AI Changing the Game for Insurance

#AI Changing the Game for #Insurance 

#chatbots 
#fintech #Insurtech

  • US insurance company Lemonade are continuing their rise to the top using Artificial Intelligence, after revealing their research which shows they are gaining a large share of the New York market.
  • Their Google Surveys revealed that in less than a year, Lemonade has captured almost 5% of the market share in renters insurance.
  • Their ascent is even more incredible when considering that the average market share for the top 10 homeowners insurance is 6.3%, while being in business for 104 years.
  • Furthermore, Lemonade has truly captured the attention of new entrances into the market, where they boast 27% of the market share.
  • The vast majority of the ‘market’ bought their policy before Lemonade existed, so the more telling number is the share amongst consumers who entered the market since Lemonade did.

Insurance company Lemonade are turning the financial services industry head with their AI processes.
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Accenture Research: AI Boosts Industry Profits

Artificial Intelligence (#AI) on average can boost company profits by 38% —@Accenture

  • — Accenture Research

    The above key findings was derived from comprehensive new research on the potential economic impact of artificial intelligence (AI) in GVA, a close approximation of GDP that accounts for the value of goods and services produced, developed by Accenture Research in collaboration with Frontier Economics.

  • Here are 10 significant takeaways from the new Accenture Research on AI and its potential economic impact:

    1.

  • To prepare for a successful future with AI, business leaders should consider the following eight strategies:

    To further understand the economic impact of AI, Salesforce commissioned a report from IDC on how AI-powered CRM – the fastest growing and soon-to-be largest category of enterprise software – will impact GDP growth and the job market.

  • Here are the key findings:

    Here’s the link to Accenture’s full AI research report.

  • The report found that AI could double annual economic growth rates by 2035 and boost labor productivity by up to 40 percent by fundamentally changing the way work is done.

“Businesses that successfully apply artificial intelligence (AI) could increase profitability by an average of 38 percent by 2035. The introduction of AI…
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Fancy a four-hour day, just four days a week? Jack Ma, founder of Alibaba, predicts AI will dramatically reduce our workload in just 30 years

Jack Ma predicts #AI will dramatically reduce our workload in 30 years

  • It’s good news for people who find work a drag, as Alibaba founder Jack Ma believes we will work just four hours a day for four days a week by 2047.
  • The 52-year-old Alibaba founder – China’s equivalent of eBay – warned ‘there’s going to be trouble’ with AI in the future unless governments move fast.
  • I think in the next 30 years, people only work four hours a day and maybe four days a week’, he said.
  • I think in the next 30 years, people will only work four hours a day and maybe four days a week’, he said.
  • Earlier this year, the Chinese billionaire said that the world’s best CEO will be a robot within the next 30 years.

The 52-year-old Alibaba founder Jack Ma said people would reap the benefits of AI and be free to spend more time travelling and less time working, at a conference in Detroit.
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Aakar Anil’s answer to What kind of machine learning algorithms do the driverless cars use?

What kind of #machinelearning algorithms do the #driverlesscars use?  #AI #ML

  • The car’s sensors gather data on nearby objects, like their size and rate of speed.
  • Driverless cars use Machine Vision Algorithms, and there are different ways to gather/capture, prepare training data sets for Autonomous Vehicles.
  • To train both their recognition and decision-making algorithms we have to take their raw data and deliver it back with bounding boxes and labels that accurately categorize and identify those objects.
  • For those using lidar, an active laser sensor system that illuminates the car’s surroundings, creating what are known as point clouds, we have to take those images and provide 3D annotations.
  • This lidar data is annotated to provide accurate georeferenced coordinates that are used to replicate the reality of a car’s surroundings, creating the AI that makes the technology safer and more reliable.

NYTimes has a very good article on how driverless car works! The car’s sensors gather data on nearby objects, like their size and rate of speed. It categorizes
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Jack Ma: Artificial Intelligence Will Bring a Four-Day Week

Jack Ma says a 4-day work week is coming soon

  • “I think in the next 30 years, people will only work four hours a day and maybe four days a week,” Ma said Tuesday during a CNBC interview at the Gateway ’17 Conference.
  • We work eight hours, five days a week and think we are very busy.”
  • The Chinese billionaire also addressed the rise of artificial intelligence, advocating that machines shouldn’t be made to replicate human behavior.
  • “I don’t think we should make machines like humans,” Ma said.
  • “The third technology revolution may cause the Third World War,” Ma told CNBC.

Alibaba founder Jack Ma thinks artificial intelligence will revolutionize the work week, and make it shorter for humans
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AI Acquires Spatial Reasoning Abilities, in a Victory for Our Machine Overlords

#AI: AI Acquires Spatial Reasoning Abilities, in Another Victory for Our M... #Innovation

  • In a pathbreaking paper published last week, DeepMind revealed fresh inroads towards the creation of an artificial general intelligence that uses spatial reasoning – what might be likened to the holy grail of computer science and the source of interminable angst for Stephen Hawking and Elon Musk.
  • The focus of the DeepMind paper concerns spatial reasoning, in particular the ability to grasp the relation of objects to each other.
  • The first thing to understand when attempting to parse this latest breakthrough from DeepMind is the difference between narrow artificial intelligence and AGI (Artificial General Intelligence).
  • While this is no doubt an important part of human intelligence, allowing us to master games like chess and for a doctor to read an x-ray and diagnose a bone fracture, among many other things, it’s by no means the whole story.
  • It turns out pattern matching is just one algorithm within a large tool chest of algorithms that make up general intelligence.

In a pathbreaking paper published last week, DeepMind revealed fresh inroads towards the creation of an artificial general intelligence. …
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Jack Ma: Artificial intelligence, machine learning may cause World War III

JACK MA: Artificial intelligence and machine learning 'may cause the Third World War'

  • Alibaba’s chairman and founder, Jack Ma, thinks that new technologies could be a threat to more than just jobs.
  • During an interview with CNBC’s David Faber on Wednesday, Ma said that new technologies like machine learning and artificial intelligence could lead to the third World War.
  • “The first technology revolution caused World War I,” Ma told CNBC.
  • “The third technology revolution may cause the Third World War,” Ma told CNBC at the Gateway 2017 conference.
  • In his estimation, the first World War came on the heels of upheaval caused by the Industrial Revolution which shuffled the economic fortunes of different nations and classes leading to conflict, and similar technologies helped lead to World War II.

Jack Ma thinks that a lot of people could lose their jobs to automation in the coming years, and this could be a serious geopolitical issue.
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