PODCAST: AI can help chemical companies tackle biggest pain points

BARCELONA (ICIS)–Artificial intelligence (AI) can be used by chemical company leaders to help solve their biggest challenges, such as predicting demand and pricing.

• AI can develop demand scenarios for chemical markets
• Companies should focus AI only on their biggest pain points
• AI could measure market sentiment
• ICIS is developing algorithms to forecast pricing
• AI allows programs to perform tasks normally carried out by humans
• Machine learning is an algorithm with the ability to learn
• Deep learning is a neural network which can learn from data
• In aerospace, AI already forecasts demand, alters pricing, using algorithms
• Click here to watch an ICIS webinar on digital transformation trends in the chemical industry

In this Think Tank podcast, Will Beacham interviews tech founder, AI engineer and consultant Eleanor Manley, ICIS director of data solutions Alan Spanos, ICIS senior consultant Asia John Richardson and Paul Hodges, chairman of New Normal Consulting.

Editor’s note: This podcast is an opinion piece. The views expressed are those of the presenter and interviewees, and do not necessarily represent those of ICIS.

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Read the latest issue of ICIS Chemical Business.

Read Paul Hodges and John Richardson’s ICIS blogs.