In recent years, Artificial Intelligence (AI) has advanced by leaps and bounds, revolutionizing various fields and sectors of society. One of the most interesting and promising areas of AI is “Generative AI”. What is Generative AI Generative AI is a field of Artificial Intelligence that includes systems and algorithms capable of generating new, original and…
There is no doubt that knowing the future can be a great advantage. The person who is capable of anticipating what life has in store will be able to get closer to achieving everything he or she proposes. Although we know that knowing the future completely is impossible, we can try to predict what is…
Industrial maintenance today In today’s business world, regardless of the sector and its specific problems, competition is increasing and fixed, production/distribution and labour costs are rising. As a result, profit margins are getting smaller and smaller. But we have the opportunity to increase these margins if we can increase asset availability and performance and reduce…
Demand forecasting systems are a very helpful tool for advanced process planning and for combating uncertainty in coverage forecasting. But what do we mean when we talk about uncertainty? Uncertainty is present in each and every business. It is the impossibility of knowing with certainty how a situation, a project or a business strategy will…
Predictive analytics is used to predict a future state or outcome by applying different statistical techniques to data. Some examples of results of the application of predictive analytics are: predictions of demand, consumer behaviour or machine maintenance needs. Among the analytical techniques used for predictive analysis we find the famous Machine Learning. The advantage of…
Las tecnologías basadas en Inteligencia Artificial son muy útiles para sacar conclusiones y encontrar patrones entre cantidades ingentes de datos, algo que para un humano sería imposible. Pero tomar una buena decisión no requiere únicamente de datos, sino que también necesita conocimiento, una lógica experta que se aplique a esa decisión. En las decisiones de…
As is well known, black box algorithms are those in which we know both the input data received by the model and the response it produces. However, as a general rule, these algorithms do not allow us to know how the answer is arrived at. Many techniques based on artificial intelligence are considered black-box, as…
Let’s see why the use of Machine Learning in the insurance policy subscription process is a differentiating factor, and how it works. Policy subscription process: insurance underwriter Contracting a policy is a voluntary decision by a person to cover a certain risk. But the insurance company has the last word. If the…
In this second post, we cotinue to explain the meaning of other analytic disciplines such as prescriptive analytics or cognitive computing.
Prescriptive analytics has a big potential to be a disruptive power in business. Along with predictive data, prescriptive analytics can contribute valuable knowledge about what can happen in the future and automate decision-making to achieve business goals.
In recent years, the use of certain terms to refer to new technology trends has become normal. We can find plenty of news on artificial intelligence (AI), machine learning, Big Data and advanced analytics, for example. But what does each of these terms mean? And, what do they mean in a business sense?