“In financial planning scenarios, analysts can accurately forecast revenue from multiple streams, identify anomalies and generate detailed commentary to explain trends in the data,” Nick Parrotta, president of digital transformation solutions and chief digital and information officer at Harman, told ET.
Analysis could include sales volumes, demand patterns, inventory levels, stockouts, revenue, expenses, cash flow, marketing campaigns, and click-through rates.
Being able to accurately predict future trends allows companies to optimize resource allocation and improve the overall situation. business performanceIt is designed for companies operating in dynamic and uncertain markets, where demand and supply can vary significantly.
Taking the example of the semiconductor industry, whose supply chain was affected during the Covid pandemic, Parotta said ForecastGPT could help in a similar crisis by helping companies plan better.
As for monetization, he said the company will pursue a licensing or subscription-based model for its customers’ use of the platform.
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“By applying AI, we want to deliver tangible, concrete results,” he said. The platform could help companies better understand complex data patterns and make more accurate forecasts without the need for predefined templates or formulas, Parotta said.
The platform has advanced features AI capabilitiesreal-time adaptability and the ability to integrate with multiple platforms. It can work with any data format and source, such as CSV, Excel, SQL, API and more, he said.
Harman Digital Transformation SolutionsA business unit of Harman, has over 7,000 employees, of which approximately 5,500 are based in India, spread across 12 countries in over 45 locations, in hardware, software and industrial domains serving 200 customers globally.
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