Three University of Colorado professors have been awarded a $238,000 grant to improve computer software that helps people in companies and organizations make better decisions.
CU-Boulder Leeds School of Business Professors Fred Glover and Manuel Laguna, along with CU-Denver business Professor Gary Kochenberger, were awarded the one-year grant by the Office of Naval Research.
"This research explores how to incorporate artificial intelligence and learning in computer methods for finding optimal decisions among a large set of alternatives," said Laguna. "The research is exciting and has a tremendous potential for improving current decision support systems, which will save millions of dollars."
Improved software to solve optimization problems could be used by a wide range of organizations ranging from manufacturing to service businesses and government agencies, Laguna said. One potential use is in the area of telecommunications problems.
Telecommunications companies would like to expand their network capacity without the expense of laying additional fiber strands in the ground, Laguna said. New equipment allows companies to create multiple channels and increase the capacity of fiber strands, but the problem is how to effectively use the new technology.
By feeding criteria of the problem into a computer program, the computer software developed by the professors identifies where to install the new equipment and where the new equipment would not be beneficial, considering predicted demand. The computer "decides" the best possible solution to the problem, potentially saving the company hundreds of millions of dollars in capital investment.
The Office of Naval Research coordinates, executes and promotes science and technology programs for the U.S. Navy and the Marine Corps. It has sponsored projects that have produced the laser, the Global Positioning System and 50 Nobel prizes.
Glover has received a second grant for $1.2 million from the Office of Naval Research for his research on "Innovations in Optimization Methodologies."
Glover earned his doctorate degree from Carnegie-Mellon University. Laguna earned his doctorate degree from the University of Texas at Austin.