Analysis and Usage of Expert Systems

Running head: ANALYSIS AND USAGE OF EXPERT SYSTEMS
Analysis and Usage of Expert Systems
Name of the Student
Name of the University
Author Note

ANALYSIS AND USAGE OF EXPERT SYSTEMS1
Table of Contents
What kind of applications suits using Expert System (ES) and why? Why is
it easier to correct mistakes in ES than in conventional programs?...............2
Answer the Following................................................................................................................4
A client has just observed that the dollar exchange rate is falling. He wants to know
whether to take a new loan. Based on the rules above make a recommendation to him and
explain your answer...............................................................................................................4
A second client observed that interest rates are unchanged. She asks for advice on
investing in bonds. What will the ES tell her? Provide an explanation about your answer...4
University DSS...........................................................................................................................5
Describe how this expert system can assist student in choosing subjects..............................5
What type of knowledge needs to be stored in such an expert system?................................6
Name three limitations of such expert system.......................................................................6
DLSS for Alert Generation........................................................................................................7
List 2 different types of models you might employ, and what kinds of mistakes that they
might be used to detect...........................................................................................................7
Communications Driven Decision Support System...........................................................7
Knowledge Driven Decision Support System....................................................................7
References..................................................................................................................................9

ANALYSIS AND USAGE OF EXPERT SYSTEMS2
What kind of applications suits using Expert System (ES) and
why? Why is it easier to correct mistakes in ES than in
conventional programs?
Expert Systems are based upon artificial intelligence (AI). These expert systems are
knowledge based systems which employ knowledge regarding its specific domain of
application (Abu-Nasser 2017). It makes use of the process called inference that is reasoning
in order to provide solutions to various kinds of problems which generally requires the
expertise of human competence. Expert systems are especially beneficial for specific domains
as they are built with extensive knowledge on the particular domain (Campbell May and
Perry 2019). Expert systems can be used in decision making however, it must be noted that
they act more like assistants and not as replacement of decision makers as whole. Expert
systems do not come with all the capabilities of a human being (Tichý, Chytrý and Landucci
2019). They follow the knowledge fed to them regarding a specific domain and based on that
knowledge assists with decisions. Expert systems are also used to apply heuristic knowledge
which translates to the rule of thumb used by a human working in that domain.
There are several categories of applications that can be carried out with the help of
expert systems (Abu-Naser and Al-Hanjori 2016). These application areas generally involve
classifications, design, diagnosis, generating options, monitoring, process controls as also
scheduling and planning.
Classification: This includes identification of objects on the basis of the characteristics that
have been stated.
Design: This includes configuring of systems on the basis of the required specifications.
Diagnosis: Discovering malfunctions and diseases through inference from the data being
observed.

ANALYSIS AND USAGE OF EXPERT SYSTEMS3
Generating options: To be able to provide alternate solutions to problems
Monitoring: Comparing observable data of systems on a continuous basis to prescribe
behaviour.
Process controls: The ability to control physical processes on the basis of monitoring being
done.
Scheduling and planning: Developing and modifying an action plan
However, expert systems are also being used in financial decision making and
knowledge publishing. In the financial services industry, expert systems are being heavily
used (Žarković and Stojković 2017). Based on expert systems advisory programs are set up
for assisting the bankers if loans need to be granted to businesses or individual clients. Expert
systems are used by insurance companies for assessing the risks presented by customers for
determining the pricing of insurance (Heckerman, Horvitz and Nathwani 2016). Typically
expert systems are used for foreign exchange trading in the financial market. The other area,
knowledge publishing is new to adopting expert systems but offers a lot of potential for
expert systems. Expert systems are mainly used to deliver knowledge which is relevant to
specific problems of the user in a particular domain (Mann 2019). This category includes two
of the most popular usage of expert systems which are advisory for counselling users on the
correct grammatical usage in the text they type and the other being a tax advisor that helps
with tax preparation programs thereby assisting users with strategies and tactics in paying
taxes and maintaining individual tax policies.