An agent based modelling solution for reliable decision making in crisis and market turmoil in consumer retail

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The project aims to build business decision support techniques for market crisis and turmoil with a focus on consumer goods and retail Industry. Existing solutions for the stable state do not work in these times due to challenges of data and modelling techniques. The project is an Industrial research project that plans to apply new developments in Artificial intelligence for building dynamic market simulation and anomaly detection capabilities that will enable reliable and explainable decision making with proactive business optimisation ability in times of uncertainty, which now occur quite often and last several months and sometimes years. The project is led by Singular Intelligence Limited who have an existing Applied AI platform for Consumed Goods & Retail. The academic research collaborator is Loughborough University, who has deep experience in AI research and Agent-based modelling. The project is expected to have a game-changing impact by enabling survival, growth and business innovation in a disrupted Retail Industry. As a consequence, the efficiency gains, asset optimisation, the waste reduction will also create a positive broader impact on society and the environment. The technology will also have applications in other industries; eventually, an initial idea of which is also stipulated to be established in the later part of this project.