Artificial Intelligence in Business Simulation Analysis

Abstract

Purpose: Research on business simulation and machine learning has attracted immense interest in the last few years.  The aim of this study was to provide a comprehensive view of machine learning in business simulation. To review the use of artificial intelligence in business simulation analysis. A review of the literature, however, shows little systematic reviews on the application of machine learning techniques to business simulation, yet systematic reviews have gained prominence in the academic jargon. Methodology: Thus, this study does reviews systematically a total of 123 shortlisted articles that focus on the machine learning techniques in the business simulation process. Findings: There are immense algorithms of machine learning which can be used in a business simulation, although this study was able to review ten machine learning algorithms in the business simulation process. As a whole, the machine learning algorithms have been deployed to yield lead-time production in the industry. In inventory and storage, machine learning has been applied to improve efficiency in identifying inventory patterns that would have never been revealed and thus saves on costs. Future direction also discussed.