Research Aims and Objectives

There are different aspects of a business such as the production units, supply chain networks, sales and marketing department, business perspectives of the external stakeholders and customer help desk which can be boosted with the help of the recent advancements in the field of information technology. The efficiency and the productivity of business organization can be hugely benefitted with the use of the latest technologies (Kitsios & Kamariotou, 2016). It can be said that these latest technologies also help the business organization to manage their different internal business processes such as the payroll, record keeping about the employee data and sales, accounting department.

Thus, the paper will be focussing the impact of the information technology devices in different business corporations. The paper will be focussing on the different business aspects of information technology, it will also focus on the effectiveness of the information technology in business organizations.

Research Aims and Objectives

            The foremost aim of the paper is to understand the importance of the impact of information technology in business. The growth and development of the business which are boosted by the advancements made in the field of information technology will be focused in this paper.

            The different types of research objectives of this paper are as followings:

• To understand the role of the new technological advancements in business.
• To find out the effectiveness of the information technology in business.
• To suggest the different ways through which the technologies can be used according to the needs and requirements of the business.

Literature Review

As discussed by Wagner, Beimborn and Weitzel (2014), the latest technological progressions in the field of information technology has boosted the growth and efficiency of many business organizations. The researcher of this paper focused on the successful completion of the organizational goals such as sustainability development with the help of advanced IT technologies. The business value of the assets of the business organization can be secured from the intruders with the help of the automatic sensory devices and surveillance. The researcher also focused on the importance of the performance tracking device for monitoring the performance of the stakeholders.

The service quality of business organization can be improved with the help of the IT technologies such as the Information System. The researcher also focused on the importance of the overhead costs associated with the business organization which can be minimized with the use of the information technology (Da Xu, He & Li, 2014). The main advantage of the paper is that it focuses on all the possible role of the technological advancements in business operations. The main disadvantage of the paper is that it does not focus on the limitations of the technological advancements such as the high initial investments which are required to get the desired results from the technological advancements.

However, according to Avgerou and Walsham (2017), there are different limitations associated with the technological advancements. The researcher of this paper focuses hugely on the limitations of the technological advancements which causes severe business loss for the organization. The researcher also stated the ways by which problems such as the overhead costs associated with the technological advancements can be solved (Choi, Chan & Yue, 2017). Thus it can be said that that the technological advancements have led to the growth and development of business organizations.

Literature Review

According to Wu, Straub and Liang (2015), information technology is very much effective in business processes. The researcher of this paper focused importance of the IT governance plan which can be effectively used to find out the effectiveness of the incorporation of the IT technologies in business organizations. The paper was also helpful in understanding the different advantages and disadvantages of the IT governance plan which is important for finding the effectiveness of the incorporation of information technology. The strategic alliance of the business processes with the new technologies is stated in details in the paper.

The paper was very much helpful to understand the influence of the IT governance plan with the different IT technologies such as Artificial Intelligence (Palattella et al., 2016). The investments required for the IT technologies and implementation of those technologies are also discussed in the paper. The researcher focused on the practical implementation of the AI based system which is more helpful than the other technologies.

The accuracy of the accounting department and the security issues of the clients of business organizations is solved successfully with the help of the artificial intelligence. The researcher stated that effective and professional IT governance plan is very much required to contain the costs involved in the installation of the AI based system. The main advantage of the paper is that it states the details of the overhead costs for required for new IT technology which is artificial intelligence.

The researcher focused on the importance of the documentation before installing any kinds of advanced technologies in a business environment. The researcher focused on the limitations associated with new IT technologies such as the artificial intelligence in the business environments (Khorov et al., 2015). The main drawback of this resource are that it do not focuses on the limitations of the IT governance plan, the paper also fails to state the limitations associated with the artificial technology which is frequently used in most of the global organizations.

However, according to Laudon and Laudon (2016), there are ethical issues connected with the use of the artificial intelligence in business organizations. All the ethical issues are very much concerning considering the overall progress of the society. The researcher focused on the loss of job due to the extensive use of the artificial intelligence systems. The concept of equality is still not incorporated in the AI based system which is considered as a negative aspect of this technology, along with that the researcher also focused on the impact of the application of automated system on the behavior of human beings.

Biasedness is the other limitation associated with the use of the AI based system in business organizations. The security of the customers is the most important business perspective of information technology which is sometimes disturbed due to various security issues. The researcher focused on the limitations of the social and professional issues of the artificial intelligence (Das et al., 2015). The main advantage of the paper was on the impact of the IT governance plan on artificial intelligence.

The drawback of the paper was that it did not focus any complication of artificial intelligence organization in any business organization, the paper was written entirely in a generalized format. Thus, it can be concluded that effective IT governance plan is needed for the implementation of IT technologies such as artificial intelligence in business organizations.

As stated by Baller, Dutta and Lanvin (2016), different information technology devices can be used in business. All the different aspects of the business process right from the raw materials received from the markets to the delivery of the products and services can be improved significantly with the use of the different technologies. The researcher focused on the importance of the application of information technology in different types of business organizations such as the healthcare industry, media industry and retail industry (Jin et al., 2014).

Each of those business used to store the complex transactions with the help of accountant experts, but there are lots issues associated with the manual data storing capabilities this problem can be solved purposefully with the help of the advance developments in the field of information technology. The different types of records which were maintained manually entered and stored in the excel sheets are now maintained in the databases with the help of the automated technologies such as artificial intelligence (Mohanty, Choppali & Kougianos, 2016). The computerized systems are more accurate and efficient. The products and processes of the business organizations are also improved with application of IT technologies as they can perform nonstop unlike the manual labors.

The face recognition of artificial technology is very much useful for the maintaining a secured environment in the business organizations. Safety from the intruders is there due to the speech recognition application of the AI based systems on the entry and exit of the complexes. The researcher focused on the use of the latest advancement in different types of industries such as the energy industry, finance industry, manufacturing industry, media industry and retail industry. The foremost advantage of this paper is that it stated the advantages and the disadvantages of the application of information technology (Bi, Da Xu & Wang, 2014).

The researcher stated that if any of the incorporated technologies are causing harm to the environment then that system can be immediately uninstalled. The needs and requirements of the clients of business organizations keeps on changing with time which leads to the growth of technologies needed in the professional environments. Every business process such as the production unit, marketing unit, customer care department and other important departments can be effectively applying different aspects of artificial intelligence such as the self-ware AI, Artificial Narrow Intelligence, Artificial Superhuman Intelligence.

However, as stated by Tayeh, Al-Jarrah and Tarhini (2015), the implementation of the artificial intelligence can have negative impact on both the working environment as well as the society. The researcher focused on the increased dependency on the automated systems which is a huge source of concern. The researcher focused on the security and privacy issues of the data such as the ransomeware which are transmitted from one unit of the organization to another, it can be a huge business loss for the organization (Tsai et al., 2015). The different issues can also be minimized if the incorporated technologies are installed in the working environments as started by the researcher.

Research Plan

Connection between the dependent variables and independent variables is a prime aspect of this research. Many dependent and independent variables will be considered in this research which will be contributing to understand the importance of the application of information technology in business over the years.

Data Collection Process

            The paper will be very much reliable as it will be considering secondary type of data collection as there was a shortage of time. The advantages and the disadvantages of the information technology in business can be understood in a better way with the help of this type of data collection as primary data collection process do not support further analysis. Secondary type of data collection will be conducted from realistic sources as it was very difficult to collect data from primary sources

Data Analysis Process

            The collected data will be transformed into numeric and percentages so that comparison charts can be created. Charts and graphs will be helping to recognise the influence of the information technology in business  over the years. Inferential and descriptive analysis will be conducted to analysis the data collected from the secondary sources. The analysed data will be presented in a tabular format.

Feasibility of completion

            The project will be conducted in 25 days starting from 14^th November to 16^th of December, the initiation phase will be 12 days starting from 14^th November to 28^th December, development phase will be 12 days starting from 29th November to 14th December and closure phase will be 1 day 15^th December which is the final day of the project.

Data sources

            The journals considered in the paper are as follows:

Table 1: Data Sources

(Source: Created by the author)

Reference

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Baller, S., Dutta, S., & Lanvin, B. (2016). Global information technology report 2016. Geneva: Ouranos.

Bi, Z., Da Xu, L., & Wang, C. (2014). Internet of things for enterprise systems of modern manufacturing. IEEE Transactions on industrial informatics, 10(2), 1537-1546.

Choi, T. M., Chan, H. K., & Yue, X. (2017). Recent development in big data analytics for business operations and risk management. IEEE transactions on cybernetics, 47(1), 81-92.

Da Xu, L., He, W., & Li, S. (2014). Internet of things in industries: A survey. IEEE Transactions on industrial informatics, 10(4), 2233-2243.

Das, R., Madani, V., Aminifar, F., McDonald, J., Venkata, S. S., Novosel, D., … & Shahidehpour, M. (2015). Distribution automation strategies: Evolution of technologies and the business case. IEEE Transactions on Smart Grid, 6(4), 2166-2175.

Jin, J., Gubbi, J., Marusic, S., & Palaniswami, M. (2014). An information framework for creating a smart city through internet of things. IEEE Internet of Things journal, 1(2), 112-121.

Khorov, E., Lyakhov, A., Krotov, A., & Guschin, A. (2015). A survey on IEEE 802.11 ah: An enabling networking technology for smart cities. Computer Communications, 58, 53-69.

Kitsios, F., & Kamariotou, M. (2016, May). The impact of Information Technology and the alignment between business and service innovation strategy on service innovation performance. In Industrial Engineering, Management Science and Application (ICIMSA), 2016 International Conference on (pp. 1-5). IEEE.

Laudon, K. C., & Laudon, J. P. (2016). Management information system. Pearson Education India.

Mohanty, S. P., Choppali, U., & Kougianos, E. (2016). Everything you wanted to know about smart cities: The internet of things is the backbone. IEEE Consumer Electronics Magazine, 5(3), 60-70.

Palattella, M. R., Dohler, M., Grieco, A., Rizzo, G., Torsner, J., Engel, T., & Ladid, L. (2016). Internet of things in the 5G era: Enablers, architecture, and business models. IEEE Journal on Selected Areas in Communications, 34(3), 510-527.

Tayeh, M., Al-Jarrah, I. M., & Tarhini, A. (2015). Accounting vs. market-based measures of firm performance related to information technology investments. International Review of Social Sciences and Humanities, 9(1), 129-145.

Tsai, W. H., Hsieh, C. L., Wang, C. W., Chen, C. T., & Li, W. H. (2015, December). The impact of IT management process of COBIT 5 on internal control, information quality, and business value. In Industrial Engineering and Engineering Management (IEEM), 2015 IEEE International Conference on (pp. 631-634). IEEE.

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Wu, S. P. J., Straub, D. W., & Liang, T. P. (2015). How information technology governance mechanisms and strategic alignment influence organizational performance: Insights from a matched survey of business and IT managers. Mis Quarterly, 39(2), 497-518.