Artificial Intelligence (AI) is applied to product demand, employee turnover, cash flow, distribution requirements, manpower forecasting, and inventory aspects of business operations.
What is AI? It is a computer-based analytical process that exhibits behavior and actions that are considered “intelligent” by human observers. It attempts to mimic the human thought process including reasoning and optimization.
Forecasting generally uses three common types of AI:
Neural Nets emulate elements of the human cognitive process, the ability to recognize patterns.
Expert Systems summarize the totality of available knowledge and rules.
Belief Networks describe the database structure using a tree format.
Banks use AI systems to organize operations, invest in stocks, and manage properties; hospitals can organize bed schedules, make a staff rotation, and provide medical information; and heavy industry plants use it to complete jobs that may be too dangerous for humans.
Artificial Intelligence is developed and used in many ways to assist businesses in their day-to-day operations. Everyday and new develop is being made to make productivity faster and less time consuming. It is also used in security, which makes it harder for certain security measures very hard to penetrate.
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