AI for Strategic Business Planning and Resource Allocation

Abstract

Long term organizational success will be hampered if strategic business planning and resource allocation is not done. Decision making has thus been revolutionized by AI through making predictive accuracy more accurate, optimizing the resource distribution and for strategic foresight. This research proposes the use of Reinforcement Learning (RL) as a robust AI technique to perform dynamic and data driven business planning. The adaptive learning part of RL allows business to periodically adjust their strategy with real time feedback to make optimal decisions. In this case, we use IBM Watson Studio for interactive data analysis, model training and business intelligence making it easy to facilitate this approach. The Reinforcement Learning combined with IBM Watson Studio powers businesses to tune in its decision making, use its resources in a smarter and more financial and operational way to stay competitive. This research demonstrates how AI led strategic planning could enhance the business growth as well as deliverability and efficiency in the resource management.