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Foresight Associate Editor and Data Science Expert at SAP, Stephan Kolassa provides a needed perspective on the potential of machine learning forecasting models.

“Anyone who has not spent the last 10 years under a rock is aware of the giant strides that machine learning (ML) and artificial intelligence (AI) have been making. Deep learning (DL) and other AI/ ML methods surpass humans at image recognition and at tasks that were traditionally considered “too hard for computers,” like the Asian game of go, also known as weiqi (Chinese) or baduk (Korean). And in forecasting, AI/ML methods have shown a strong performance in the recent M4 forecasting competition.

Thus, the question on everyone’s lips: Will AI/ML solve our forecasting problems?”

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Foresight is a quarterly publication of the International Institute of Forecasters. The premier journal for working forecasters and planners, Foresight delivers peer-reviewed and edited articles, tutorials, and case studies that provide unmatched professional development for forecasters. Become a member now and receive Foresight!

 

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