Artificial Intelligence in Corporate Business and Financial Management: A Performance Analysis from Pakistan

This paper attempts to explore many signs of progress enabled by Artificial Intelligence (AI) in financial and corporate business management. It also amid to identify the benefits and cons of AI applications in social life. A systematic content analysis approach has been used to demonstrate the developmental phases of AI. Four distinct organizational maturity clusters i.e. Pioneers, Investigators, Experimenters, and Passives have been developed on basis of dataset. Data collections was carried through emails, customizable chatbots, live chat softwares and automated helpers of top ten online companies and various banking and financial institutions located in Lahore and Karachi cities for making behavioral analysis. The data results revealed that all aspects of financial managements and corporate business activities have been highly influenced by the application of AI. The study demonstrated that 80% senior business executives were of view that AI boost productivity and creates new business avenues. The results also demonstrated that 88% Pioneer organizations have understand and adopted AI techniques according to organization requirements, 82% Investigator organizations are not using it beyond the pilot stage whereas 24% Experimental organizations were adopting AI without understanding it. These results seem to reflect that AI has profound effects on financial industry to streamline its credit decisions from quantitative trading to financial risk management and fraud detection. This study also discovered that the widespread use of AI have raised a number of ethical, moral and legal challenges that are yet to be addressed. Although AI is gaining popularity day by day and it is believed that AI will improve work performance beyond human standards but it could not replace human resources fully

Evaluation of Systematic Monetary Influences in Pakistan’s Perspective

Traditional macroeconomic theories establish relationship among certain macroeconomic variables based on assumptions of perfect competition and resulting flexible prices. Theories based on these assumptions might not hold for developing economies due to imperfect market structure and fragile financial institutions. This study attempts to analyze the quantity theory of money (QTM) and Phillips curve (PC) relationship from long-run perspective for economy of Pakistan. QTM relates complete absorption of money growth effect into inflation, and PC establishes negative relationship between inflation and unemployment. In the long-run, money is assumed to have only inflationary or nominal effect. Therefore, presence of any long-run tradeoff between inflation and unemployment, once inflations is a pure monetary phenomenon in the long-run, cast serious doubts regarding long-run neutrality of money. Autoregressive distributed lag (ARDL) modelling approach is opted to analyze long-run impact of money growth on inflation, and long-run effect of inflation on unemployment. The long-run relationship between inflation and unemployment is statistically insignificant for economy of Pakistan. Furthermore, results of this study show that inflation, even in the long-run, does not adjust as theorized in QTM

Economic Interactions among Stock Market Performance and Macroeconomic Variables with Mediating Role of Gold Prices Volatilities: An Evidence from Pakistan

In all emerging economies, one of the most challenging issues for investors is the multifaceted inter-relationship between volatility of gold prices and stock market index. During the COVID-19 sub-periods, gold has shown a strong hedging behavior against stock market performance. The main objective of this study was to quantify the long-run relationship among multiple independent macroeconomic variables (predictors) on stock market index (response variable) using the volatilities of gold prices as a mediator factor. This study applied the descriptive statistics, correlation, t-test and OLS multiple regression Model. The specific data comprised of period 2011-2020 regarding the fluctuations in gold prices, exchange rate, interest rate, inflation rate and performance of stock market index has been utilized. The statistical outputs of models showed that exchange rate (Dollar to PKR) was positively affecting the performance of Karachi Stock Exchange (KSE)-100 Index, whereas inflation rate and interest rate were negatively affecting the overall performance of KSE100 index. The findings of this study suggested that to achieve better performance of stock market, relatively low interest rate and inflation rate contribute a significant role. However, to increase the generalization capabilities of this study the impact of mentioned macroeconomic variables in other sectors like industrial production, oil & gas and energy sectors with wider time span can be more helpful

Treatment of advance keratoconus using donor bowman layer: the zaman technique of bowman layer transplantation (Type I & Type II)

Commonly referred to as an ecstatic, non-inflammatory disease, Keratoconus, usually bilateral and asymmetric, is characterized by progressive steeping and thinning of the cornea. This results in irregular astigmatism which compromises vision [1,2]. Traditionally, early Keratoconus stages have been treated by prescribing a hard contact lens to obtain a regular anterior optical surface. This tendency was discontinued when contact lens intolerance in advanced stages required the use of penetrating keratoplasty (PKP) or deep anterior lamellar Keratoplasty (DALK). An alternative technique of corneal cross-linking was designed in 2003 as a treatment option for keratoconus. The cornea measured at least 400 um thickness after epithelium removal and pre-operative maximum keratometry (Kmax) measured 58D or less. As a result, no corneal transplantation was required or postponed [3]

Comparison of transepithelial corneal crosslinking with epithelium-off crosslinking (epithelium-off CXL) in adult Pakistani population with progressive keratoconus

PURPOSE: The purpose of this study is to compare the safety and efficacy of transepithelial corneal crosslinking (CXL) with epithelium-off crosslinking (epithelium-off CXL) in the treatment of progressive keratoconus in adult Pakistani population. MATERIALS AND METHODS: Sixty-four eyes of 64 consecutive patients of progressive keratoconus were included in this quasi-experimental study. Thirty-two eyes received transepithelial CXL with Peschke TE (0.25% riboflavin (Vitamin B2), 1.2% hydroxypropyl methylcellulose (HPMC), 0.01% benzalkonium chloride) and 32 eyes received epithelium-off CXL with Peschke M (0.1% riboflavin (Vitamin B2) 0.1%, HPMC 1.1%.) The cornea was then exposed to ultraviolet A light at an irradiance of 3 mW/cm2 for 30 min. The primary outcome measure, clinical stabilization of keratoconus was defined as an increase of no more than 1D in Kmaxat 1 year. Other parameters evaluated at baseline and 3, 6, 12, and 18 months postoperatively were uncorrected distance visual acuity (UDVA), corrected distance visual acuity (CDVA), spherical equivalent (SE), astigmatism (Ast), simulated keratometry, steep keratmetry (steep K), and corneal thickness at thinnest point (pachy thin). RESULTS: Both epithelium-off CXL and transepithelial CXL groups showed a significant reduction in Kmax, steep K, simulated K, corneal pachymetry at all test points (P < 0.05) with significantly greater reductions achieved in epithelium-off CXL group at 18 months follow-up. The mean UDVA, CDVA, SE, Ast significantly improved in both groups (P < 0.05). The mean postoperative UDVA and CDVA between the groups were not significant at 12 months (P = 0.650, 0.018, respectively). Clinical stabilization was achieved in 94% of eyes in epithelium-off CXL and 75% of eyes in transepithelial CXL. In epithelium-off CXL, three eyes exhibited stromal haze resolved by corticosteroid treatment. No complication was documented in transepithelial CXL group. CONCLUSION: Transepithelial CXL is not recommended to be replaced completely by standard epithelium-off CXL due to continued ectatic progression in 25% of cases. However, thin corneas, unfit for standard epithelium-off CXL, can benefit from transepithelial CXL

Synergy of high permeability and selectivity of superbase/choline chloride/urea solution impregnated membranes for CO₂ capture

A new generation of solvents called ternary deep eutectic solvents have emerged as a promising candidate to replace ionic liquids (IL) in CO2 capturing due to its inherent advantages of both, superbase and deep eutectic solvents (DES). In this work, the binary and ternary DES were synthesized to investigate the effect of superbase on the performance of DES based membrane systems for acid gas capture. The reline DES system was chosen as binary DES and 1,8-diazabicyclo[5.4.0]undec-7-ene (DBU) was used as superbase. The ternary DES was prepared by mixing DBU in reline DES system in different molar ratios. The permeability and selectivity of the synthesized membrane for CO2, CH4, and N2 were investigated in pure and mixed gas experiments. Moreover, the effect of the DES molar ratio, operating conditions of feed on the DES based supported liquid membranes (SLMs) performance was studied comprehensively. These novel ternary DES SLMs showed significant permeability and selectivity values up to 38.12 Barrer and 58.65 respectively. These values were found to be significantly higher than the permeability and selectivity value of binary DES-SLM i.e. 31 Barrer and 51.67 respectively. The improved gas performance results of ternary DES can be attributed to the basicity and fast reaction kinetics of the superbase/DBU. The ternary DES can potentially alternate the ILs and commonly used binary DESs in CO2 capturing process due to their high affinity towards CO2 gas.</p

Novel ZnO:Ag nanocomposites induce significant oxidative stress in human fibroblast malignant melanoma (Ht144) cells

The use of photoactive nanoparticles (NPs) such as zinc oxide (ZnO) and its nanocomposites has become a promising anticancer strategy. However, ZnO has a low photocatalytic decomposition rate and the incorporation of metal ions such as silver (Ag) improves their activity. Here different formulations of ZnO:Ag (1, 3, 5, 10, 20 and 30% Ag) were synthesized by a simple co-precipitation method and characterized by powder X-ray diffraction, scanning electron microscopy, Rutherford back scattering and diffuse reflectance spectroscopy for their structure, morphology, composition and optical band gap. The NPs were investigated with regard to their different photocatalytic cytotoxic effects in human malignant melanoma (HT144) and normal (HCEC) cells. The ZnO:Ag nanocomposites killed cancer cells more efficiently than normal cells under daylight exposure. Nanocomposites having higher Ag content (10, 20 and 30%) were more toxic compared to low Ag content (1, 3 and 5%). For HT144, under daylight exposure, the IC50 values were ZnO:Ag (10%): 23.37 μg/mL, ZnO:Ag (20%): 19.95 μg/mL, and ZnO:Ag (30%): 15.78 μg/mL. ZnO:Ag (30%) was toxic to HT144 (IC50: 23.34 μg/mL) in dark as well. The three nanocomposites were further analyzed with regard to their ability to generate reactive oxygen species (ROS) and induce lipid peroxidation. The particles led to an increase in levels of ROS at cytotoxic concentrations, but only HT144 showed strongly induced MDA level. Finally, NPs were investigated for the ROS species they generated in vitro. A highly significant increase of 1O2 in the samples exposed to daylight was observed. Hydroxyl radical species, HO•, were also generated to a lesser extent. Thus, the incorporation of Ag into ZnO NPs significantly improves their photo-oxidation capabilities. ZnO:Ag nanocomposites could provide a new therapeutic option to selectively target cancer cells

Foliar Application of Potassium Mitigates Salinity Stress Conditions in Spinach (<i>Spinacia oleracea</i> L.) through Reducing NaCl Toxicity and Enhancing the Activity of Antioxidant Enzymes

Agronomic biofortification is the purposeful utilization of mineral fertilizers to increase the concentration of desired minerals in edible plant parts for enhancing their dietary intake. It is becoming crucial to enhance the dietary intake of K for addressing hidden hunger and related health issues such as cardiac diseases and hypertension. This study was designed to enhance the potassium concentration in edible parts of spinach through its foliar application under saline environment. The salinity levels of electrical conductivity (EC) = 4, 6, and 8 dS m−1 were applied using sodium chloride (NaCl) along with control. The levels of K for foliar sprays were 5 and 10 mM, along with control. The present experiment was performed under two factorial arrangements in a completely randomized design (CRD). After 60 days of sowing, the crop was harvested. Data regarding growth, ionic, physiological, and biochemical parameters, i.e., shoot dry weight, relative water content, electrolyte leakage, total chlorophyll content, tissue sodium (Na) and K concentration, activities of superoxide dismutase (SOD), and catalase (CAT) were recorded and those were found to be significantly (p ≤ 0.05) affected by foliar application of K on spinach under saline conditions. The highest growth, physiological and biochemical responses of spinach were observed in response to foliar-applied K at 10 mM. It is concluded that agronomic bio-fortification by foliar use of K can be a useful strategy to increase tissue K intakes and minimize Na toxicity in the vegetables studied under saline conditions

Texture of the nano-crystalline AlN thin films and the growth conditions in DC magnetron sputtering

DC reactive magnetron sputtering technique has been used for the preparation of AlN thin films. The deposition temperature and the flow ratio of N2/Ar were varied and subsequent dependency of the films crystallites orientation/texture has been addressed. In general, deposited films were found hexagonal polycrystalline with a (002) preferred orientation. The X-ray diffraction (XRD) data revealed that the film crystallinity improves, with the increase of substrate temperature from 300 °C to 500 °C. The dropped in full width half maximum (FWHM) of the XRD rocking curve value further confirmed it. However, increasing substrate temperature above 500 °C or reducing the nitrogen condition (from 60 to 30% in the environment) induced the growth of crystallites with (102) and (103) orientations. The rise of rocking curve FWHM for the corresponding conditions depicted that the films texture quality deteriorated. A further confirmation of the variation in film texture/orentation with the growth conditions has been obtained from the variation in FWHM values of a dominant E1 (TO) mode in the Fourier transform infrared (FTIR) spectra and the E2 (high) mode in Raman spectra. We have correlated the columnar structure in AFM surface analyses with the (002) or c-axis orientation as well. Spectroscopic ellipsometry of the samples have shown a higher refractive index at 500 °C growth temperature