Generative artificial intelligence represents a category of AI that utilizes generative models to produce text, images, or other forms of media. These models grasp the intricacies and structure of their input training data, enabling them to generate new data with similar characteristics. Generative AI in insurance plays a pivotal role [...]
As of 2023, organizations engaged in software development are investing 31% of their total budget into ensuring software quality meets their defined standards. Being in software development is like participating in a race against time in today’s rapidly evolving business model driven by digital platforms. Companies are under continuous pressure [...]
ChatGPT has taken the world by storm. Apps powered by large language models (LLMs) have suddenly taken center stage, with OpenAI, Google, Baidu, and Microsoft getting into the act. A spurt of startups and use cases has emerged on the scene. Suddenly, Generative AI, a branch to which these LLMs [...]
The insurance industry has always been one of the most data-intensive industries. With customer data, claims data, and other information, insurers have adopted artificial intelligence (AI) to streamline their processes and provide better customer experiences. AI/ML-powered technologies have enabled insurers to automate claims processing, fraud detection, and underwriting, among other things. Here [...]
ChatGPT has taken the world by storm. A simple interface is now being used by everyone and for everything. If you are in IT, I am sure not just your colleagues, but folks from your family that do not belong to the IT world are also talking about it. ChatGPT [...]
Artificial Intelligence (AI) is revolutionizing the way healthcare is delivered today. The industry’s data-driven evidential approach to medicine combined with AI is set to transform both the practice of medicine and how the treatment is delivered. AI is already being used to reinvent how people manage their health and access [...]
According to Statista, the global AI market is worth $100 billion and is expected to grow 20fold by 2030. This massive growth impacts various areas, including data management, where AI in data integration is essential, as traditional methods can’t keep up with the scale and complexity of modern data. Data-driven [...]
Artificial Intelligence (AI) is quite powerful and is constantly evolving and currently knows no bounds. It is focused on outperforming its limits using the power of Machine Learning (ML). AI is empowering computers to do things that human beings are unable to do efficiently and effectively and machine learning is aiding the computers to [...]
Fraudulent insurance claims are one of the biggest preventable losses that hurt insurers worldwide. The P&C segment accounts for the most fraudulent insurance claims, with auto insurance and workers’ compensation making up the biggest percentage of fraudulent claims that annually impact the insurance business. Traditionally, insurers have detected fraud manually. [...]
Our day-to-day lives are becoming increasingly reliant on the direction, decision-making, and support of AI systems. Never in the history of technology has the threat or the need to protect the integrity of such decision-making been more urgent or real. I recently served as an official reviewer for a new BCS [...]
