Academic Scientific JournalsAn evaluation of the use of expert systems in economics
Keywords:
expert system, artificial intelligence, economic modelling,, SWOT analysisAbstract
This article presented the hypothesis that expert systems can extend traditional economic modelling. Before this hypothesis was examined, expert systems were specified and examples were given. Expert systems use a knowledge base, often of the form of “if A, then B” rules. It has been highlighted that expert systems have not as often been applied in economics as in other disciplines, like medicine or business science. A SWOT analysis for the stated hypothesis was conducted. Based on this qualitative analysis, the hypothesis was not rejected. An expert system for supporting inflation forecasts will be built in the nearer future.
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