Category: Artificial Intelligence

How AI Is Impacting the Future of Insurance

McKinsey & Company, Ramnath Balasubramanian, Ari Libarikian, and Doug McElhaney | May 2018
The insurance industry is on the verge of a seismic, tech-driven shift, according to McKinsey & Company analysts. Artificial Intelligence can deliver on industry expectations through machine learning and deep learning. “In this evolution, insurance will shift from its current state of ‘detect and repair’ to ‘predict and prevent,’ transforming every aspect of the industry in the process,” wrote McKinsey analysts. “The pace of change will also accelerate as brokers, consumers, financial intermediaries, insurers, and suppliers become more adept at using advanced technologies to enhance decision making and productivity, lower costs, and optimize the customer experience.”

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Treasury Releases Report on Nonbank Financials, Fintech, and Innovation

U.S. Treasury | July 31, 2018
On July 31, the U.S. Department of the Treasury released a 222-page report that identifies improvements to the regulatory landscape that will better support nonbank financial institutions, embrace financial technology, and foster innovation. Treasury’s fact sheet for this report provides a summary of the agency’s 80 recommendations that are designed to (i) embrace the efficient and responsible use of consumer financial data and competitive technologies; (ii) streamline the regulatory environment to foster innovation and avoid fragmentation; (iii) modernize regulations; and (iv) facilitate “regulatory sandboxes” to promote innovation.

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Delivering Government Solutions in the 21st Century

Office of Management and Budget | June 21, 2018
On June 21, the Trump administration released this blueprint for implementing a massive overhaul of the federal bureaucracy that touches virtually every federal agency. The blueprint identifies the use of technology—including the use of large data sets and cloud infrastructure—to improve customers’ experience.

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How Railroads Are Using AI to Improve the Customer Experience

ZDNet, Mark Holt | June 20, 2018
Trainline CTO Mark Holt explains how his firm is using artificial intelligence, large data sets and the cloud to improve customers’ experience. AI and Google Voice technology is being used to provide customers rail delay predictions and (future) price predictions.

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