CITIC Telecom CPC’s Data Science And Innovation Team Wins The Championship Of “Material Demand Forecast” Award In The 5th China Industrial Internet Data Innovation And Application Contest
Innovative AI Algorithms and Smart Analysis Transform Supply Chain Management
CITIC Telecom International CPC Limited (CITIC Telecom CPC), a wholly-owned subsidiary of CITIC Telecom International Holdings Limited (SEHK: 1883), is honored to announce that its data science and innovation team has won the championship of “Material Demand Forecast” award in the 5th China Industrial Internet Data Innovation and Application Contest. The contest was jointly organized by The China Academy of Information and Communications Technology (CAICT) and People’s Government of Baoan District, and was strongly supported by Alliance of Industrial Internet and Shenzhen Industrial and Information Technology Bureau.
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021 was a bountiful year for CITIC Telecom CPC where its data science and innovation team has achieved new heights. CITIC Telecom CPC attained the highest honor and won the championship in the “Classification of Malware Families based on Artificial Intelligence” in the CCF Big Data & Computing Intelligence Contest (CCF BDCI) organized by the China Computer Federation. The latest award is the championship in the 5th China Industrial Internet Data Innovation and Application Contest. Lasted nearly 3 months, the contest attracted more than 6000 people from over 2200 teams to participate. The data science and innovation team of CITIC Telecom CPC entered the competition in the “Smart Material Demand Forecast in Discrete Manufacturing Industry” category. The team used different attribute correlation analysis and integrated various algorithms to generate the best predictive value of product material demand and finally won the championship.
With the theme “Digitization drives intelligence and provides insight into industrial future”, the contest provides real industrial production and operational data according to the needs of real manufacturing enterprises. Based on historical data of raw material demands and inventory level, every team has to predict the demand of each raw material in every factory and provide periodic demand forecast results for the coming 3 months in order to advise the factory in terms of stocking and production. CITIC Telecom CPC’s data science team collected the data and conducted materials, scenarios and relevant attribute correlation analysis based on time series, and integrated various algorithms like mathematical algorithms to do intelligence analysis, thereby generating the best predictive value and finally won the contest.
“Data science has been widely utilized in various industries. Its strong intelligent power and rapid development have reshaped traditional enterprises for digital transformation. We are honored to receive this award in recognition of our data experts and professional team’s comprehensive capabilities in industrial internet demand scenarios, algorithms modeling expertise and AI analysis. It also shows our team’s dedication in innovation and integrate the latest technologies into business values, which bear testimony to our corporate vision ‘Innovation Never Stops’. We will continue to sharpen the professional skills of data science team, to prepare for our strong engagement in future research and innovation projects.” said Mr. Esmond Li, CEO of CITIC Telecom CPC.
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Enhancing forecast accuracy with intelligent innovation
Different industries across the globe are facing big challenges in their supply chain during the pandemic. Supply chain collaboration is of great importance to enterprises particularly in the discrete and complex manufacturing industry. It is important to maximize the power of ICT services as an enabler of using data resources and intelligent algorithms to enhance forecast accuracy. Cloud computing, digitalization and the Industrial Internet of Things (IIoT) empower enterprises to implement supply chain collaboration and smart production management, helping them significantly reduce cost, increase efficiency and risk resistance capability. In this contest, CITIC Telecom CPC made use of real data in industrial scenarios to conduct algorithm analysis and modeling through its self-developed AI platform for IT operations. The professional use of different attribute correlation analysis and the integration of various algorithms have generated the best predictive value. The result demonstrates the value and vision of intelligent innovation, harnessing CITIC Telecom CPC’s extensive ICT infrastructure services and their integration with AI technology. By integrating the latest technologies like intelligent algorithms, AR, big data, blockchain and IoT into its existing service portfolio, CITIC Telecom CPC has successfully developed smart ICT services and new business values as well as broadening industry use cases to empower enterprises to unlock business potentials.
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