless Compression. Essentially, lossless compression removes redundant information which is not required. Contrary to lossy compression, it doesn't remove unwanted information from the file which is subjected to compression. The lossless compression algorithms basic principle is easy to grasp. Imagine a file made of 6 M’s in a row, which would look like this: “MMMMMM”. You could compress that to take up less space by replacing those six characters with something like “6M”. Formats such as MP3 and JPEG used lossless compression by default.

    Generally, you should use lossy compression if you are okay with some information loss, which may not be exactly the same as the source file and lossless compression when you require a perfect reconstruction from the original file without any compromise on information loss. For Windows there is software called 7-Zip which is free and can be used for compressing different file formats and PeaZip is another free software which supports many different file formats for compression.

    So strong is the culture of decision making by experimentation that senior executives are no longer expected to make decisions not supported by experimentation. In these companies thousands of decisions are made every day by people across the organization at different levels. The companies in the lead of this culture permit their employees to conduct research with very little authorization. They believe that the need to receive validation would itself curb the zeal to experiment. Expedia and Bookings.com conduct hundreds of concurrent experiments at any point of time. Even companies which are not strictly online platforms such as FedEx and H&M have embraced online testing.

    One of the companies which has raised experimentation to the level of a cult is Bookings.com, the largest Online Travel Agency in the world. Bookings.com permits almost anybody to run an experiment on its portal. Experiments could range from changing the price offer to test price sensitivity to changing the colour of the background to test consumer response. It could be the language used to instill a sense of urgency (rush… last 3 rooms left!) or the size of the cross to be clicked to close a popup.

    This form of testing is called A/B Testing, meaning that it tests response of one option ‘A’ over another, ‘B’. In this process the experimenter changes just one aspect of the website and makes a comparison with the previous version under standard conditions, when all other conditions remain unchanged. Most hotels would like an Online Travel Agency to perform the tests because the customer traffic on an OTA is much higher than the traffic on the hotel’s website. The much larger sample size makes the validity of the test results mush higher.

    The features of the hotel that need to be tested and are likely to have the most impact on bookings are the tariff and images of the hotel. Expedia found that a room with a nice view makes a big difference. Great exterior pictures make the hotel attractive. Perks and extras like breakfast, conference facility and transport are features that are tested. When to pay, now or after seeing the property can be a great inducement to book. This is similar to the return policy of an online retailer. It inspires confidence, on the other hand permits last minute rejection and consequent loss of revenue.

    In one instance of testing, Bookings.com listed the same property under two different tariffs to see which tariff received more bookings, in short, how price sensitive was the offering. The OTA could gain enormously from the knowledge derived from such experiments. They could guide hotels they wish to favour in order to achieve maximum bookings. Online retailers also experiment. Amazon found that while selling a game Air Patriots where the players defend a structure against air bourne attackers, the retention rate dropped by 70% and revenues fell 30% when the difficulty level of the game went up by 10%. Amazon responded to reverse the difficulty level which partially corrected to consumer response.

    There are ethical considerations in conducting experiments.

    Facebook ran a test involving 690,000 users to test whether emotional states were contagious. Did reading fewer positive news stories cause people to make fewer positive posts. Did fewer negative stories lead to fewer negative posts? The social media platform created an algorithm which posted positive and negative stories to a test group of 300,000 users and compared it with a control group of 300,000 users not subject to such tests. The test came under criticism because it amounted to manipulation of emotions of people.

    LinkedIn has a policy of not conducting experiments that would deliver a negative user experience or have a goal of altering the member’s emotional state. All consumer tests studying human behavior are to some extent manipulative in nature. Experimenters need to know where they must draw the line.

    Authored By:

    Dr. Amit Bhadra,

    Vice Chancellor,

    Woxsen University



    • 31st May   2021

    FOLK ART TRADITIONS OF INDIA

    Folk art of India is belonged to very ancient and passed from one generation to another. Still, these ancient art forms practicing in various places in India. They became a part of Indian tradition and culture. During the period of Indian art, many art forms were advanced and some vanished. However, the ancient folk art forms modified in colors and styles and still surviving in the society with their unique structure. The artists adopted the themes from epics, god and goddesses. In olden days the artists used natural colors, mud, charcoal and leaves. They painted on canvas and cloth to bring the antiquity to the art.

    Let us see the brief description of some of Folk art traditions of India.

    Madhubani Paintings

    Private Universities

    Madhubani is one of folk art traditions of Mithila region presently situated in the state of Bihar. It is believed that Mithila Kingdome ruled by King Janaka father of Sita. Mostly women practiced this art in Mithila region. This art form is mostly decorated on the walls of the huts. Most of the art forms are in Mural shape with subject of flora and fauna and God figures. The painting is traditionally done by hand on a plastered wall or on a mud wall but now the commercial demand is bringing the paintings to paper and clothes.

    Phad Art

    Private Universities


    This is the traditional Art of Rajasthan. Phad artists paint the religious forms of folk deities Pabujai and devnarayan. These paintings are in large size and used fifteen high canvas or cloth. The artists used the natural vegetable colors and characterized the heroic deeds of deities.



    Warli Art

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    Warli art is the tribal of Maharashtra where it is practiced today. Warli art is the finest tradition of Indian folk art. Warli artist use their clay huts as the back drop for their paintings. These artists use basic geometric shapes of circle, triangle and a square. Warli art paintings painted on the concept of Mother Nature and elements of nature as their focal point.

    In these ritual paintings festivals and dances are depicted as common scenes. The Warli paintings painted with mixture of rice flour, water and gum on the red ochre back ground. But now these paintings not painted on ritual purpose but because of artistic pursuit. Presently Warli paintings moved on to paint on paper and cloth also.



    Kalamkari Art

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    Kalamkari Art traditione is practiced in Machiliptnam and Srikalahasthi in the state of Andhra Pradesh. Kalamkari is a Persian word kalam means pen and kari means craftsmanship. The colors prepared naturally with leaves, vegetables and other natural sources. The artist used one type of pen to bring unique pictures.

    Block printing style followed by artists in Machilipatnam and artists from Srikalahasthi are following the art drwing with pen on fabric. The art objects are flora and fauna. In Srikalahasthi, the artists adopt the themes from epic events.



    Tanjore Paintings

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    The Thanjavur Nayakas of Tamilnadu patronaged to flourish the Tanjore art form. The painting made on wooden planks depicts devotion Gods and Goddesses. The art from is the combination of Maratha, Deccan and European styles.



    Kalighat Paintings

    Private Universities


    This painting style was originated in the 19th century at Kalighat West Bengal. At first the artists adopted the themes from Hindu Epics. Later the artists concentrated on social reform subjects. They use the squirrel hair brushes to apply the colors. The artists used cheap paper and color pigments. The purpose of the paintings is to raise the awareness about the social conditions.



    Authored By:

    Murali V Kesaboina,

    Assistant Professor,

    School of Arts & Design

    Woxsen University



    • 20th May   2021

    Mixed Reality Goggles for Soldiers

    Private Universities


    A human eye cannot perceive things beyond a certain point. It needs the help of gadgets to see invisible things. With the invention of Virtual Reality (VR), a human eye could interact with the virtual world. Then came Augmented Reality (AR), where a person could see virtual elements floating around in the real world. Now that the virtual elements were added to the real world, humans wanted to interact with the virtual elements in real time. Hence, came the invention of Mixed Reality (MR), which combines both VR and AR for a more immersive experience with the digital elements in the real world.

    Microsoft has won a contract from the US Army requiring 120,000 mixed reality headsets which are worth $22 billion over the next 10 years. In military use, this headset is known as Integrated Visual Augmentation System (IVAS). It consists of many sensors, a wide lens and a computer. It also has an internal display to share, produce and enhance the information for the soldier who is wearing it.

    Private Universities

    The IVAS provides tactical edge on the ground during the war. It has a digital night vision which gives a better field of view of the enemy at night. IVAS can be used for fighting adversaries and acquiring the targets during the day and night. It has a digital thermal low-light night vision capability. It consists of Artificial Intelligence features, such as facial recognition and textual translations in real time.

    Private Universities

    IVAS provides land navigation during the war to identify various check points. There is no need to move your eyes away from the battle field. IVAS provides synthetic training environments, which can be used to build training scenarios with 3D holographic enemy to train the soldiers who can talk with each other, hide from the enemy, and fight in a virtual scenario. Soldiers and leaders can conduct after-action reviews using 3D holographic images, terrain and playback for rehearsing and training for the real battle. IVAS provides inter soldier wireless connectivity, ability to pass real time data among squads, platoons and company formations. Soldiers can share images of all the objectives of the mission on the battle field in real time and categorize them as finished or pending. IVAS uses soldier borne sensors for planning and rehearsing the objectives of the mission using 3D holographic images in real time.

    Private Universities       One of important features of IVAS is the ability to see “through” the closed vehicles. This is done by external cameras used for recording and are shared with the soldier’s headsets. When traveling and dismounting from the vehicle, troops riding inside the armored vehicles will be more aware and have a better sense of their surroundings. As the soldiers patrol the borders on foot and are in enemy zones, they can see recorded video from cameras on the other side of an armored vehicle. The signal needs to remain strong to receive the footage.

    Through a lot of soldier’s feedbacks and building more than 28 prototypes over the past couple of years, the IVAS has been improved over time. Waveguide technology has been used to enhance the capability of the soldier on the battle field.

    Private Universities

    In this digital world, IVAS provides advanced capabilities to soldiers for future war threats or any adversaries. IVAS provides soldiers the ability to move quickly and safely, improves situational awareness of every soldier on the battlefield, provides virtual training battles and improves survivability. It makes a soldier smarter, better informed, more agile and lethal. It will save lives on the battlefield. It is a really exciting invention which has turned into a reality and makes the battlefield safer and more immersive.

    Authored By:

    Amogh Deshmukh

    Assistant Professor

    School of Technology



    • 3rd May   2021

    Management Skills to succeed in 2021

    Private Universities

    2020 will be a year that we would all like to forget in a hurry. Corona Virus, Social Distancing, Lockdowns, Work-From-Home, Sanitizers and Masks dominated our life throughout the year. This was perhaps one of the biggest challenges that humankind faced in last hundred years, and most of us were ill prepared for the same. The Covid-19 Pandemic has already killed close to nineteen lakh people across the globe. The economic losses are pegged at $13 trillion and many industries are yet to come back into full scale business.

    Yet we survived. Of course, this was through readjustments, reorganization and reworking of the business strategies. Business transactions moved online and employees started working from home. The dependence on internet and technology has increased to large extent. People who were not tech-savvy found themselves out of work. On the other hand, people who quickly adapted and aligned themselves with technological processes survived and moved ahead despite the crisis.

    This brings us to the moot-point of the management skills that will be in much demand during the year of 2021. Here, we are highlighting five key factors that are considered to be must haves for the managers working in different industries:

    1.  Learning Agility:

    We currently live in the VUCA World. VUCA stands for volatility, uncertainty, complexity and ambiguity. With different strains of virus and airborne diseases making attacks on all fronts, we would need to change business models and business processes quite often. So, it is not only important for business managers that they upgrade themselves and learn new skills, it is also equally important that they learn the skills pretty fast. And the managers who are agile and can learn and adopt fast to changing scenario are the ones who will survive and succeed in the long run.

    2.  Flexibility:

    The Covid-19 Crisis forced us to reorganize ourselves and many employees had to do Work-From-Home (WFH). This meant working at odd hours, working on weekends and managing family issues along with work related challenges. Employees who have been flexible and adaptive have been able to workout a perfect balance and deliver high degree of productivity vis-à-vis the ones who could not adapt. Flexibility will be a key skill that will be in high demand in 2021 also.

    3.  Data Driven Decision Making

    We have already entered the era of big data. Big Data is characterized by high volume, high velocity and high variety of data that is being produced and is accessible to us. We are currently producing 2.5 quintillion bytes of data every day. Quintillion has got eighteen zeros. And we need skills to sort, tabulate and analyse this huge quantum of data to draw out incisive inferences. For that we need skills of using software and tools like SPSS, SAS, R, Python, Cognos and Watson. Decision making in the corporate world has moved over from smart guesswork to being based on data analysis.

    4.  Knowledge of Technology

    Artificial Intelligence, Machine Learning and IoT (Internet-of-Things) are no more buzzwords. We are living in an era where machines are becoming smart through application of high end technology and repetitive work are being efficiently handled by bots, drones, robots and humanoids. To make ourselves employable, a deep understanding of the application of technology is more an option, but a compulsion. AI, ML and Big Data are no more an exclusive domain of the Computer Engineer, but also the tech savvy Manager.

    5.  Design Thinking

    The workplace, work process and work execution has undergone a sea change with the introduction of design thinking. Design thinking is a human-centred approach to innovation, anchored in understanding customer's needs, rapid prototyping, and generating creative ideas that is transforming the way companies are developing products, services, processes, and organizations. Companies like Nordstorm, Bank of America, Starbucks, Nike and GE Healthcare have already adopted the design thinking process and others are fast adopting it. The future manager needs to understand design thinking as well as apply the principles of design thinking in practical work.

    2021 has come with a silver lining among the dark clouds as the healthcare companies like Pfizer and Astra Zeneca have announced that they are ready with the vaccine to protect against the Covid-19 infection. However, we must understand that the World has changed and we have to move on and apply advanced skills if we want to sustain ourselves and the organization. And the people and organizations that adapt faster will be the winner in the long run.

    Authored By:

    Jayanta Chakraborti

    Associate Professor at Woxsen University



    • 9th April   2021

    Social Media: Another Market to Bring in Cash!


    Private Universities

    We know the only spot that today everybody is being associated with each other is online media. Furthermore, users have got an excessive dependency on online media. The normal time spent by a grown-up via online media is around 3 to 4 hours.

    Online media is additionally an incredible source. Like, Facebook, Instagram, WhatsApp, YouTube, Twitter, and so forth bring in cash by streaming commercials and by additionally sharing data of the client to the various advertisers. Online media applications are information gatherers of the individual customers who are inclined to customer’s taste, inclinations, propensities, and so forth. An advertiser brings in cash like this, however even an average person additionally begins bringing in cash via web-based media. This is the basic pattern followed by numerous individuals where they began utilizing web-based media for bringing in cash.

    Social Media influencers: they are such individuals who influence the choices of consumers for different products or services while maintaining relationships with the consumers. We can discover numerous influencers on online media platforms that give surveys or educate about products/ services or even share information related to a specific topic that a person is trying to know, and these influencers try to connect to their audiences with the help of their content and expect that people will follow and return again and again if such/ related information is shared with them.

    They are different types of influencers in social media based on the content they work:

    YouTubers
    Youtubers are the influencers who work on making videos for different topics relating to the channel they stream. YouTubers share their view on the topic of their choice/ideas through videos.

    Bloggers
    These are the content writers who try to share their idea and information through blogs or websites. We can assume that bloggers are one of the main influencers in the market these days who spend a lot of time analyzing certain issues/ concerns that interest a larger population and give a review about the same to their audience.

    Podcasters
    This is a newly introduced platform where the content is shared in the form of digital audio. Here, many discussions are made on various topics that can be related to0 current/ trending topics, and historical topics.

    These influencers are paid based on the platform in social media they are involved with, the well-known ways of earning by influencers are:

    • Advertising

    • Going about as brand delegates or diplomats

    • Selling merchandise

    • Associate marketing

    • Supported posts/pictures/recordings and brand crusades.

    These are just some of the many ways you can make money with social media; there are plenty of other money-making websites. It is important to remember that making money on social media isn't necessarily easy. If you have an entrepreneurial spirit and are willing to work hard, test, and experiment, your chances of success will be far greater than the chances of those who just want to "give it a try".

    Authored By:

    Minapa Babi Pradeep Kumar BBA - Semester - 2 (2020 - 2024 Batch)

    Under Supervision of - Dr. Aditi Dang

    Assistant Professor, Woxsen School of Business, Woxsen University



    • 6th April   2021

    Transition to Virtual Learning: Challenges and Way Forward!


    Private Universities

    A person’s growth is, to a certain extent conditioned by the environment that the person lives in. It is also conditioned by the kind of fight that person has with the environment.
    - K. G. Subramanyan, ‘The magic of making’

    Since the month of January 2020, we have seen drastic shifts in many areas of our daily life due to the pandemic wherein several alternative plans of resilience and acclimatization emerged. In the wake of such an unprecedented event, the methodology of my academic practice was transformed entirely and the approach to pedagogy and education shifted to an experimental as well as explorative dynamic. Whatever happened in real studio spaces shifted to virtual classrooms, computer screens, and isolated rooms. Google meet, zoom, and concept board-formed our gathering spaces. As a collective team effort, students and teachers ensured that the teaching-learning process is unhindered while adapting to suit this new technology that became an integral part of our daily lives. Regardless, we were aware that the experience of knowledge-sharing in real spaces is irreplaceable without dispute.

    The pandemic persuaded us to realize how real human interactions influence students better, even more than that of any academic bubble. At the end of January, the foundation batch of the design department reached the campus to recommence face-to-face classes. After their quarantine, collectively, we conceived a plan to curate an exhibition with the semester's online learning outcomes. Needless to say, every member of the batch contributed immensely with their creative, physical, and imaginative spirit into making it happen in a very short time frame. From planning to execution, printing to framing, selection to composition, and procurements to space design, the students explored the diverse layers of curation. It was an intense learning and knowledge-sharing experience, and I must also say, a beautiful beginning to their academic journey in an active learning environment. It was also a collective fight against this challenging time where our learning experiences are affected by the pandemic, yet we strive to survive and grow despite the hurdles we must confront in the process.

    As KG Subramanyan’s quote rightly states; our growth is often conditioned by our environment, a term that may have several manifestations. In this pandemic, we have witnessed the expansion of the meaning of environment; be it real and virtual environments, academic and non-academic environments, professional and personal environment, social and cultural environment, and numerous others of which still in the process of expansion. What we as social beings must comprehend is the fight we are and must have with our individualistic environments, for the betterment of ourselves as well as society. A humanitarian, collaborative, creative, and critical perspective to education can add strength to the battle with these challenging times. I hope the students and faculty can engage in many more meaningful collaborative and creative projects to grow together with a holistic perception.

    Reference:

    • Quote from: The documentary, The Magic of Making " K. G. Subramanyam "
      by Gautam Ghose


    Authored By:

    Alaka Kavallur

    Assistant Professor

    Department of Design, Woxsen University.



    • 30th March   2021

    Biophilic design: A psychological connect


    Private Universities

    “I started walking on a rigid pavement – My limbs are twinging every footstep, and then I reached a loam surface, I removed my shoes continued a short while. This one was a completely different experience I now felt the doormat foliose puffs. I felt the massage of soil and grass on my feet. My mind pulled away, I was in deep thoughts and walking slowly.

    Since the beginning of the time humans have been living with and evolving with nature. In fact, being surrounded by nature is in our DNA. As a designer we must design a space to connect with nature. I could say we should design a space by incorporating biophilic design in it. Scientists discovered genetic links that illustrate how humans have adopted their biological response mechanism to natural environment.

    In 2017, researchers H. Ikei, Y. Miyazaki, and C. Song found that merely touching untreated, naturally dried wood had advantages for the human brain. In experiments involving untreated wood versus treated (painted, coated, varnished) they determined on the participants - reduced brain activity, lower rate, reduced sympathetic nerve activity, and exaggerated parasympathetic nerve activity once touching untreated or natural wood. The participants touched the wood for ninety seconds, they found the aroma, naturally dried wood calms the brain and relaxes the body.

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    In 2019, Michael David Burard and Andreja Kutnar, found that beneath bound conditions, victimisation wood within the engineered indoor setting might cause improved stress responses. as an example, M. D. BURNARD AND A. KUTNAR responses indicated by secretion corticosteroid levels were lower at setting with oak piece of furniture than within the corresponding management setting. The reduced reaction to stress incorporates a tiny impact for any single nerve-racking state of affairs, but, over time, even tiny reductions to stress responses will contribute to improved mental and physical health outcomes, that successively cause improved social outcomes (McEwen, 1998).

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    Cities were built by the industry and for the industry. Vast new tracts of monotonous, industrially produced concrete jungle. Since the physical space affects us so deeply, it was not surprising to see how the imposed monotony even affected the way people carried themselves physically.

    There are scientifically accepted principles of biophilia – the presence of wood and view of nature, risk and peril, volatility is a sensation that reminds us we are humans, presence of water, curved organic forms and materiality.

    Private Universities

    Private Universities

    Currently we tend to face an environmental condition and health emergency. Environmental degradation continues the chances related to increasing world population. Biophilic design is a way to push healing for the surroundings, for our town filled with busy individuals and for our own personal selves.

    References:



    Authored By:

    CH Shiva Kumar

    Assistant Professor

    School of arts and design, Woxsen University.



    • 23rd March   2021

    Under Graduates from School of Business, Woxsen University Shine at the International Business Plan Competition 2020


    Private Universities

    The students pursuing Bachelor of Business Administration (BBA) at School of Business, Woxsen University, Hyderabad had the honor of representing India at the “International Business Plan Competition 2020”, held from 16-20th November 2020. Solbridge – International School of Business, South Korea in collaboration with Samsung, organized this worldwide competition in virtual mode, where students were given a real-world scenario of Samsung and expected to develop in-depth analysis / recommendation for a specific product or service of the company under given circumstances.

    The competition comprised of two rounds, a) preparing an introductory video of the student team and b) Case delivery (presenting a business proposal of a case).

    School of Business, Woxsen University was among 24 universities participating from across the globe and was chosen to represent India. Team Woxsen’s introductory video not only garnered over 3000 views on various social media platforms, but also awarded with the Most Viewed Video title. After the first round, out of 24 teams, Woxsen University was amongst the final 8 teams, eligible for winning the competition. Second, a case was allotted on the topic of voice-enabled systems for which the students were given 48 hours to prepare a detailed business report. Students of Woxsen designed a business model on the idea “Voice assistance enabled passenger management in Airports.” Students of Woxsen University won the competition wherein they received recognition for the Most Innovative Business Idea

    The participating team was further felicitated at their alma mater with a certificate of appreciation by the Dean, School of Business, Woxsen University, for their win at the coveted International Business Plan Competition 2020.

    Contact:

    Dr. Raul Rodriguez

    Dean School of Business,

    dean.sb@woxsen.edu.in





    • 18th March   2021

    Artificial Intelligence and Machine Learning in Marketing


    Private Universities

    Artificial intelligence (AI), the face of today's marketers has been created with an aim to make technology that could mimic human intelligence but what AI is doing is far more than required. It is indeed taking big data analytics much more than human ability can do from self-driving cars to the automated supply chain. AI has been doing everything for us. For marketers, AI and Machine Learning (ML) have been like superpowers to grow their audience and market themselves. They are using these techniques to reach their customers in every single way they could i.e., Business to Business (B2B) or Business to Customers (B2C).

    Machine Learning had vastly changed the markets by focusing on different types of marketing through which the marketers have benefited with phenomenal results for all sizes and categories of business.

    Some of the trends are discussed below as:

    Social tuning in

    Today’s customer wants to be known and understood well by the brands/ marketers. Today’s digital marketing is all about personalization. Social listening allows marketers to know their customers well. This gives the marketers the sense of knowledge about their customers without spending hours of time and manpower. Like I said, ‘AI is a Superpower’.

    Contender examination

    At this point an email showcasing is waste of time as its computerized era. AI and Machine Learning are instruments that are present in the Marketer’s control. We frequently see a lot of texts, calls, emails about brand promotion, and that is done by using AI. Every customer has an individual choice and personal preference for when, where and what they want to buy and this is crucial in today’s market.

    Content creation

    Writers take a lot of stress to write a little but whereas AI does that easily. For example, if you text your problem or experience some issue on the company website, AI instantly replies to the message and ensures customers' satisfaction. This saves the marketing team time easily as well as enhanced experience for customers.

    Mistakes

    Mistakes can cost marketers. Mistakes are certain when human effort is involved. AI and Machine Learning are the best solutions for analyzing the market with zero mistakes. AI helps in detecting the mistakes/errors and they correct them and make sure that the data is perfect and accurate.

    Promotion

    Once upon a time, marketers used to pay for advertising their brands through pamphlets or billboards and very few people used to see that advertisements. But when AI and Machine learning came into the market, they ensured the needs of the people and which helps to know which type of social posts will help them to boost their brand. These are not just reducing the money but also making the marketing strategy efficient. Today’s marketers are using AI and Machine Learning and could collect better customer insights while tracing their customers regularly. The biggest challenge for today’s companies is now to focus on the personalization and customization for their customer’s requirements which is even the biggest quality people love in brands.

    The greatest organizations of era are utilizing AI and Machine Learning for fulfilling customer’s requirements and some of the organizations utilizing are as follows:

    • Amazon utilizes AI and ML for its online store.

    • Netflix utilizes the predictive analysis tool for better content categorization.

    • Google, for website ranking.

    • Yelp, for image processing.

    • Pinterest utilizes them for its suggestion algorithm and content detection for a better client experience.

    • IBM AI (Watson) was extensively used in better recommendations for cancer treatment in many healthcare organizations in the USA and many other countries.

    • Salesforce utilizes its Einstein Machine Learning Technology for scoring and lead prediction purposes in digital marketing.

    • Virgin Mobile uses Amperlo AI-based Marketing platform for client satisfaction and optimization of customer interactions.

    • Walmart uses Machine Learning based software for anticipating customer needs and providing suitable solutions/ recommendations to them.

    • The eventual fate of marketing is AI and Machine Learning. The biggest corporates of all time are now using them, and MSME organizations have also started using these tools to expand their business and gain power in the domain of marketing.

    Authored By:

    Bhuvan Sathwik and Dheeraj

    BBA - Semester - 2 (2020 - 2024 Batch)

    Under Supervision of - Dr. Aditi Dang

    Assistant Professor, Woxsen School of Business, Woxsen University





    • 12th March   2021

    Artificial Intelligence in Financial Markets and Risk Management


    Private Universities

    Financial analysis, Portfolio Management and Investment advisory services need figures like ‘Beta’ and ‘Standard Deviation’ which reflect the risk of a particular stock. Mammoth institutional investors and big retail investors maintain highly diversified portfolios that reduce the overall risk of portfolio. This requires studying different past patterns of several stocks, their combinations and proportions in the portfolio to come up with an optimum portfolio. The more combinations we can see, the more optimum solution we can come up with.

    Today AI has come up with the complex algorithms and software that are made of concepts of statistics like Distribution function, Correlation and Regression Analysis and Value-at-Risk (VAR) etc. These software blend these concepts with the concepts of multivariable constrained optimization techniques which are completely packed with partial derivatives, Lagrange Multipliers etc. The software that runs with the blend of all this mathematical logic will enable the user in prediction of movement, trend analysis and helps to come up with the optimized portfolio option. It also suggests the real time movements and gives an alarm whenever there is a need to change the composition of portfolio.

    The user will have all the information on the screen. This real time updates are made possible through machine learning process involving deep learning neural networking which makes the system able to do the deductive reasoning, inference and decision making far better than humans. The machines learn and behave accordingly that reduces the error rate gradually.

    Financial markets will become more volatile. The more efficient the software, the more it suggests accurately the fair price of the stock by reflecting all the information. This rapidly changes the pattern of holdings and orders are automatically placed with the broker.

    These software also have link with the international markets and stock market news to give the real time information about the global news, currency and commodities prices which will enable the user to make quicker decisions.

    The latest list of software include software created by Vestserve serving portfolio management needs, hedging needs etc., Riskalyze. Companies like Institutional Capital Network, Inc. has become one of the world top based investment advisory firms that is heavily dependent on these software which enabled them to grab a large client base.

    Heavy investments are being made in the companies which are into the fintech services because of its scope for growth in the future. The financially naive can also go for trading in stocks with the help of suggestions given by this.

    According to sources1, global fintech market is going to reach about $300 billion by 2025. This is due to the high investment in technology based solutions by banks and firms. The key fintech players would be Robinhood, Atom Bank, Microsoft etc.

    Private Universities

    Source :

    https://www.forbes.com/sites/louiscolumbus/2018/01/12/10-charts-that-will-change-your-perspective-on-artificial-intelligences-growth/#7b284d6f4758

    Artificial intelligence and Machine learning changing the financial services industry?

    Artificial intelligence (AI) has become consolidate into our everyday lives. We can see it’s Power in our social media newsfeeds, activates facial recognition (to unlock our smartphones), and even suggests music for us to listen to. Example: Alexa, Google assistance

    Machine learning, a subdivision of AI, is progressively consolidate into our everyday and changing how we live and make decisions.

    Machine learning in finance
    Business changes every minute, but more advancement in today’s technologies have accelerated the pace of changes. ML analyses historical data and it’s behaviours to predict patterns and make decisions. It has proved hugely successful in retail for its ability to custom products and services to customers. ML is also distort the insurance sector. Such as more connected devices provide deeper perception into customer behaviours, insurers are able to put premiums and make pay out decisions based on data.

    Customer-Focused
    AI and ML have acquire popularity in the financing industry over the last few years. Large amounts of client data are federal into the AI and ML algorithms to evaluate credit quality and price loan contracts. This are some of the customer-focused uses of AI and ML in the financial sector:

    Credit evaluation and Scoring
    ML tools intend for credit scoring speed up lending decisions and limit increase risk. Firms now depend on data not generally in their credit reports to perform credit quality analysis. Individual, unstructured, lenders have turned to additional, and semi-structured data sources such as social media activities to capture a subtlety view of creditworthiness. By applying ML algorithms to this group of new data qualify assessment of qualitative factors such as consumption behaviour, and even willingness to pay .

    Aside from, the use of ML algorithms in credit scoring has led to greater access to credit. Traditional credit scoring models need a potential borrower to have a enough amount of historical credit information to be considered scorable. Without this details, the model could not initiate a score leaving out possibly creditworthy borrowers without any means to build a credit history.

    Appraise Insurance Policies
    ML is used in the insurance industry to evaluate complex data, thus lowering cost and improve profitability.

    AI and ML applications provide development/upgrade/improvement to the approve process and thus assist agents in categorize through big datasets that insurance companies have collected to identify and separate cases that cause a higher risk, potentially reducing claims.

    Furthermore, insurance companies can use ML to improve the marketing of insurance products through the incorporation of real-time highly granular data, such as online shopping behaviour and telematics or pricing . Therefore, correct pricing of insurance could outstandingly change the insurance market as well as upgrade/enhance claims processing

    Chatbots They virtual assistants and they help customers complete transactions and solve easy problems. Automated programs use neuro-linguistic programming (NLP) to interconnect with clients either by text or voice. Chatbots are mostly used by financial firms in their mobile apps or social media. It provide answers to simple customer queries regarding the account balance, list of transactions etc. Better communications with customers and Cost savings can both increase profitability

    Financial services are setting foot in the AI field and at varying stages of integrate it into their long-term organizational strategies.

    Many companies have already started implementing intelligent solutions such as advanced analytics, process automation, robo advisors, and self-learning programs. But a lot more is yet to come as technologies evolve, democratize, and are put to innovative uses.

    Embed AI in strategic plans: Integrating artificial intelligence (AI) into an organization’s strategic objectives has helped many frontrunners develop an enterprise wide strategy for AI that various business segments can follow. The greater strategic importance accorded to AI is also leading to a higher level of investment by these leaders.

    Apply AI to revenue and customer engagement opportunities: Most frontrunners have started exploring the use of AI for various revenue enhancements and client experience initiatives and have applied metrics to track their progress.

    AI IN CREDIT RISK ANALYSIS

    A recent study found 77% of consumers preferred paying with a debit or credit card compared to only 12% who favoured cash2.

    Having good credit aids in receiving favourable financing options for any appliances, Clothes, offers over the market, landing jobs and renting an apartment, to name a few examples. Today is credit card’s empire. Even business people are linking many offers with the credit card payments which is making the use of credit card inevitable. Therefore, credit appraisal has become one of the most cardinal tasks of banks and financial institutions.

    Artificial intelligence solutions are helping banks and credit lenders make smarter underwriting decisions by utilizing a variety of factors that more accurately assess traditionally underserved borrowers, like millennials, in the credit decision making process.

    QUANTITATIVE TRADING

    Quantitative trading is the process of using large data sets to identify patterns that can be used to make strategic trades. Artificial intelligence is especially useful in this type of trading.

    AI-powered computers can analyse large, complex data sets faster and more efficiently than humans. The resulting algorithmic trading processes automate trades and save valuable time.

    PERSONALIZED BANKING

    Traditional banking isn't cutting it with today's digital savvy consumers. A study conducted by Accenture on 33,000 banking customers gave results which show that about 54% want aid to help them to plan their budget and make real-time spending adjustments2. Besides, 41% are "very willing" to depend on the advice and help by computer banking 2.

    Private Universities

    Source :

    https://www.businessinsider.in/finance/news/the-impact-of-artificial-intelligence-in-the-banking-sector-how-ai-is-being-used-in-2020/articleshow/72860899.cms

    CYBERSECURITY & FRAUD DETECTION

    Numerous transactions will happen over a day because of money movements from one account to the other, online trading platforms etc. which are needed to be regulated properly failing which will lead to unfathomable frauds and incorrigible effects.

    It has become necessary for banks and Financial institutions to pull up their socks for implementing cybersecurity and fraud detection efforts. Artificial intelligence is playing a key role in improving the security of online finance.

    Predicting cash movements and taking initiative of advising customers on their pattern of expenditure. The ML helps in identifying suspicious movements in cash and there by assists in preventing the fraudulent transactions like in Money Laundering.

    Sources :

    https://www.crowdfundinsider.com/2020/06/162997-global-fintech-market-is-projected-to-reach-300-billion-market-cap-by-2025-due-to-large-investments-in-new-tech-and- infrastructure-report/

    https://builtin.com/artificial-intelligence/ai-finance-banking-applications-companies

    Authored By:

    Prof. Syed Hasan

    Associate Professor

    School of Business, Woxsen University





    • 5th March   2021

    BIOPHILIC DESIGN


    Private Universities

    "Biophilic Design" is a concept in which we improve and enhance our interaction with nature in a built environment. Every interaction we have with nature - let it be going to the beach to swim in the waters or a hike on a lush green mountain, it makes us feel relaxed and content. All thishappens because of our close relation with nature ever since we were created. Over the past 200 to 300 years, we have been distancing ourselves from nature in many ways. First it was the television and then came the video games & the internet which shifted the entertainment sector completely indoors, away from nature and natural habitat. Since our natural habitat has becomethe built environment, the main and most important role of biophilic design is to create a good natural habitat for us humans in forms of a building, a garden or even a community. Just because a space has nature or a plant does not make it biophilic. It has to help our health and productivity in a space while keeping us fit and strong. So for example a desert or a deep sea habit at does not count as biophilic as it doest have a sustainable effect on us. In a built environment aspects like greenery, water, light and air help improve our mental, physical and emotional health along with increasing productivity and mood.

    Greenery: Plants are living and breathing organisms which help increase creativity, and performance in spaces like an office.

    Natural Light: Not only cost efficient, it also is found in abundance while also being renewable. It makes you feel alive and helps cure various ailments.

    Water Elements: Let it be the soothing sound of the water flowing or even looking at sparkling blue waterfalls, it makes us feel relaxed and calm. An indoor water element goes a long way while designing. Other than such direct interactions with nature, even indirect interactions make a difference. Images of Nature, Natural Materials, Natural Colors, Mobility and Wayfinding, Cultural and Ecological Attachment to place, Simulating Natural Light and Air, Naturalistic Shapes and Forms, Evoking Nature, Natural Geometries, Biomimicry go a long way as a replacement. Designers can play a huge role in considering biophilic design in every shape that we design tonot only increase aesthetics and looks but also helps improve various health aspects in a space toenhance a occupants living experience.

    Private Universities

    References :

    https://www.rnetropolismag.com/architecture/what-is-and-is-not-biophilic-design/
    https://www.bdcnetwork.com/blog/biophilic-design-what-it-why-it-matters-and-how-do-we-use-it
    https://en.wikipedia.org/wiki/Biophilic_design#:-:text=Biophili0/020design%20is%20a%20concept,and°/020space/020and°/020place/020conditions.

    Authored By:

    Riya Konda

    Woxsen University





    • 27th February   2021

    Top 4 Emerging Technologies!


    As the world is progressing towards post covid situations, the rise and the need of emerging technologies have gained much more attention than ever. Several industries and organisations are focusing towards developing latest software’s and interfaces which has resulted in a rising demand of people with skills and ability to work on latest emerging technologies.

    Today we put an emphasis on 4 mostly searched and needed emerging technology.

    Artificial Intelligence

    AI technology has been a highlight of the past decade. From quantum computing and vaccine development to driverless cars, AI models played a very significant role. The AI business tools could forecast the shifts in industry and can help to make proactive changes to business and marketing strategies. Even the record speed of corona vaccine development was partly due to the AI models that helped the researchers analyse huge amount of data. The use of conversational supports using chatbots and virtual assistants, sentiment and text analysis with natural language processing have become more significant in the past year. The technology would continue to gain traction in 2021 as organisations shifting towards predictive capabilities and seamless supports. With the AI powered solutions getting more powerful, user experiences are getting better, building value for businesses.

    Private Universities

    Edge Computing

    The global edge computing market size is anticipated to reach USD 43.4 billion by 2027, exhibiting a CAGR of 37.4% over the forecast period, according to a new report by Grand View Research, Inc. As opposed to cloud computing, where the data is transmitted over to centralized locations for storage and computations, in edge computing the data storage and processing takes place closer to the data source and only results are transmitted to the cloud. This brings down the transmission bandwidth requirements and latency issues in networks, enabling the applications to respond faster. The AI-enabled new edge computing modules are already having huge popularity in applications ranging from self-driving cars and drones to robots which requires instant computing. According to the study conducted by Market Research Future (MRFR), by 2024 the market size of the Edge computing technology would reach by USD 22.4 billion. With the connected cities, vehicles and autonomous systems driving the market, the Edge computing would be ever so demanding in 2021.

    Cyber Security

    With the impact of digitalisation getting more prevalent in our life, cybersecurity has arisen as a biggest challenge. The number of virtual threats, phishing attempts, malware attacks has reached record heights in the past year. With the increasing frequency and complexity of cyber-attacks, the technology needs to be constantly evolved to enhance the security. With the governments and companies spending billions on cyber defence, the technology would remain one of the trendiest.

    Private Universities

    Blockchain

    Blockchain technology is gaining attention and is one of the most upcoming technologies. This technology emerged in the year 2008 as a whitepaper for bitcoin, since then several industries have been researching to develop applications using this medium. Blockchain has become an industry in its own right, even at this relatively early stage of its development. Promising blockchain start-up companies regularly accumulate hundreds of millions of dollars of investment in their initial offerings, with particularly successful ones such as EOS raking in multiple billions. It has led to a much secured and transparent system enabling it to be more trustworthy. The market is expected to exhibit significant growth owing to abundant benefits provided by this technology, such as eliminating need for any financial institution to authenticate transactions, eliminating reconciliation, reducing duplicative recordkeeping, facilitating faster settlement, and minimizing error rates. This technology allows access to databases from everywhere, thereby allowing multiple institutions to use it simultaneously to bring different systems nearer and help improve efficiency.

    Private Universities

    Authored By:

    Dr. P. Swami Sairam

    Assistant Professor

    Woxsen University




    • 24th February   2021

    Success in Financial Services!


    Private Universities

    Finance is a discipline that is dynamic. Ranging from domestic to Corporate acquisitions, finance is present in one or more forms. It is pervasive. The scale might change as per the level of applying the financial knowledge, but the principles are same. Services in Finance include Banking, Insurance, Investment Banking, Financial Advisors, Mutual Fund Managers, Investment Advisors, Swap Bankers, Financial Institutions, Chit Funds and this chain leads to an abyss.

    Key Qualities needed for success in Financial Services:

    • 1. Being Aware: Finance, being a dynamic domain, changes its form very frequently. So, one must be very much persistent in equipping themselves regularly with the information and the news for taking rational and accurate decisions in advising the clients or handling the funds. The nature of the some news can put us in an inveterate disadvantageous position if we know it late by a very small margin of time.

    • 2. Global Outlook: Money is everywhere on the globe and through globalization world has become a global village opening the gates. Therefore, one must have a global outlook when dealing with a discipline like Finance. Having knowledge regarding the international interest reference rates like LIBOR which is being replaced with SOFR soon, Global indices across the oceans, Securities laws etc. is inevitable.

    • 3. Knowledge of Information and Communication Technology (ICT): To deal and counter the everchanging financial environment, we need to be well-versed with the Information and Communication Technology. Amid this cutthroat competition, optimum decisions only can save us for which this knowledge of ICT is inescapable. To say it analogically, ICT knowledge is as necessary for success in Finance as much as food needs salt. It is an arsenal for fighting this continuous strategy that are not limited to one boarder and can affect every other part of the world.

    • 4. Knowledge of Statutes regarding Finance: Finance is wholly related to accountability for, custodianship of money of others. One must be well aware of the laws of land related to Finance to know what our limits are up to, as a citizen of the land. When we are stretching across the oceans, we need to take another big step of pocketing the knowledge of statutes of those lands, Treaties between the countries and trade agreements.

    • 5. Transparency and Loyalty: A person should be Transparent to maintain trust with customers and colleagues. Lack of transparency will lead to loss in customer trust and loyalty and leads to long-term loss of customers and impact on Business.

    • 6. Communication skills: An industry which deals with huge data communication is key. A person should have great writing skills so that they can write down financial report. Through communication they can give advice to clients in a simple way so that client will easily understand.

    • 7. Develop the right relationship with right people: Develop Relationship with industry people and learn from them. If we interact with industry people, they will share their experience and guide us to Develop our career.

    • 8. Be patient, and don’t quit: Developing new skills take time we can’t learn everything overnight. We have to work hard, asking questions and sharpen skills. But no matters what happen we have to look forward and be patient.

    • 9. Believe in yourself: Not only to succeed in finance but to succeed in life we have to believe in yourself. Do not wreck yourself with doubts and negative thoughts. Trust yourself that you can achieve everything you want, and you can face any challenge.

    Authored By:

    Ritu Parna Bagchi (MBA 2020-22)

    BH VSN Manoj Kumar (MBA 2020-22)

    Pisapati Sri Venkata Sumanth (MBA 2020-22)




    • 11th February   2021

    Fundamental Tips To Ensure Long-Term Continued Motivation in MBA Grads


    Private Universities

    Master’s in Business Administration/ Post-graduate diploma in Management or for that matter, any masters courses are usually a two-year program wherein, the students are expected to transform into industry professionals in due course of time. The demands of the course placed on students require them to perform consistently, while maintaining grades, preparing for the job markets and completing the course requisites. In such instances, staying motivated to perform well may turn out as a challenge to numerous students.

    In this article, I discuss a few aspects to practice to stay focused and consistent to perform to the best of the capability of the student.

    • Mindfulness – understood as being present in the moment, acceptance of the present, living the moment without judgement. Take it one step at a time. Focus on completing one task which is in alignment with the bigger goal of getting a degree and a good job.

    • Time Management – set a timeline for short-term tasks as well as long-term tasks. Make a routine for self-study and completion of course components.

    • Build an interest in the subjects – start enjoying reading and working on assignments. In that way, it will feel less stressful and more playful.

    • Rejuvenate – in the routine you set for yourself, keep at least 30-60 minutes for activities you enjoy. Such as, dancing, singing, exercise (yoga, gym and so on). Basically dedicate time to do an activity you love.

    • Remember why you started the course in the first place. Keeping in mind the intent of initiating the course will always help you stay focused and give you perspective to plan out things in a better manner

    • Benchmark yourself. Keep an intent to challenge your own capabilities and improve on them. The golden rule here is “Do not compare yourself with anyone else”.

    • Keep a long term career goal. This aids short-term plans, in terms of finding internships in the desired domain of future interest.

    • Support your peers and work with them in coherence. It is agreeable that journey of having a master’s in business administration can be taxing and keeping to yourself may help you stay focused. It is also true that friends are the reason the process becomes easier. Add meaning and value to the friendships so you can learn and grow better.

    • Practice the concept of flow. Flow is being absorbed in your work task that you lose track of time and space. Doing your tasks with flow not only makes you perform better but also makes one feel content.

    • Anything you take up, give it your complete attention and best shot.

    Adapting one or more of the above mentioned criteria will foster students motivation to continue and complete their work and excel in their endeavours.

    By:

    Prof. Namita Ruparel,

    School of Business




    • 10th Januray   2021

    Benefits of Bloomberg Lab in the Financial services domain


    Private Universities

    Bloomberg:

    Many people who are into trading will not be unfamiliar with Bloomberg. To investors, financial tools provided by Bloomberg have been indispensable in helping them post rich returns and prosper during the bull market of the last decade.

    Founder Bloomberg established the company bearing his name in 1981. Bloomberg LP provided quick, high-quality business information to Wall Street.

    Bloomberg Terminal

    The Bloomberg Terminal is an integral tool within the finance industry that is used to access, compile and analyze financial information. Over the years, the Bloomberg terminal has transformed into a system that is accessible anywhere.

    Many companies rely on the terminal to assess individual securities, market movements, and monitor news simultaneously. An extension, Bloomberg Tradebook, allows formal trade execution through its messaging service. Traders, portfolio managers, and risk management analysts, among other financial professionals, rely on the program for daily market analysis and trading decisions.

    (Refer:https://www.investopedia.com/articles/investing/052815/financial-news-comparison-bloomberg-vs-reuters.asp)

    Benefits of Bloomberg Lab

    Bloomberg can be a correspondent with investment information in many areas of finance. World’s most prominent decision maker, it is a contemporary icon of financial markets.

    Launched during 1981, a long time ago PCs and the internet became worldwide. It brings transparency to financial markets. It connected market participants to a leading-edge data, information-delivery service, analytics and revolutionized industry.

    It’s been more than three decades Bloomberg Terminal remains at the forefront in innovation, providing fast access to essential news, trading tools from internet-connected PC or Mobile it helps subscribers to turn their knowledge into action.

    Armed trading with unified solution

    With increasing complexities in stock markets with new instruments emerging everyday, time and information plays a crucial role in decision making. Effective decision depends on the pace of getting equipped with the information and the adeptness in using the information to make optimum decisions with rational predictions of market movements. Bloomberg technology provides worldwide news on a real time basis. The very nature of markets being sensitive to uncountable variables across the globe is one thing that challenges analysts. The only solution for this is to have information about the globe on their desktop. This has been made possible by Bloomberg.

    Bloomberg is the primary source in context of analysis, Awareness for those who need to know what’s happening now and what might happen next. It delivers unique coverage of markets and securities with information across asset classes from fixed income to equities, to foreign exchange, commodities and derivatives consolidated in one place and delivered in concurrent to desktop or mobile.

    It continually develops and applies cutting edge technologies to deliver best in class tools, such as custom desktop applications, portfolio monitors, market alerts and charting accomplishments that advance user workflow. With this, it is creating arms for stock war in the markets. It offers trading solutions over multiple asset classes and worldly before and after-trade analytics for both the buyers and sellers.

    Besides the above, Radio bulletins and Podcasts giving expert opinions and recommendations. It has retirement planning in its capacity which is for elderly and retired people searching for investment opportunities that yield periodic returns. It includes separate sections for real-estate, Mortgage calculations, World Political news and Macro-economic indicators. Bringing together real-time data of every market, communications tools, powerful analytics, in-depth research, breaking news and world-class implementation capabilities, it provides one unified solution.

    Disaster Recovery services

    When an unexpected event disrupts normal business operations, Bloomberg’s Disaster Recovery services help clients quickly and easily resume operations on the Bloomberg Terminal, no matter where employees are located.

    Disaster Recovery services

    When an unanticipated circumstance causes it affects normal business operations, Bloomberg's Disaster Recovery services helps users speedily with ease proceed operations, In spite of the person's location.

    Real-time experience to students

    The benefits of Bloomberg terminal to students were appreciated in the institutes of national importance like IIM Bangalore, IIM Calcutta etc. But there is a lot of space for expansion in Indian Universities. Now several institutions and universities are on the track towards establishing this terminal to make themselves the attractive destinations.

    These labs aid students by giving access to the empirical data for research and assist them in placements with their increased proficiency in financial markets. It lays foundation for doctoral studies in the discipline of Applied Finance. It provides support to Financial Engineering in giving an idea about the feasibility of creating financial products in the market and the list is not exhaustive. With gates open to information of Bankruptcy across the globe, Mergers etc. i.e., both qualitative and quantitative data, the tyros can find this as the best place for enjoying the aesthetic nature of Finance and its branches.


    Principal Author:

    Prof. Syed Hasan Jafar

    Co-Authors:

    Ritu Parna Bagchi (MBA 2020-22)

    BH VSN Manoj Kumar (MBA 2020-22)

    Pisapati Sri Venkata Sumanth (MBA 2020-22)



    • 19th December   2020

    Importance of Technology in Finance...



    Private Universities

    Technology has opened up new faces in the discipline of Finance. The mark of it can be seen in activities related to Finance like Trading in markets, Interest rate swaps, Banking transactions, Forensic Auditing, Due Diligence during Merger and Acquisition and more.

    Woxsen was then a very young B-School with just two years of existence from its inception. I had my qualms on pursuing the opportunity with Woxsen as it was a new institute. All my perception over-turned when I met couple of professors and got feedback from few alumni. It amazed me to know the prospects of Woxsen as it has the best faculty from across the globe under the astute leadership of Prof. M. R. Rao and the Dean who were widely recognized among the leading top B-schools in India. It was then I decided to pursue my management career at Woxsen in marketing. The massive campus, aesthetic infrastructure were the two other important factors that made me feel Woxsen is the right place to shape my career.

    Markets and Trading

    In 1994 NSE was handling 2 orders a second. This increased to 60 orders a second in 2001. Today NSE can handle 1,60,000 orders/messages per second, with infinite ability to scale up at short notice on demand. The settlement cycle has been reduced from T+3 to T+2/T+1

    Financial trading has intensified with information technology. Information needed for the investor or trader are being provided to them on real-time basis. Software is readily giving the required information and analysis to aid the technical analysts with charts, moving averages, Support and Resistance, Relative Strength Index (RSI) etc.

    Besides this, it helps the fundamental analysts in computing fair values by reflecting the economic conditions relevant and prevalent. This requires assessing the possible opportunities of investment for investors so as to derive the discount rate of finding the present value of all the cash flows from the investments after adjusting the inflation. Investors are well equipped with the latest news to make informed decisions.

    For a simple day-trader, ideal stop loss levels are being calculated and are being suggested to the investor reflecting real time conditions. Pre-set prices help the investor to execute the order at the exact desired time. Top losers and gainers are shown to the trader to enable him to alter his portfolio.

    This enabled the traders and investors to set their foot in the international markets and adding international stocks to their basket. Data visualization, while leveraged by augmented or virtual reality can make it a lot easier to spot trends and make sense out of a large amount of information.

    Technology in Accounting and Auditing:

    Accounting has been a synonym for tediousness and monotonous work from the past. The profession is rapidly transforming due to productivity optimization available through newer technologies. Today, it is no longer burden and is no longer a task-oriented project. Accounting software, available today in the market, have brought tremendous change by shifting the role of the accountant to an advisor. This helps the entire collaboration of Financial Analyst, Auditor and Accountant making the financial decision-making process faster.

    And, here I am. . .

    Cloud computing, a mechanism by which highly dependent sources provide shared computer processing resources and data to computers and other devices on demand. Businessmen, today, are able to run their operations across the different parts of globe with uncompromised efficiency because of this Cloud computing. This allows accountants of different branches or subsidiaries to perform accounting tasks from any location as well as the ability to deliver financial information and reports through the cloud as and when needed for the needed period of time. This even eased the process of Auditors of Head Office in forming an overall audit opinion after consolidating the financial statements of all the units lessening the audit risk

    Tax Software available helps improve the accuracy and transparency on one side and tax planning on the other side. This helps the auditors to plan accordingly to reduce the penalties like interest on late filing. Penalty for non-payment of Advance Tax and even providing the necessary information tailored as and when needed. These software are designed to get updated as per the latest Finance Budget, Circulars and Notifications of Income Tax Department

    Mobiles and tabs have made things much easier. They have improved the bridging between auditors and clients. Today a small wait is large enough to affect the businesses. Timely information, reminder and notifications such as Income Tax notices can be accessed easily to make an action plan in situations of submission of client data.

    Fast and regular updates in the amendments of various laws and statues help the practitioners to keep themselves updated. Several apps are also providing the details of case laws for the practitioners to enable a healthy practice.

    Function of IT in Banks and Insurance

    Financial data can be easily conveyed with information technology. Instead of inspecting and checking each and every detail of the beneficiary and the transferor by any human intervention, IT can pass a transaction instantly with accuracy. AI has even made it possible for the bank to identify and analyse whether there is any money-laundering pattern.

    Suspicious data patterns among mammoth volumes of data are being identified to aid the forensic auditing and investigations. Claim management, which is one of the error-prone areas of banks can be done efficiently. Debit and Credit card transaction is rapidly compared with the user's account balance; permit a bank to decide whether to authorize a transaction. IT has made it possible for the public to perform any financial transactions even during the non-working days.

    Essential for Global Reach

    The internet has been utilized successfully to access information on different market conditions globally. Fluctuation in a specific market area in the world can be easily observed and used to protect the financial sector in other regions. It has been possible because of the complex database and network system that connects different parts of the world. It is major in creating checks and balances in the global market. Ensures comparative stability in the financial sector.

    Private Universities


    Source:

    https://www.information-age.com/technology-finance-banking-sector-123471800/
    https://en.wikipedia.org/wiki/National_Stock_Exchange_of_India)
    https://accounting.uworld.com/blog/cpa-review/5-ways-technology-transforming-accounting/
    https://sfmagazine.com/post-entry/august-2017-improve-your-technology-skills/

    By

    Ritu Parna Bagchi (MBA 2020-22) ,

    Bhupathiraju Venkata Surya Naga Manoj Varma (PGPXP 2020-21)

    Sri. Venkata Sumath Pisapati MBA (2020-22)



    • 29th August 2020

    It all began here, at Woxsen!...



    Private Universities

    After working for two years soon after my graduation, I was confused to choose the right career path whether to excel in my technical domain or to swing to management career as being an engineer always has its limitations. I was then working as a Mechanical Engineer for a Danish based manufacturing firm in Hyderabad. When I was exploring the best possibilities across the country for a decent institute with well-designed curriculum, I came across Woxsen School of Business.

    Woxsen was then a very young B-School with just two years of existence from its inception. I had my qualms on pursuing the opportunity with Woxsen as it was a new institute. All my perception over-turned when I met couple of professors and got feedback from few alumni. It amazed me to know the prospects of Woxsen as it has the best faculty from across the globe under the astute leadership of Prof. M. R. Rao and the Dean who were widely recognized among the leading top B-schools in India. It was then I decided to pursue my management career at Woxsen in marketing. The massive campus, aesthetic infrastructure were the two other important factors that made me feel Woxsen is the right place to shape my career.

    Peer to Peer – Recognition in learning

    Initially, I took admission into a two-year PGDM program but when I got to know about the one-year PGPXP program and the prospects of the other students, I was excited to be a part of class with experienced professionals from different industries, different domains and different parts of the country. This classroom felt more multi-cultured than ever as not only the varied experiences but also different outlook from my peers helped me increase my knowledge on commerce and industries.

    Thanks to the program which was more of learning than being taught. The faculty always taught us to study than just teach the subject which made all our course-mates work closely together in all modules, assignments and projects bringing out optimal solutions and resourceful ideas. Case-Study based learning methodology is really good as we were given real-life management scenarios to work and practice the theory we learnt in classroom.

    I would say Woxsen has a 360° approach in education. Though I chose Marketing, the program made me look at operations and finance as critical functions of management. In an organization all business functions are inter-connected. Also, the program was not so easy, rigorous schedules and countless modules to complete in just one year. Competitiveness always existed and especially for me being one of the youngest students of the class which has a collective experience of not less than 50 years, it was never an easy task to contend.

    Induction – the Ice-Breaking session!

    The two-day Induction and orientation program at Woxsen needs a special mention and it is among one of my best memories at Woxsen. The orientation was hosted by the then current students during the first evening on campus making us feel comfortable from the first day itself. The second day was not at all easy as we had a survival program planned and held by a military veteran. In the massive 200-acre eco-space of Woxsen, there are many natural frontiers which were chosen for our activities. This part of induction was designed in a way that I got along with many of my colleagues by end of the induction during my second day of joining. This is one of the ‘musts’ that I look upto having in future as well. Apart from the academics, I had wonderful time during the entire year at Woxsen and the campus life was incredible that I enjoyed most of my leisure time playing table tennis, badminton, swimming. The best part was cricket ‘Woxsen Premier League’ and I am proud to be the founding owner of ‘Great Gaffers’ and it makes me feel happy when I see the team is continuing legacy every year.

    And, here I am. . .

    After a great year at Woxsen, today I am working for DESMI as a Segment Sales Manager handling Defence & Fuel segments for Indian sub-continent including Sri Lanka, Bangladesh and Maldives and I am delighted to be a part of management team of the organization. I am here because of what I have learnt from my professors and the friends at Woxsen. I cannot end this without thanking all Woxsenites for making my experience at Woxsen life changing & worth it.

    By

    Vamsi Arvind Pentyala,

    (PGPXP 2016-17 Batch)



    • 19th August 2020

    Need Of The Hour - A Focused B. Tech. Program in Automation & Robotics…



    Private Universities

    Indian heavy industries, especially the automotive industries, have employed industrial robots significantly with the result that cars today are quite affordable to the middle-class buyer. Nevertheless, the field of robotics is vast and highly varied.

    Despite the enormous potential in areas such as space, surgery and societal needs, the application arena of robotics is becoming diversified at a comparatively slow pace. One possible reason could be because the Robot Technology is highly interdisciplinary, depending on the available talent and technological breakthroughs in multiple fields.

    A robot is basically a computer-controlled mechanical system - a machine. The role of electronics is in sensor integration and controlling power delivery to the motors.

    Robotics is entering into a transmuting phase:

    • Robots are no more individually-installed machines, but devices that connect, cooperate and collaborate with each other and with other entities in the manufacturing system

    • Robots are no more industrial equipment alone but are now sought for a wide variety of applications such as autonomous cars and unmanned aerial vehicles, popularly known as drones

    • Robots are expected to operate fast in reaction to unknown, unpredictable & unprogrammable environments such as surveillance, relief and rescue, rehabilitation, brain-computer interface and entertainment

    • The robot has to be slim and consume less power yet be energetic, as one might expect a healthy human to


    In a variety of modern applications, it is impossible to program a robot in advance. For a large part, the robot has to learn itself and function as an intelligent, autonomous entity that will cohabit among other machines, systems and people. The programming is restricted to the hardware level and minimal logic related to acquiring and reacting to sensory inputs.

    Let us consider the following:

    • A robot playing tennis against a human player. It has to be swift in action and quick in visual judgement

    • Many robots playing a big team sport such as soccer, basketball or cricket

    • A few robots together carrying a patient in a stretcher

    • A driverless car


    The above systems exhibit high-speed motion, carrying significant loads or both. All of these are examples of single or multi-robotic systems that have to behave intelligently and not just “robotically”. Such applications cannot be realised purely from the point of view of dealing with robots as programmable mechanical systems. Any modern curriculum in Robotics must factor this interdisciplinary aspect.

    In the 80’s, Robotics was mostly part of Industrial Engineering departments in US universities as Robotics were considered an important part of industrial automation while researchers in other departments were working on theoretically involved topics such as Control Theory, Fuzzy Logic, Computer Vision and Neural Networks. A decade later, a quantum jump in theoretical and applied research outcome in Robotics emanated from Electrical Engineering and Computer Science Departments of the Universities.

    The scenario in India was also similar. For decades, in most Universities in India, Robotics have been offered as a single theoretical course in the Mechanical Engineering Department. In the past five-to-six years, several Universities and colleges with approval from AICTE have introduced exclusive B.Tech. Programs in areas such as Mechatronics or Robotics and Automation.

    A close observation of the curricula gives an impression that the program has significant bias towards Mechanical Engineering barring a few courses related to electronics and microcontrollers. Students, even at Master’s level of these highly interdisciplinary courses apparently intend to remain in the comfort zone of their undergraduate studies. It might not be an overstatement to say that the interconnect between these varied courses is largely missing. Woxsen University aims to fill up this gap through B.Tech. programs in three cutting-edge disciplines.

    B.Tech. program in Automation & Robotics at Woxsen University offers applied and advanced robotics with strong foundation in Computer Science. Modules related to basic robotics and mechatronics provide ample insight into the industrial standards, practices and applications. Modules on mobile robots and exoskeletons focus on the emerging area of field robotics. Added to this will be the significant theoretical and practical exposure in computer science, artificial intelligence and computer vision.

    Heroic and intelligent deeds of robots in the emerging scenario will remain unrealised without a significant role of computer science. That also requires a large computing power. How the technology is going to address this need is another story.

    Author: Dr P. Vivekananda Shanmuganathan,
    Dean - School of Technology | Woxsen University



    • 11th August 2020

    A once in a lifetime opportunity to interact and learn from best minds…



    Private Universities

    A good teacher can inspire hope, ignite the imagination, and instill a love of learning.Brad Henry

    The professors at Woxsen School of Business inspire hope, ignite our imagination and inculcate the art of love of learning and more. According to me they have really set the bar high for MBA programs across the nation. Woxsen delivers exceptional learning experience to all its students through its Academy Advisory Board which guides the academic endeavours and industry interface/corporate relations initiatives and the rich line up of faculty members.

    The Faculty at Woxsen are rich in experience, research accomplishments and more. There are also global faculty visiting us from leading global universities like Cass, Purdue and more. Our Faculty members urge us to discuss what we learn, and also to challenge their ideas. Instead of having a three-hour lecture with the professor doing most of the talking, we are encouraged to participate and give our opinions on topics.

    This program has given me invaluable experience of working through real-life business problems. The professors provide us with real-world examples of how the concepts we are learning in class are being applied in the business world. These connections show us that we’re learning practical skills that we’ll further use in our careers.

    The case studies have helped us to view a problem the way a company does and figure out a unique solution. It gave me the chance to apply the skills I learnt. Woxsen MBA program combines dynamic classroom experiences with hands-on experiential learning providing students with abundant opportunities to fortify their talents. The degree we earn from the school won’t just be another frame to hang in but, it’s a testament to our proven ability to drive results.

    I would say, there is so much more to the program than what I initially expected. It has been much more than an educational experience. It has been a phenomenal leadership training, personal growth and professional development experience as well. I think the entire program is very well-designed and adds tremendous value to our long-term career aspirations.

    Author: Phaniteja Mandalapu,
    (PGPXP 2019-20)



    • 8th August 2020

    Woxsen Transforms Lives...



    Private Universities

    Hi, I am Barun. I was working in Pune, Maharashtra for a leading MNC company. I worked as a Software Engineer, developing application products for Credits Cards for a world renowned bank based at UK. I completed my core studies in Bhubaneswar, Odisha before moving to Pune in 2013.

    As a Software Engineer very early in life I assessed, this is how my life will be for the next 40 years until retirement. I was doing very well at my job, received constant promotions and appraisals throughout my tenure of 5 years. But, then the industry that I was in was always about switching jobs. I was working as a Consultant and my friends would often suggest that I change job. That is when I started to introspect.

    My Introspection Bit…
    When I started to introspect, I got to realise that my current job gave me technical skills and knowledge but it did not give me any exposure to people skills or business knowledge. All I did was just coding and solving bugs, knowing just the system or at max the function. This is when I realized I need to expand my skills and knowledge base. Now the bigger question is, in India when you speak about higher education what should you go for? M.Tech or MBA? I was 27 Years old back then and any course that I choose to apply would take at least 2 years of learning and time. Now the only option was a program like Distance Learning. But, how much of a value will that add?

    Beginning of my MBA journey…
    The journey began searching colleges and universities offering MBA Programs and all the entrance exams that I have to appear to get an admission. So, in pursuit of programs, I found that, there is a 1-Year MBA program specifically designed for Working Professionals. To be honest in India, you need to write 3 to 4 different exams to get an admission. But, one thing that was commonly accepted by all colleges is a GMAT score. So, I left my job and started preparing for GMAT exam.

    World of Woxsen…
    While applying for universities I had applied for Woxsen School of Business. They were real quick in responding and took up my queries as well. So, in no time my Online interview with the panel was scheduled. The interviewers were very candid, we had a discussion rather than having a Q&A session. I was offered my admission letter along with that I was offered half a million scholarship based on my profile and interview performance. I accepted the offer and came to Woxsen.

    It has been quite a while since the first class but I still remember how our Dean, showed us a different perspective of business. Every day I learnt something new and it gave me a fresh experience of learning. Completing an MBA in one year is no easy task, however we stepped out of our comfort zones to finish presentations and submissions. It was an immensely rewarding experience working with such a diverse group of experienced professionals who came together from various parts of the country sharing their valuable perspectives and helped me grow intellectually. Technical skills acquired over the years were helpful, but the most important skills that I learnt at Woxsen were Leadership, Presentation, Human Relations and Thinking Out of the Box.

    Today, I am working as an Associate Product Manager at Telebu Communications LLP, Hyderabad. A company focused in making products for Business Communication. I am extremely proud to be a part of Woxsen and it is so reassuring to know that you don't just leave the college with a degree and learning, but have built a network of mentors through the faculties and the students you have worked with and that they will continue to help you learn and grow.

    Author: Barun Bikash Sahoo,
    (PGPXP 2019-20 Batch)



    • 4th August 2020

    CHANGE IS THE NEW CONSTANT – My Story!



    Private Universities

    After completing my Graduation from Symbiosis, Pune as my other friends even I decided to apply for a master’s degree in business administration. Luckily, I got an admission in one of the prestigious Universities of Australia, but life doesn’t go as we plan, does it? My visa application got rejected. It was a depressing, discouraging moment as I hadn’t prearranged any backup plans.

    New Life New Beginning
    I have always believed from my childhood that whatever happens, happens for a reason, it might sound cliché, but it has always given me the strength to move ahead with confidence and lots of hope. During this journey I came across Woxsen School of Business providing Master of Business Administration (MBA). The professors associated with Woxsen School of business from across the world, program curriculum with cutting-edge specializations had my attention. I was really impressed by all these aspects and decided to pursue my master’s at Woxsen School of Business.

    MBA Journey
    It was in 2014 when I started my journey with Woxsen School of Business, Hyderabad. It was a different experience altogether because of the new place, new culture, new people, different food. I also got the perks of hailing from an army background as all my life one thing that I learnt is that “Change is Constant” and very early in life I understood, adapting is the key to survival. When I stepped into Woxsen, it took me some time to adjust and only till I found two people whom I could call my best friends, though they were my seniors, it never made a difference really. These two friends played a vital role as their corporate experiences gave me an insight of how it is going to be out there in the corporate world. Their contribution towards preparing me for my future got me my first job after completion of my MBA program. As a matter of fact, we three are still connected…………….

    New Career
    After an amazing career transforming journey with Woxsen School of Business, today I work for a Dubai based EATERY. I handle company's business operations and Product development. I am and always will be proud and grateful of being a part of Woxsen School of Business family because of whom I discovered my innate interests & skills.

    Author: Akshay Agarwal,
    (PGPEM - 2014)



    • 28th July 2020

    From Evaluating Business Opportunity to Finding The Purpose of living Woxsen Bequeathed it all:



    Private Universities

    It was a dream for me to do an MBA, start a business, wear those fancy suits, travel across the world and take critical decisions for business.
    Having lived through business school and now out in the real world, I can offer a very interesting perspective. This post will cover a collection of truths about my own experience and how Woxsen helped me find new direction in life.

    Let’s start with the truth:
    After my graduation I worked for some odd jobs which didn’t really excite me but instead made me understand my weaknesses and little attention to them can convert them into my strengths. I continuously tried to change way I operate but the level of efficiency and impact the work has to create was never achieved.

    Now that I know where I lack, I wanted to understand the specific goals that I had to achieve from an MBA School.

    “If we give you an MBA, what are you going to do with it?”, this question popped up and there was a reasonable answer I had to convince my parents. Yet I persuaded them to live my decision, which made them very happy by the end of course.

    With a hope to find better college with better curriculum, I visited many colleges and career counsellors and in this random process I visited Woxsen, where I Instantly fell in love with campus environment. But being so rigid on my specific requirements from MBA made me look for the course curriculum and when I saw it, I had no reason to say no to the campus. The curriculum has a range of challenging courses and is frequently revised to imbibe the industry trends and developments.

    First day at campus: June 16, 2017.
    No matter how prepared I was for college life, I was very anxious when I arrived at the campus, flat-out panicked.

    “College life exposes us to new experiences and things that we were not familiar with earlier”.
    We had an interaction with Founder & Chairman Veen Pula. I still remember his first speech, which lasted 4 minutes and ended with his 3 mantras of business: People, Passion and Patience.

    Once in a life time opportunity:
    Any MBA program can only propel when it has world class faculty. For me it’s a once in a life time opportunity to meet the brilliant minds with rich experience in the real business world and they always focused on enriching their teaching with real life examples.

    I had a chance to solve challenging case studies that had totally changed my perspective of solving the business problem. I got an opportunity to network with business leaders at the seminars and have discussion with them on different business ideas. I even went out to ask them to design a marketing strategy for my business.

    Few lecturers inspire with their calm and ease, one such faculty was Dr. Harkant Mankad, he is a library of knowledge.

    “Things happen because things happen” – My favourite phrase of his.

    His classes will make you think the world is entirely travelling somewhere else from what you actually thought. The career suggestions he gives us are something that the world has not seen yet.

    Career after MBA:

    Post my MBA I started my career as a Marketing Manager for fintech company, where I handle all the digital marketing activities. I feel that the purpose of joining Woxsen has been fulfilled. I can totally see the change in the way I operate at office.

    Before MBA I was passionate about SOMETHING, but I didn’t know what to achieve with that passion. Right now, I have started an entrepreneurial journey with a true purpose to build world class organisation. Still a long way to go.

    Author: Naren Reddy Kovvuri
    (PGDM 2017-19)

    " I am an ambitious, self-driven person, with huge aspirations to build organizations. I have always been an academically bright student since childhood. Till date, I have started two ventures, failed at one and learnt valuable lessons.

    Post MBA, I worked for Zaggle, a fintech company, where I was given the opportunity to handle the content marketing activities. During this journey we went on launch a book on entrepreneurs, where I had actively involved is designing the sales & marketing strategy for the book. Year 2020, has brought in many changes and it has stimulated the entrepreneur inside me. Recently, I launched my new venture, a healthy food beverage. With the learning from my previous experience I strongly believe that the product has a very good potential and I am totally excited about it. "