National University of Ireland, Dublin

Bachelor of Business Studies (Honours) (Finance) (Top-up)

Intake FT UCD BBS 38
Group: A

Module: Digital Business

Essay Title: Soft Archery Analyses

Submitted by: Liu Yulin

Student Number: 22209539

Lecturer: Jason Tan

Submission Due Date: 03/01/2023

Word Count: 1611

 Soft Archery Analyses

1.0 Introduction

As mentioned before, there are several challenges or barriers for Soft Archery to solve. For
example, there will be financial losses for investing in AI which is used to identify trends, the raw
and massive data can be a big problem to translate for management which is used to maximizes
skills of employees, and customer always worry about their private information while using the
mobile application of IoT from Soft Archery. In this passage, the solutions will be introduced and
pinpointed and applied to these challenges.

2.0 AI-First Technology Application for Soft Archery

2.1 Potential Technological Challenge

First of all, The potential technology challenge of AI is dramatic. Although the benefits of
AI are apparent, there are also several drawbacks. Some companies succeed in investing in AI
technology. The financial success of these organizations must have been influenced in some way
by the investment made in AI, but a definitive link between the two could not be established
because there may be other factors at play (Soni et al., 2019). A survey done in previous years
showed that even if Google gained profits from investing in AI technology, Google company still
did not get the inside relationship between the investment and profit. The graphic showed that
during 2010-2017, the profit increased, but from 2017-2018, it was a great decline from 1 million
in revenue to 0.5 million in revenue. There hasn't been any return on investment for AI yet. The
quality of life for employees, organizational productivity and performance, or the efficient
operation of societies have not yet been significantly improved. Although technology is capable of
achieving all of these things, reengineering organizational structures, cultural norms, algorithms,
and data investments is preventing it from having the impact it might (Davenport, n.d.).

2.2 Potential Solution

In order not to create such a situation, Soft Archery needs to know how to manage the
potential risk of AI. There is a way to control the risk by three steps: Clarity, Breadth and Nuance.
Clarity means identifying the most important risks and using a systematic identification process.
Breadth states that establishing strong corporate controls and Nuance states that depending on the
kind of risk, strengthen particular controls. These approaches incorporated inputs such as an
objective assessment of the company's current risks and how those risks may be made worse by
the AI-driven analytics initiatives under consideration, as well as new hazards that AI enablers or
the AI itself may introduce (Cheatham, Javanmardian and Samandari, 2019). In this way, Soft
Archery can consider the risks faced by the company by level. In this way, the management of
Soft Archery can know the riskiest situation or development. Therefore, they can invest less
money into for example AI or other technology. There is still much to learn about the possible
hazards that businesses, people, and society might encounter due to AI, about striking the right
balance between innovation and risk, and about putting controls in place for managing the
unthinkable. Banks, insurance businesses, and investment management organizations stand to save
more than $1.0 trillion by 2030 if they integrate methodical investment in AI technology into their
business models, according to Autonomous Next's 2018 Machine Intelligence projection (Makada
Henry-Nickie, 2019). In this way, not only insurance companies can gain profits and sales but also
Soft Archery can avoid risks from investing in AI.

3.0 Big Data-Second Technology Application for Soft Archery

3.1 Potential Technological Challenge

As more and more data are collected by Soft Archery, managing data can be a hard
challenge for managers. Data can be categorized into either semi-structured, structured or
unstructured classes. Apart from structured data, the semi-structured and unstructured class cannot
be presented in an as formal way, for example, Applications like CRM (Customer Relationship
Management), enterprises, etc. can create structured data in the form of a schema with rows and
columns. Semi-structured and unstructured data are the main form of Soft Archery. These data
include internet security systems, text, audio, video and web feeds. 95% of data is provided in raw
form (not in any form), which presents various difficulties for organizations and corporations
(Rawat and Yadav 2021). Big data is characterized by its diversity and volume and is produced
quickly without any way to verify the accuracy of the data uploaded. Because of this, the old
systems are unable to store and process this enormous amount of data (Rawat and Yadav 2021).
Therefore, it is an awful situation that Soft Archery is facing.

3.2 Potential Solution

The current task for Soft Archery to deal with is unstructured data which is the largest
number of data that Soft Archery are collected. Datasets without a preset structure are referred to
as unstructured data. Unstructured data can include non-textual, such as photos, video, and audio,
although it is often text-based, like open-ended survey replies and social media chats
(MonkeyLearn, n.d.). There is a way to tackle this problem. Due to the massive quantity of
duplicate data that businesses produce, according to a 2013 IDC report, businesses pay $44 billion
a year just to keep duplicates of their existing data. It's possible that since then, things have only
gotten worse. In-line, high-speed deduplication can identify duplicate entries and either keep them
for review or automatically remove them. While savings when adopting this strategy vary, two-
thirds of the businesses in an Enterprise Strategy Group survey that TechTarget provided saw a
storage space decrease of more than 10 times (www.ironmountain.com, 2020). The majority of
data is often not mission-critical enough to require quick access on a pricey storage medium. The
majority of data can be restricted to tape or spinning disks. According to rules, data is
automatically assigned to the best storage medium by tier storage, which frequently leads to
considerable cost savings. According to Horizon Information Strategies, 63% to 85% of the data
in a typical firm may be transferred to secondary or long-term storage without harming business
operations. If Soft Archery isn't transferring seldom-used data from disk to tape or from the cloud
to tape, Soft Archery should give this affordable archiving solution another look
(www.ironmountain.com, 2020).

4.0 Iot -Third Technology Application for Soft Archery

4.1 Potential Technology Challenge

Soft Archery uses IoT to collect members’ information during class. This requires
members to provide personal information to register. There is one thing that has to be considered
is privacy. The perceived privacy and security issue is a significant barrier to the development of
IoT-based products. According to a Fortinet (2014) survey, 69% of those surveyed were either
extremely or somewhat concerned that a connected appliance could result in a data breach or
expose sensitive personal information. The majority of respondents also valued privacy and did
not trust how connected devices used their data (Klopper, 2016). Customers will not register for
the mobile application unless Soft Archery can guarantee their private information is safe. Setting
up precise privacy regulations for IoT exploitation is challenging because of the disparity in
societal standards and expectations when it comes to privacy. If all the members are worried about
their privacy and not willing to register for a Soft Archery account, IoT application cannot be
feasible for a long time.

4.2 Potential Solution

Soft Archery should try to eliminate the worries from customers’ hearts and set solutions
to make IoT fitter with the situation of Soft Archery. Soft Archery can solve this problem by using
IoT security analytics which was called Endpoint Detection and Response system (EDR). By
gathering and analyzing data from many sources, security analytics assist security teams in
identifying and preventing possible risks. Additionally, by combining information from several
domains, security analytics can spot harmful abnormalities in network traffic. Security teams can
address these abnormalities and stop them from adversely affecting linked devices thanks to the
correlation (Maayan, 2022). In this way, Soft Archery management can create an IoT security
team to detect the risks, for example, stealing private information or attacking the mobile
application, therefore, it can ensure the safety of private information of customers. ERD is another
method to help the security team to detect potential risks. IoT devises stream data continuously,
thus every second you are not in charge of them, you are losing data. You can prevent losing this
data and spot threats in real time with the use of EDR technology. With real-time visibility and
alerting, EDR enables security professionals to swiftly spot malicious activities and get direct
access to devices.The capacity of EDR to automatically prohibit suspicious behaviour in real time
is another important feature. Even if human security professionals are unable to react promptly to
the occurrence, EDR solutions use threat intelligence to recognize suspicious activity on an IoT
device and execute an appropriate reaction (Maayan, 2022). Programming codes are an excellent
solution for IoT privacy concerns, and for this, certain service providers, like Chakray, provide
100% dependable, scalable, and modular solutions that: Take full use of the managed IoT by
combining and safeguarding mobile apps. assemble cutting-edge IoT analytical solutions. No
matter the size, every company's assets may be connected to and managed digitally (Chakray,
2019). Soft Archery can learn from Charkray to code this information so that customers can no
longer worry about their privacy.

5.0 Conclusion
In this passage, several solutions are mentioned to address these challenges. For example,
to deal with the investment drawback of AI, management can analyse the future of investing,
whether is feasible or not. Secondly, for Big data, the massive and unstructured data can be
transformed and stored into tape or other places to save time in analysing useful ones. Finally, IoT
and EDR are perfect ways to help the security team to detect an attack and react immediately.
 6.0 Reference List
Soni, N., Sharma, E., Singh, N. and Kapoor, A. (2019). Impact of Artificial Intelligence on Businesses:
from Research, Innovation, Market Deployment to Future Shifts in Business Models 1. [online] Available
at: https://arxiv.org/ftp/arxiv/papers/1905/1905.02092.pdf.[Accessed 23 Dec. 2022]

Davenport, T. (n.d.). Return On Artificial Intelligence: The Challenge And The Opportunity. [online]
Forbes. Available at: https://www.forbes.com/sites/tomdavenport/2020/03/27/return-on-artificial-
intelligence-the-challenge-and-the-opportunity/?sh=14c53cc36f7c [Accessed 23 Dec. 2022].

Cheatham, B., Javanmardian, K. and Samandari, H. (2019). Confronting AI risks | McKinsey. [online]
www.mckinsey.com. Available at:
https://www.mckinsey.com/capabilities/quantumblack/our-insights/confronting-the-risks-of-artificial-
intelligence.[Accessed 23 Dec. 2022]

Rawat, R. and Yadav, R. (2021). Big Data: Big Data Analysis, Issues and Challenges and
Technologies. IOP Conference Series: Materials Science and Engineering, 1022, p.012014.
doi:10.1088/1757-899x/1022/1/012014.[Accessed 23 Dec. 2022]

MonkeyLearn. (n.d.). What Is Unstructured Data & How Can You Analyze It? [online] Available at:
https://monkeylearn.com/unstructured-data/.[Accessed 23 Dec. 2022]

www.ironmountain.com. (2020). 4 Ways to Deal With Unstructured Data. [online] Available at:
https://www.ironmountain.com/blogs/2020/4-ways-to-deal-with-unstructured-data.[Accessed 23 Dec.
2022]

Makada Henry-Nickie (2019). How artificial intelligence affects financial consumers. [online] Brookings.
Available at: https://www.brookings.edu/research/how-artificial-intelligence-affects-financial-
consumers/. [Accessed 23 Dec. 2022]

‌Klopper, D. (2016). The Possibilities and Challenges of the Application and Integration of the Internet of
Things for Future Marketing Practice. [online] Available at:
https://essay.utwente.nl/70815/1/Klopper_BA_IBA.pdf. [Accessed 23 Dec. 2022]

Maayan, G.D. (2022). 5 Top IoT Security Challenges and Solutions. [online] Security Boulevard.
Available at: https://securityboulevard.com/2022/05/5-top-iot-security-challenges-and-solutions/.
[Accessed 23 Dec. 2022]
Chakray. (2019). Privacy in IoT: Things to keep in mind. [online] Available at:
https://www.chakray.com/privacy-in-iot/. [Accessed 23 Dec. 2022]
7.0 Plagiarism Certification

I declare that all materials included in this essay/report/project/dissertation is the end result of my own
work and that due acknowledgement have been given in the bibliography and references to ALL sources
be they printed, electronic or personal.
Signed: Liu Yulin 22209539
Date 23/12/2022

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