It is a well-known fact that the workforce in the Insurance space is heavily burdened with repetitive and mundane tasks
"Their time and skills are rarely channeled towards more value-added tasks.
Day to day tasks such as personal and commercial insurance line underwriting and onboarding, policyholder services and processing of claims, there's a myriad of important but plain repetitive work, affecting the overall organization's efficiency, affect customer satisfaction, business conversion and profitability..."
As the power of AI and machine learning have become widely recognized, and as people see the value that these approaches can bring to an increasingly data-heavy world, a new need has arisen: the need for explainable AI
"How will people know the nature of the automated decisions that are made by machine learning models? How will they make use of the insights provided by AI-driven systems if they do not understand and trust the automated decisions that underlie them?
The biggest challenge to the next level of adoption of AI and machine learning is not the development of new algorithms, although of course that continues to be done. The biggest challenge is building confidence and trust in intelligent machine learning systems. Some call this need for confidence and trust a barrier for AI - and in a way it is - but I prefer to think of it as a very reasonable requirement of AI and machine learning. Explainable or interpretable AI involves the ability to present explanations for model-based decisions to humans. So explainable AI is of critical importance for the success of AI and ML systems. But explainable to whom?..."
In the last decade, the arrival of AI and Automation in the workplace came with mixed emotions
"Despite the operational efficiency benefits, these technologies brought to businesses - and to workers themselves - the fear of job losses and lack of education around intelligent automation marred the impact of these new innovations in the working world. In 2020, that will all change. A new model of partnership between humans and machines is emerging, focused on the value of Intelligent Automation and Humans working together can bring: Augmented Intelligence..."
Digital overload is leading to more authentic trends in business. Find out the top five in a new Twilio report
"People have reached digital overload with social media alerts, push notifications, messages, robocalls, and chat bubbles coming from all sorts of apps, websites, and platforms, an estimated 63.5 notifications daily per person.
The rise of social media pushed communications into the public sphere 10 years ago, where broadcasting to the widest audience dominated, and now people prefer secure, 1-to-1 or group channels.
This evolution is an opportunity for businesses to develop authentic connections with their customers through personalized, dynamic conversations. Businesses must prepare to have two-way conversations with their customers on multiple channels over time in order to deliver a positive experience..."
Across all industries, business leaders are waking up to the massive potential of artificial intelligence (AI) in powering decision-making processes and streamlining complicated or laborious tasks
"The sales and marketing (SaM) sector is certainly no different, and in recent years there has been significant uptake in the number of SaM professionals looking to technology to help boost sales, increase customers and ultimately promote their business. For instance, The State of AI 2019: Divergence report revealed that the adoption of AI had tripled in last 12 months..."
If you're uncertain whether AI is the best or worst thing to ever happen to cybersecurity, you're in the same boat as experts watching the dawn of this new era with a mix of excitement and terror
"AI's potential to automate security on a broader scale offers a welcome advantage in the short term. Yet unleashing a technology designed to eventually take humans out of the equation as much as possible naturally gives the industry some pause. There is an undercurrent of fear about the consequences if things run amok or attackers learn to make better use of the technology..."
They beat us at chess and trivia, supplant jobs by the thousands, and are about to be let loose on highways and roads as chauffeurs and couriers
"Now, fresh signs of robot supremacy are emerging on Wall Street in the form of machine stock analysts that make more profitable investment choices than humans. At least, that's the upshot of one of the first studies of the subject, whose preliminary results were released in January.
Buy recommendations peddled by robo-analysts, which supposedly mimic what traditional equity research departments do but faster and at lower costs, outperform their flesh-and-blood counterparts over the long run, according to Indiana University professors..."
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