How Artificial Intelligence Is Reshaping the Insurance Industry

In 1997, IBM's Deep Blue earned itself the title of becoming the first computer in the world to beat a chess champion when it defeated Russian grandmaster Garry Kasparov. More than a decade later, in 2011, the computer giant's question-answering system Watson won the quiz show "Jeopardy!" Intelligent machines had arrived and finally given rest to the chatter around artificial intelligence (AI) that started in Dartmouth College, USA in 1956. There was no more disputing the transformative value of AI and the role it could play in helping businesses create customised products and engage with their clients more effectively. AI systems basically help perform tasks such that if the same task was to be carried out by humans, it would take decidedly longer.