How Artificial Intelligence Could Democratize Financial Services In Asia

The Nikka platform is only the beginning for ADDO AI, which launched in January. Khanna said they'll expand this initiative into Bangladesh and the Philippines as well. In the latter, they'll use AI to streamline the complex insurance processes related to the country's many typhoons. Depending on its strength, a typhoon may only wipe out a portion of a farmer's fields. But insurance companies won't pay out on policies until they've conducted loss assessments, which quickly add up when you consider that many small farmers own only a hectare of land and there can be up to 20 typhoons a year, Khanna said.