Radical business innovation with machine learning and intelligent optimization
Learning and Intelligent Optimization (LION) is the combination of machine learning from data and optimization to solve challenging and dynamic problems, previously thought to require intelligent human intervention and creativity. Businesses can be run more and more by defining objectives, measuring and collecting data, using data to build models, using models to connect new data directly to decisions and actions, with very limited human intervention. With support of the right software, a huge power is directly in the hands of businesses in a self-service and automated manner. We highlight the scientific principles and mention some notable examples of this radical transformation which can produce wealth for everybody provided that the risk of higher unemployment rate is properly addressed.