Carlos III University of Madrid (UC3M) researchers have developed SIMulator for Business Administration (SIMBA), business simulation software that can mimic how a market behaves as companies make different business decisions. “It can be utilized from a competitive point of view since different companies can compete against each other to improve their own results,” says UC3M’s Fernando Fernandez. SIMBA uses different variables, including products, markets, client segments, technology, languages, currency, and socio-economic environments, to create a realistic simulated business environment. SIMBA also can be used as a tool for students who are studying the business world. The companies involved in a simulation can be controlled by humans or by computer programs using artificial intelligence. “This increases the complexity of the simulated market and creates the possibility of carrying out multi-player simulations, where some players are human, but where others are controlled by computer programs built by artificial intelligence techniques,” Fernandez says.
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