Is there a future for traditional stochastic models in business and industry in the AI and ML era?
Conference
65th ISI World Statistics Congress 2025
Format: IPS Abstract - WSC 2025
Keywords: business-industry
Session: IPS 1026 - Artificial Intelligence and Data Science: The Role of the ISI – Panel Discussion
Tuesday 7 October 10:50 a.m. - 12:30 p.m. (Europe/Amsterdam)
Abstract
The talk is based on a collaborative paper prepared for the ISBIS journal "Applied Stochastic Models in Business and Industry" by many eminent researchers in the field who illustrate, through examples from business and industry, when the "traditional" stochastic models should be preferred to AI and ML methods and vice versa.