Financial Planning
Expert systems are used by individuals for their own personal situation or by companies on a large scale. They can be used to assess what actions to take in a given situation or to set out a financial plan for an individual. Such a plan would include suggestions as to how someone can manage their debts, reduce the amount of income tax they pay and organise investments, as well as suggesting the amount of insurance they should have and how to plan for their retirement. In addition, short-term personal saving plans could be recommended. The user enters the individual's personal and financial information and the expert system then devises personal financial plans.