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AIROI - Artificial Intelligence Return on Invest: The AI strategy for decision-makers and managers

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3 August 2024

AI-supported forecasts (Glossary)

Artificial intelligence Automation Big data and smart data Digital transformation AI Glossary

The term "AI-based forecasting" is particularly at home in the fields of artificial intelligence, big data, smart data and digital transformation. It describes the use of artificial intelligence (AI) to make predictions about future events, trends or developments.

Imagine AI-supported forecasts like a particularly clever weatherman who can predict the weather for the next few days more reliably than any human based on huge amounts of data. The AI analyses countless past and present data at lightning speed and recognises patterns that we might otherwise have missed. This not only makes it possible to better predict sales or demand, but also, for example, when machines in production should be serviced.

A practical example: an online shop uses AI-supported forecasts to determine which products will be in particularly high demand in the coming month. This enables it to order sufficient goods in good time and stay ahead of its competitors. AI-supported forecasts therefore help companies to make smarter decisions, save costs and react more quickly to changes.

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AI-supported forecasts: Find out how you can use AI to recognise trends and make smarter decisions. Discover more now!

written by:

Sanjay Sauldie

Sanjay Sauldie is a digital strategist, speaker and developer of the transruption toolkit, which companies can use to make their digital transformation measurable, human and sustainable. With kiROI - the AI-based approach to value creation in the digital age - he helps self-employed people and companies to integrate artificial intelligence into their processes in a practical way. With his outstanding marketing strategy iROI, he has already led countless companies to greater visibility and thus more profits. He combines digital innovation with disruptive thinking models for a sustainable business strategy. He studied mathematics and computer science at the University of Cologne, completed a Master of Science in Digital Disruption at the University of Salford (UK) and a Design Thinking programme at MIT/EMERITUS Singapore. As a multiple award-winning expert - including the Golden Web Award and the Innovation Award of the Initiative Mittelstand - he advises SMEs and corporations. His motto: "Digitalisation is not an end in itself - it must serve people."

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