Technologies such as AI and big data have become increasingly proficient at spotting trends in large data sets. Indeed, so proficient have they become, that the University of Toronto's Ajay Agrawal, Joshua Gans, Avi Goldfarb argue that lowering the cost of prediction will be the main benefit delivered by AI in the near term.
A sign of the progress being made comes via a recent paper from researchers at the University of Cordoba, which chronicles the work they've done in producing an accurate forecasting machine. They were able to provide accurate forecasts with less data than has been used in previous models.