Artificial intelligence technologies have emerged that hold considerable promise in helping improve the forecasting process including such applications as product demand, employee turnover, cash flow, distribution requirements, manpower forecasting, and inventory. These AI based systems are designed to bridge the gap between the two traditional forecasting approaches: managerial and quantitative.
AI used in Economics
"Five years ago it would have taken $500,000 and 12 people to do what today takes a few computers and co-workers," "I'm executing 1,500 to 2,000 trades a day and monitoring 1,500 pairs of stocks. My software can automatically execute a trade within 20 milliseconds - five times faster than it would take for my finger to hit the buy button."
Louis Morgan
Studies estimate that a third of all stock trades in the United States were driven by automatic algorithms last year, contributing to an explosion in stock market activity. Between 1995 and 2005, the average daily volume of shares traded on the New York Stock Exchange increased to 1.6 billion from 346 million.
"Artificial intelligence is becoming so deeply integrated into our economic ecostructure that some day computers will exceed human intelligence"
"Machines can observe billions of market transactions to see patterns we could never see."
Ray Kurzweil
AI in Hospitals
A medical clinic can use artificial intelligence systems to organize bed schedules, make a staff rotation, and provide medical information.
Artificial neural networks are used as clinical decision support systems for medical diagnosis, such as in Concept Processing technology in EMR software.
AI in Toys and Games
Toys and games have long been linked to Artificial Intellegence. The 1990s saw some of the first attempts to mass-produce domestically aimed types of basic Artificial Intelligence for education, or leisure. This prospered greatly with the Digital Revolution, and helped introduce people, especially children, to a life of dealing with various types of AI, specifically in the form of Tamagotchis and Giga Pets, the Internet (example: basic search engine interfaces are one simple form), and the first widely released robot, Furby. A mere year later an improved type of domestic robot was released in the form of Aibo, a robotic dog with intelligent features and autonomy.
AI has also been applied to video games. The artificial intelligence is demonstrated by the computers' ability to think on its on and make decision based off of your own decisions.
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