UK supports AI-based insurance technology to detect fraud

The UK government has announced £13m ($16.7m) in funding to support 40 artificial intelligence (AI) and data analytics projects to enhance productivity and improve customer service. The projects include an online "bot" for quick legal advice, voice recognition technology to detect fraudulent insurance claims, and AI software to review business expenses. Being developed by Intelligent Voice, Strenuus and the University of East London, the AI solution will combine AI and voice recognition technology to detect and interpret emotion and linguistics to assess the credibility of insurance claims. Insurance fraud cost the UK £3bn in 2017, which is equal to £10,400 per fraudulent claim, and costing consumers an additional £50 per policy. Another project is an analysis tool, which uses a 3D image recognition system to evaluate images captures by drone.