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How can AI help in building accurate Economical and Financial plans? Any experience? Angelo DURANTE Cava De' Tirreni, Salerno, Italy At my company we are struggling every year with set up of detailed cost planning for the next 5 yearsm- based on complex big single unit costs that can have large variations due to FX, material escalations, cost of labor escalations, ext. Any experience in that? Saving Changes... Posted: Dec 27, 2023 1:09 PM

Sort By: Newest First Chronological Votes Kiron Bondale Community Champion Retired | Mentor| Retired Welland, Ontario, Canada Angelo - An AI tool is unlikely to be as helpful as a cost estimation tool or even a Monte Carlo simulation capability. With the latter, you could indicate worst case and best case scenarios for key cost components and have the simulation generate a distribution of potential outcomes. Additionally, I'd suggest that five year projections are unlikely to be accurate regardless of the tool used - just look at the impacts which the pandemic created on labor and material costs in the construction industry. Anything beyond a year is likely to subject to a very large number of factors which could skew actuals unless you are able to lock in prices up front with suppliers. Kiron Saving Changes... Posted: Dec 27, 2023 3:25 PM Sergio Luis Conte Helping to create solutions for everyone| Worldwide based Organizations Buenos Aires, Argentina All thing generated by AI has a confidence level associated to it. That is calculated from data that is provided to the AI entity to learn. AI outputs always have an error associated to them. Saving Changes... Posted: Dec 28, 2023 5:10 AM

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