Emerging Tech > AI solutions

Diverse AI perspectives on Global Fibre Price Forecasting

Saal Bira
Donnerstag, 12.09.2024, 15:10 - 15:35 Uhr

Uncertainty threatens future business success and stability. By leveraging advanced analytical methods and billions of market data points, we can generate accurate forecasts for fibre prices. This presentation focuses on how we can better forecast price development by focusing on familiar real-world factors or identifying new, unrecognized ones.

Sprecher
Bjol Frenkenberger (MIR Insight AS)
Uncertainty and rapid volatility in the market has caused millions in losses due to unforeseen price swings and demand changes. Experts are often aware of what might influence price development in their key markets and products, but it is hard to keep up with what's happening in real-time. It is usually also a challenge to identify data, that represents such factors, and it's difficult to make use of them to forecast better. We can use advanced analytical methods to identify datasets and then incorporate and combine several of them to generate superior forecasts with reliable accuracy. Different model setups represent different future outlooks and give us a way to limit the risk we are facing, while remaining explainable and understandable.