How Artificial Intelligence Will Inform Your Decision?
Please write a 2 page paper (not including references) and include 2 outside references to answer the problem below. This was a real company that I built an AI based model for here in the Texarkana area, so this is a case that I wrote just for you guys! Before artificial intelligence (AI), business decision makers often faced information overload issues. As a result, the decisional process relied on individuals to synthesize massive amounts of data and try to make the best-informed decisions that they could within the time constraints that they had. The issue arose when a single person could not feasibly process the colossal amounts of information required to make good and reliable decisions. The overwhelming amount of data collected by corporations, often leaves executives scratching their heads when they must understand complex and adaptive information that is processed through their businesses, especially when problems arise that require a prompt decision. Complex information is data collected that has several layers and countless moving components that are oftentimes too complex for one to understand. AI-based models and software applications can grapple with billions of lines of data and showcase connections within the data that an individual observer may miss, otherwise. TSD Logistics offers diversified transportation services throughout North America and specializes in trucking services. TSD Logistics contracted you to use AI to connect meaning to the wealth of data in an illustrative way to decide how many trucks they need. TSD Logistics faces millions of lines of data annually on purchase orders, data collected by their truck satellite tracking company, notes collected by their drivers, accounting spreadsheets, and GPS figures from their individual trucks. You were presented with over 10,000 spreadsheets of data to determine the precise amount of trucks to put on the roads, considering history and the probability that the individual trucks will need to be retired within the next three years. You consider the following variables and decide that they are essential: Depreciation of the trucks Life of the individual trucks (including miles traveled and location factors that can impact truck life) The amount of time the trucks are idol versus active Seasonal influences (Thanksgiving, Fourth of July and Christmas timeframes), Repair costs Revenue per mile Expenses- including driver pay rate and bonus structures (during a time of driver shortage), wage taxes, driver insurance rates (including Worker’s compensation, driver’s insurance (liability, cargo and damage) and health/life benefits), periderm rates, direct salaries Fuel costs Demand Cost of trucks and finance charges (including the interest rate) You feel overwhelmed with all the data that was presented to you to make a decision on how many trucks TSD logistics needs. How do you think artificial intelligence will inform your decision?