Prediction intervals are a statistical concept used in forecasting and predicting future outcomes based on past data. A prediction interval provides a range of possible values within which a future observation is expected to fall, with a certain level of confidence. It is different from a point estimate, which provides a single, specific value as a prediction. Prediction intervals take into account both the uncertainty in estimating the true relationship between variables and the variability of future observations. They are commonly used in various fields such as economics, finance, and science to provide a more comprehensive and accurate assessment of future outcomes.