...http://www.slideshare.net/ajaysuman/artificial-intelligence-in-business ARTIFICIAL INTELLIGENCE IN BUSINESS Introduction Business applications utilize the specific technologies mentioned earlier to try and make better sense of potentially enormous variability (for example, unknown patterns/relationships in sales data, customer buying habits, and so on). However, within the corporate world, AI is widely used for complex problem-solving and decision-support techniques in real-time business applications. The business applicability of AI techniques is spread across functions ranging from finance management to forecasting and production. In the fiercely competitive and dynamic market scenario, decision-making has become fairly complex and latency is inherent in many processes. In addition, the amount of data to be analyzed has increased substantially. AI technologies help enterprises reduce latency in making business decisions, minimize fraud and enhance revenue opportunities. Definition of AI AI is a broad discipline that promises to simulate numerous innate human skills such as automatic programming, case-based reasoning, neural networks, decision-making, expert systems, natural language processing, pattern recognition and speech recognition etc. AI technologies bring more complex data-analysis features to existing applications. There are many definitions that attempt to explain what Artificial Intelligence (AI) is. I like to think of AI as a science that investigates...
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...SCM Research paper | Shreerang Datar Supply Chain Management (SCHM 6210) Spring 2016 RESEARCH PAPER “ARTIFICIAL INTELLIGENCE IN SUPPLY CHAIN MANAGEMENT” By Shreerang Datar (NUID 001649801) 04/14/2016 1 SCM Research paper | Shreerang Datar Table of Contents 1. Executive Summary……………………………………………………3 2. Introduction…………………………………………………………….4 3. Background…………………………………………………………….5 4. Findings………………………………………………………………...6 a. Artificial Intelligence Tools……………………………………..7 b. Business Examples…………………………………………….10 5. Future Trends and Challenges………………………………………...18 6. Conclusion……………………………………………………………19 7. Bibliography…………………………………………………………..20 2 SCM Research paper | Shreerang Datar Executive Summary: Surpassing the limits of business intelligence, artificial intelligence (AI) focuses on developing an algorithmic approach in decision making. This technology has come so far that inculcating human competencies like logic, reasoning, simulation and analytical thinking in a machine seems to be in reach. In the field of Supply Chain Management this technology is placing a strong foot in achieving creative optimization and automation in different supply chain processes. AI has found its applications in various SCM aspects which include Inventory management, Network design optimization, Logistics strategy formulation, demand forecasting, etc. It is designed to generate a step-wise mechanism for problem solving in which it defines the problem...
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...ARTIFICIAL INTELLIGENCE IN BUSINESS. Artificial Intelligence In Business * Artificial Intelligence is a field of science and technology based on disciplines such as computer science, biology, psychology, linguistics, mathematics and engineering. * The goal of AI is to develop computers that can simulate the ability to think ,as well as , hear , walk , talk and feel. * Artificial intelligence technologies are being used in a variety of ways to improve the decision support provided to managers and business professionals in many companies. * Artificial Intelligence enabled applications are at work in * Information distribution and retrieval * Database mining * Product design * Manufacturing inspection * Training * User support * Surgical Planning * Resource scheduling * Complex resource management * A major thrust of Artificial Intelligence is the simulation of computer functions normally associated with human intelligence such as reasoning, learning and problem solving etc. * In 1950 Alan Turing, British Artificial Intelligence pioneer proposed a test to determine whether machines could think. According to Turing test, a computer could demonstrate intelligence if a human interviewer, conversing with an unseen human and an unseen computer could not tell which was which. * Critics believe that no computer can truly pass the Turing test. They claim that it is not possible to develop intelligence to impart true humanlike...
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...field known as Artificial Intelligence. This field is concerned with the development of computer intelligence. The goal of Artificial Intelligence is to develop computers that can think, as well as see, hear, walk, talk and feel. A major thrust of Artificial Intelligence is the development of computer functions normally associated with human intelligence, such as reasoning, learning and problem solving. Advances in computer processing power open the way for wider use of so-called Artificial Intelligence, at the same time that the self-serve aspect of online processes has increased the need for systems that "think." As time goes on and as patterns change, the computer learns because it is constantly being given cause and effect. The Expert System Expert System Development Financial Decision Making The financial services industry has become a vigorous user of Expert System techniques. With their high level of accuracy and reliability, Expert Systems easily replace complex human decision-making. This is done with the help of their expert knowledge-bases into which data and logical reasoning are inputted. Expert Systems technology is normally introduced to bring consistency to the decision-making process, as well as to speed it up through semi-automation. Expert systems are increasingly being used in banking applications. Some of the areas where this technology is being applied are credit risk analysis, portfolio management and analysis...
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...operational processing * —Sales orders, accounts receivable, etc * —Supported by operational databases & DBMSs * •Online analytical processing (OLAP) manipulation of information to support decision making * —Helps build business intelligence * —Supported by data warehouses and data-mining tools RELATIONAL DATABASE MODEL: Database – collection of information that you organize and access according to the logical structure of the information Relational database – series of logically related two-dimensional tables or files for storing information * —Relation = table = file * —Most popular database model DATABASE- CREATED WITH LOGICAL STRUCTURES Data dictionary – contains the logical structure for the information in a database Primary key – field (or group of fields) that uniquely describes each record Foreign key – primary key of one file that appears in another file Integrity constraints – rules that help ensure the quality of information Data dictionary, for example, defines type of information – numeric, date, and so on Foreign keys – must be found as primary keys in another file * —E.G., a Customer Number in the Order Table must also be present in the Customer Table Database management system (DBMS) helps you specify the logical requirements for a database and access and use the information in a database 5 CONCEPTS OF DBMS 1.DBMS engine 2.Data definition subsystem 3.Data manipulation subsystem 4.Application generation...
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...obr11544_ch10_359-411 9/8/06 11:33 AM REAL WORLD CASE F Page 386 2 Harrah’s Entertainment, LendingTree, DeepGreen Financial, and Cisco Systems: Successes and Challenges of Automated Decision Making or over half a century, the field of artificial intelligence (AI) has promised that computers would relieve managers and professionals of the need to make certain types of decisions. Computer programs would analyze data and make sound judgments whether it be to configure a complex computer, diagnose and treat a patient’s illness, or determine when to stir a big vat of soup with little or no human help. But automated decision making has been slow to materialize. Many early artificial intelligence applications were just solutions looking for problems, contributing little to improved organizational performance. In medicine, for example, doctors showed little interest in having machines diagnose their patients’ diseases. In the business sector, even when expert systems were directed at real issues, extracting the right kind of specialized knowledge from seasoned decision makers and maintaining it over time proved to be more difficult than anticipated. But now, automated decision making is finally coming of age. The new generation of applications, however, differs from prior AI-based decision support systems in several important respects. To begin with, the new systems are easier to create and manage than earlier ones, which leaned heavily on ...
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...into their business model. A DSS is a “highly flexible and interactive IT system that is designed to support decision making when the problem is not structured.” (Haag, Cummins p.162) Managers require information to guide their organization in the right direction. DSS increases productivity, efficiency, and enhances understanding of business processes. DSS helped carve their business success, facilitate management making qualitative decisions, and turned their raw data into valued information that was needed by employees and management. DSS assist the management and employees of Frito-Lay by delivering statistical and data retrieving systems. Employees of Frito-Lay also used DSS systems in searching information that was germane to their job function. The three main components of a DSS are model management, data management and interface management. “The model requests the information from the data management component, analyzes the information, and sends the results to the user interface management component, which in turn passes the results back,” (Haag, Cummins p.163) to the user. There are many types of DSS systems and hybrid DSS systems. Four DSS systems that could be implemented in a business are communication driven, knowledge driven , data driven , and document driven . Hybrid DSS systems are computerized systems that take advantage of combined DSS systems. A DSS may present information graphically and may include an expert system or artificial intelligence (AI). Examples...
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...Business Information Systems Learning Outcomes Week 5 DECISION-MAKING SYSTEMS 1. Explain the importance of decision making for managers at each of the three primary organisation levels, along with the associated decision characteristics. * Meaning of decision making * Decision making is a process of selecting the best among the different alternatives. It is the act of making a choice. There are so many alternatives found in the organization and departments. Decision making is defined as the selection of choice of one best alternative. Before making decisions all alternatives should be evaluated from which advantages and disadvantages are known. It helps to make the best decisions. It is also one of the important functions of management. Without other management functions such as planning, Organizing, directing, controlling, staffing can’t be conducted because in this managerial function decision is very important. According to Stephen P. Robbins, “decision making is defines as the selection of a preferred course of action from two or more alternatives.” * Importance of decision making * Implementation of managerial function: Without decision making different managerial function such as planning, organizing, directing, controlling, staffing can’t be conducted. In other words, when an employee does, s/he does the work through decision making function. Therefore, we can say that decision is important element...
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...Faith Brown September 9, 2014 Artificial Intelligence is something that has been around for quite some time. It is simply the science of making machine imitate human thinking and behavior. There are many types of businesses and organizations that use artificial intelligence. Many of them are government organizations but are not limited to hospitals and local businesses. Artificial intelligence can be used for the simplest of things like counting inventory or to the more complex of things such as reading electrocardiograms. With artificial intelligence, we have been able to reduce the time that it takes an actual human to do something. These systems are in place so that we spend more time on the more critical things. There are four types of artificial intelligence. The four types are expert systems, neural networks (and fuzzy logic), genetic algorithms, and agent-based technologies. All of the these systems have their benefits as well as their not so good features. For starters, we will examine expert systems. Expert systems, which is also referred to as knowledge-based systems, is an artificial intelligence system that applies reasoning capabilities to reach a conclusion. These systems are used for diagnosing problems. They also help with coming up with a solution to the problem. These systems are built for a specific domain that they will be ran on. The knowledge base for these systems contain both factual and heuristic knowledge. This means that the factual information could...
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...IT190-1502B-10 Introduction to IT Introduction to IT Document Shell Shamika Herrington May 25, 2015 Table of Contents Section 1: Information Systems Overview 3 MDHS: Program Selection and Job Functions 3 Job Functions 4 Section 2: Information Systems Concepts 6 Networks: WAN and LAN 6 Wi-Fi, Telecommuting, and Associated Issues 7 Section 3: Business Information Systems 9 Management Information Systems 9 Transaction Processing Systems 10 Decision Support Systems and Artificial Intelligence 11 Transforming Data to Information and Information to Knowledge 11 Section 4: System Development 13 Waterfall Model 13 Prototype Model 14 Section5: Information Systems and Society 15 Approaches Hackers Use to Steal Data 15 Preventing Hackers From Stealing Data 16 References 18 Section 1: Information Systems Overview MDHS: Program Selection and Job Functions The Mississippi Department of Human Services is an organization whose sole purpose is to assist and serve the residents of Mississippi. The services range from offering nutrition assistance through Supplemental Nutrition Assistance Program (SNAP) and employment assistance through the Temporary Assistance for Needy Families (TANF) to offering support for families and children. There are many different programs that are offered through programs in specific departments. Each department uses specific computer resources to assist the clients within their respective counties. It is important...
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...made useful to support a specific task or reach a decision. Answer Knowledge Telecommunication Artificial intelligence MIS Add Question Here Question 25 Multiple Choice 0 points Modify Remove Question A(n) ____ is a set of elements or components that interact to accomplish goals. Answer process network system intranet Add Question Here Question 26 Multiple Choice 0 points Modify Remove Question ____ is a measure of what is produced divided by what is consumed. Answer Efficiency Effectiveness Telecommunication Feedback Add Question Here Question 27 Multiple Choice 0 points Modify Remove Question ____ is a measure of the extent to which a system achieves its goals. Answer Efficiency Feedback Telecommunication Effectiveness Add Question Here Question 28 Multiple Choice 0 points Modify Remove Question In information systems, ____ is information from the system that is used to make changes to input or processing activities. Answer data feedback artificial intelligence virtual reality Add Question Here Question 29 Multiple Choice 0 points Modify Remove Question A ____ is a single set of hardware, software, databases, telecommunications, people, and procedures that are configured to collect, manipulate, store, and process data into information. Answer transaction firewall computer-based information system knowledge management system Add Question Here Question 30 Multiple Choice 0 points Modify Remove Question A firm’s ____...
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...Polyphonic HMI: Mixing Music and Math So few songs actually become hits—Las Vegas gives you better odds than the music industry! You might as well just put a million dollars on red and spin the wheel . . . — Ric Wake, Independent Music Producer In late 2003, the management team of Barcelona-based Polyphonic HMI was preparing to launch an artificial intelligence tool that they believed had the potential to create tremendous value for the music industry. The technology, referred to as Hit Song Science (HSS), analyzed the mathematical characteristics of music (by isolating aspects such as melody, tempo, pitch, rhythm, and chord progression) and compared them with characteristics of past music hits, making it possible to determine a song’s hit potential. Mike McCready, the CEO of Polyphonic, explained: The music industry has always used two criteria to determine if a song will be a success. One is that it sounds like a hit. They have professionals at the music labels who are paid to determine if a song sounds like a hit. And two is that they have an idea how they can bring the artist and the song to the market. The problem is that the industry has about a 10% success rate: only one in 10 songs that get promoted ever charts. We add a third criterion—that it has to have optimal mathematical patterns—and significantly increase success rates. “This piece of technology is truly special,” he raved. “In one of our early tests, HSS generated unusually high...
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... An excitement and passion for working with trading systems. 13 years of direct experience in creating and implementing real-time, multithreaded signal processing applications using statistical and numerical calculus algorithms. Experience with designing and implementing trading platform GUI front-ends using .NET Windows Forms and WPF, giving special attention to real-time performance and user friendly presentation. Experience with proprietary and open financial protocols (FIX, XML). Experience with financial business logic, including real-time messaging and sockets, reliable protocols, low latency protocols, distributed calculations, financial modeling, and automated trading algorithms. Experience with artificial intelligent systems for signal analysis and/or parameter optimizations. A high aptitude to rapidly learn and utilize new technologies, mathematics, and business infrastructures. A deep understanding of both technology and business objectives. I can effectively communicate and work with any type of person on any level, whether it is an Executive Manager, IT Professional, or PhD Quant. My long term career goal is to become a top expert in financial trading systems information technologies. Therefore, in the last few years my passion has been directed towards this goal. My proven track record is in real-time R&D signal processing technologies and I have found this experience to be directly transferable to financial trading technologies. I know that I would...
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...Llenguatges i Sistemes Inform`tics Campus Nord, M´dul C5-C6, C/Jordi Girona 1-3, Barcelona (08034), Spain o {steve, jmpujol, ia}@lsi.upc.es Abstract. Peer-to-peer (P2P) architectures exhibit attractive properties for a wide range of real world systems. As a result they are increasingly being applied in the design of applications ranging from highcapacity file sharing and global scale distributed computing to business team-ware. The objective of this paper is to outline a number of areas in which Agent techniques for the management of social problems such as decision making or fair trading amongst autonomous agents could be used to help structure P2P actions. In particular we focus on approaches from mechanism design, argumentation theory and norms / rules and electronic institutions. 1 Introduction Peer-to-peer (P2P) architectures exhibit attractive properties for a wide range of real world systems. As a result they are increasingly being applied in the design of applications ranging from high-capacity file sharing and global scale distributed computing to business team-ware. In addition their benefits however, P2P systems also fundamentally change the networking paradigm used in an application often causing tensions with other application goals such as security, predictability, performance guarantees, billing and so forth. Some of these issues in particular arise due to the nature of control, authority and ownership typical found in peer-to-peer systems: – It is no longer...
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...technology and artificial intelligence on the organization, privacy and control, research and instructional practices and ethics. Evolution of information technology has affected all these practices, and has helped them in improving their performance in some way. Information technology has opened a new era of information for today's organization (it might be business, non-profit, educational, research etc.) and has enabled it to gather and communicate information and thus function in a more effective way. On the other hand decision-making capability of the computers has changed the pattern of authority and responsibility with in the organization. Although information technology has bombarded the organization with all kind of information, but it has failed to take into account the limited capability of the society to absorb and use all the available information. In order to make information technology more effective, it must have the capability of providing the organization with relevant information and should be able to realize the needs of the users instead of procedures. Along with providing information, information technology has given rise to various technological problems, like establishing rules to use the available information and protecting it to be accesses by undesirable people. Another thing that the organization needs to be aware about, is the quality of information in order to make quality decisions. Information technology and artificial intelligence has helped...
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