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UNIC to Launch the Makridakis Open Forecasting Center

UNIC to Launch the Makridakis Open Forecasting Center

The University of Nicosia (UNIC) is launching the Makridakis Open Forecasting Center (MOFC), as an integral part of the University’s Institute for the Future (IFF) and in service of the Institute’s primary mission to explore how technological progress is causing rapidly accelerating societal change. The launch will take place at the University of Nicosia (UNESCO Amphitheatre) on Tuesday, 21 January, at 17:00.

The newly-formed Center will build on the University’s global initiatives in the prevalent field of Forecasting, under the direction of Professor Spyros Makridakis – for many, the ‘father’ of Forecasting. More specifically, MOFC conducts cutting-edge research on forecasting, helping organizations make accurate predictions, estimate levels of uncertainty, and manage risk through training, research, technology development and consulting. Ultimately, MOFC aims to expand the utilization and value of forecasting among business firms.

Following a welcome address by UNIC CEO, Antonis Polemitis, those present at the launch will benefit from a masterclass on the facets of Forecasting. Professor Makridakis, who also serves as the Director of Research at IFF | UNIC, will deliver a talk on “The Importance of Forecasting Accuracy and Uncertainty to Business”. In his view, forecasts are essential for practically all business decisions and the newly-created MOFC will work towards improving the accuracy of forecasting and the correct estimation of uncertainty, while offering specific suggestions on how to rationally deal with the ensuing risks.   

Professor Nassim Nicholas Taleb is a world-renowned scholar, mathematical researcher and philosophical essayist, who is also actively involved in risk-based policy-making, having at one time advised the International Monetary Fund (IMF) and UK Prime Minister David Cameron. His pioneering work on uncertainty has been supremely influential, with his multivolume essay, the Incerto (The Black Swan, Fooled by Randomness, Antifragile, and Skin in the Game), having been published in 41 languages. Currently a Distinguished Professor of Risk Engineering at New York University’s Tandon School of Engineering, Professor Taleb will also serve as an IFF Visiting Scholar. His work focuses on mathematical, philosophical, and practical problems with risk and probability, as well as on the properties of systems that can handle disorder. He will be expanding upon “Risk, Decisions and Business” in his talk.

The launch event will conclude with a Q&A session with both Professors Taleb and Makridakis, and will be followed up by a Cocktail Reception. 

Please note that seating is limited. As such, pre-registration is advised via the following link:

mofc.unic.ac.cy. For more information, please contact mcompetitions@unic.ac.cy or +35722367203 or +35799620085.

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