- Prevedere has launched new generative AI functionality, expanding its predictive analytics capabilities.
- The updated platform includes a Generative AI Copilot designed to simplify forecasting and decision-making.
- Key features include guidance on external drivers, expert explanations of predictive models, and analysis of macroeconomic conditions.
- The Generative AI functionality is integrated into Prevedere’s Search, Discover, and Predict modules.
- Customers, including Milwaukee Tool, report significant benefits from the new AI features.
- The development addresses the high demand for generative AI in strategic decision-making.
Main AI News:
Prevedere, a prominent global player in intelligence and predictive analytics, has announced the launch of its advanced generative AI functionality. This update marks a substantial expansion of the platform’s AI capabilities, introducing expert-level insights into leading external drivers and predictive models. The platform now includes a tailored Generative AI Copilot, designed to streamline forecasting and decision-making processes for business users.
Milwaukee Tool Benefits from Enhanced AI Features
Rich Wagner, CEO of Prevedere, highlighted the positive impact of the new Gen AI features, stating, “Our customers have already recognized the benefits of leveraging the new innovative Gen-AI solution.” Since the initial rollout of AI features in 2023, Prevedere has been acknowledged as a leading platform in forecasting and planning, thanks to its effective use of Gen-AI to enhance user experience and streamline processes.
Brad Sayers, Vice President of Demand Planning at Milwaukee Tool, shared his satisfaction with the new Gen AI functionality. He noted that the tool exceeded his expectations for Gen AI within a forecasting and planning platform and expressed confidence in its benefits for the company’s extensive planning needs.
Generative AI Delivers Unmatched Capabilities
The newly introduced Generative AI Copilot offers distinct advantages, equipping executives, analysts, and teams with immediate, expert-level insights on external drivers affecting predictive models. Key features include:
- Guidance on relevant external drivers for predictive modeling.
- Clear explanations of predictive models with the expertise of an economist and data scientist.
- Analysis of customer outcomes in relation to current and future macroeconomic conditions by market.
Enhanced Functionality Across Core Modules
Prevedere has integrated Generative AI across its Search, Discover, and Predict modules, enhancing user experience and insight delivery:
- Search Module: Users can efficiently identify relevant external drivers with AI assistance.
- Discover Module: Provides context on how historical and future events impact specific indicators, accelerating decision-making.
- Predict Module: Simplifies complex predictive models, making sophisticated econometric analysis accessible to all users.
Customer-Centric Innovation
Developed in close collaboration with industry leaders, Prevedere’s updated functionality meets the increasing demand for rapid, accurate, and actionable intelligence. A recent survey indicated that 72% of CEOs view generative AI as a top investment priority, and Prevedere’s advancements respond to this trend by integrating sophisticated AI features that enhance predictive planning and deliver significant user value.
Commitment to Advanced Forecasting Solutions
Prevedere has been pivotal in supporting business leaders with informed decision-making, risk mitigation, and market opportunity identification. The introduction of the Generative AI Copilot represents a major advancement in forecasting technology, offering users the expert guidance needed to navigate complex economic environments effectively.
Conclusion:
The introduction of Prevedere’s advanced generative AI functionality signifies a notable shift in the predictive analytics market. By integrating expert-level insights and simplifying complex forecasting processes, Prevedere is setting a new standard for AI-driven decision-making tools. This development not only enhances user experience but also aligns with the increasing emphasis on generative AI in strategic planning. As businesses seek more accurate and actionable intelligence, Prevedere’s innovations position it as a leader in meeting these evolving needs, potentially influencing other players in the market to accelerate their own AI advancements.
