AI set to revolutionise banking, insurance sectors

Enhance operational efficiency, improve time-to-market, enable a more intelligent way to sell and service, and more. During the last five years, industrial use of AI – in terms of interest, investment, ideation and implementation – has risen exponentially. The proof of the pudding is in the eating. This can be validated through how a leading health insurance startup leveraged AI by using data and software to build clinical profiles of people to identify gaps in care. These gaps in care were filled with visits and free choice of doctors for patients to avoid costly hospital stays. Similarly, a life insurance startup used AI to generate quotes for accident death claims which simplified sign-up in less than 2 minutes. There are several such instances that fortify AI as a technology that would revolutionise businesses and the world at large.