Southampton, 3 - 4 July, 2017
Sven F. Crone is an
Assistant Professor in Management Science at Lancaster University,
UK, where his research on business forecasting and time series data
mining has received international recognition in international
journals including EJOR, JORS, and IJF. As the co-director of the
Lancaster Research Centre for Forecasting, one of the largest
research units dedicated to forecasting and analytics, he and his
team regularly take state-of-the-art research in artificial
intelligence and machine learning and apply it in corporate
forecasting practice, including artificial neural networks to
forecast beer demand for AnheuserBush InBev, container traffic for
Hapag-Lloyd or sun-tan lotion for fast-moving consumer manufacturer
Beiersdorf AG. Sven frequently provides in-house training courses on
forecasting and analytics for companies, the IBF and IEEE, and has
been a regular conference speaker, including keynotes at SAS
Analytics A2013, IEEE Rockstars of Emerging Technology 2016,
Predictive Analytics World’16 Germany, BAFI’14 and UK KDD’09. Sven
is also the founder and CTO of iqast, a university spin-of company
that is pioneering the applying of artificial intelligence and
machine learning in time series prediction.
TITLE OF TALK: The Rise of Artificial Intelligence in
Forecasting? Real Success Stories of Forecasting with artificial
Neural Networks
ABSTRACT: With more and more data becoming
available, Artificial Intelligence (AI) and Machine Learning (ML)
for Analytics are the latest hot topics pushed by the media, with
companies like Facebook, Google and Uber promising breakthroughs in
areas such as speech recognition and predictive maintenance.
However, in the forecasting world, reality looks very different. An
industry survey of 200+ companies shows that despite substantially
growing data sources, most companies employ very basic statistical
algorithms from the 1960s, and even market leaders have been slow to
adopt intelligent algorithms to enhance planning decisions. This
reveals a huge gap between scientific innovations and industry
capabilities, with opportunities to gain unprecedented market
intelligence being missed. In this session, we will highlight
examples of how industry thought leaders have successfully
implemented artificial Neural Networks and advanced Machine Learning
algorithms for forecasting, including FMCG Manufacturer Beiersdorf,
Beer Manufacturers Anheuser Bush InBev, and Container Shipping line
Hapag-Lloyd. I will leave you with a vision not of the future, but
of what’s happening now, and how it is revolutionizing your field.
Key learnings: (1) What Artificial Intelligence and Machine Learning
are, how they work, and their relevance to forecasting; (2) Real
case studies of AI and ML algorithms employed by leading
manufacturers; (3) The power of forecasting algorithms that learn,
adapt to context and find hidden insights.