Forecasting Impact
Forecasting Impact is a monthly podcast that aims to disseminate the science and practice of forecasting alongside prominent academics and practitioners in the field. Our vision is to grow the forecasting community, foster collaboration between academia and industry, and promote scientific forecasting and good practice. We’ll discuss a variety of topics in economics, supply chain, energy, AI, data analytics, healthcare, and more.
Podcast Team: Dr. Mahdi Abolghasemi, Dr. Sevvandi Kandanaarachchi, Michał Chojnowski, Dr Laila Akhlaghi, George Boretos, Mariana Menchero, Dr. Faranak Golestaneh, Arian Sultan Khan.
Future guests: if you have something interesting on forecasting to share with our audiences, please send an email to forecastingimpact@gmail.com
Forecasting Impact
Michele Trovero and Spiros Potamitis, on Software and Large Language Models in Forecasting
Our guests are Michele Trovero, leader of the Forecasting R&D group at SAS, and Spiros Potamitis, Data Scientist and Product Marketing Manager at SAS. We delved into the intriguing intersection of Language Model-based AI (LLMs) and forecasting software.
We explored the openness of forecasting software providers to embrace LLMs and discussed the profound impact these models could have on the industry. Michele and Spiros shared insightful examples of LLM applications. They elaborated on the way code generation capabilities powered by LLMs would enhance the development of forecasting software and the user experience. Additionally, they explored how LLMs could democratize forecasting, and discussed other tools and technologies that could contribute to this goal. We also discussed the typology of models behind LLMs, and their applicability in forecasting, as well as the limitations and enablers in using AI-pretrained models in forecasting. The discussion extended to SAS Visual Forecasting and Model Studio, shedding light on their functionalities and workings.
Michele and Spiros speculated on the areas of focus for forecasting software companies, enhanced automation in forecasting, shifts in user consumption patterns, and anticipated integrations between forecasting systems and other technologies.
They recommended the following for further study:
1. How Will Generative AI Influence Forecasting Software? by Michele Trovero and Spiros Potamitis, Foresight: The International Journal of Applied Forecasting.
2. A Glimpse into the Future of Forecasting Software, by Spiros Potamitis, Michele Trovero, Joe Katz, Foresight: The International Journal of Applied Forecasting.