Artificial Intelligence as a Business Forecasting and Error Handling Tool

Abstract

Any business enterprise must rely a lot on how well it can predict the future happenings. To cope up with the modern global customer demand, technological challenges, market competitions etc., any organization is compelled to foresee the future having maximum impact and least chances of errors. The traditional forecasting approaches have some limitations. That is why the business world is adopting the modern Artificial Intelligence based forecasting techniques. This paper has tried to present different types of forecasting and AI techniques that are useful in business forecasting. At the later stage we have also discussed the forecasting errors and the steps involved in planning the AI support system.