Courses
ECON7035 Artificial Intelligence for Business (3 units)
- Prerequisite:
- ECON7870 Managerial Economics and Business Strategy and ECON7900 Statistics for Data Science
Data science is a practical application of machine learning to analyse data and make predictions about the future. Machine learning (ML) is simply a subset of artificial intelligence (AI). The latter refers to the simulation to human brain function by machines. One way to simulate is to create an artificial neural network. All these techniques are poised to drive significant changes for enterprises. This course focuses on three main issues for any business, namely, optimization of business processes, cost minimization and revenue maximization. Through introducing the key-driver Bellman equation, we apply three AI models Q-learning, Deep Q-learning, and Thompson Sampling to these cases, and demonstrate its predictability through coding.