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Top of Mind for Insurance Leadership: New Business Models and Products in a New Digital Era of Insurance

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MORRISTOWN, N.J.--(BUSINESS WIRE)--The digital era shift is realigning fundamental elements of business that require major adjustments from insurers in order for them to survive and thrive, according to a new thought leadership report released today by Majesco (NYSE AMERICAN:MJCO), a global provider of core insurance platform software and consulting services for insurance business transformation. A new digital era of insurance focused on innovation and growth requires platform-based business models and solutions to succeed. The report, A New Business Model for a New Era of Insurance: Digital Insurance 2.0 in the Platform and API Economy, highlights the impacts of the shift to a new age of insurance, Digital Insurance 2.0. Underpinning this new era is the shift to the application programming interface ("API") and platform economy, which consists of key technologies such as cloud computing, open APIs, microservices, ecosystems, and data and analytics, which together help insurers create new business models, products and services, connect everything and, most importantly, create new customer experiences. "The digital age shift is now top of mind for every leadership team and board because it is extending an organization's growth and innovation capabilities," remarked Denise Garth, SVP - Strategic Marketing, Industry Relations and Innovation for Majesco.


IBM Introduces AI OpenScale to Spur Artificial Intelligence Adoption and Transparency

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IBM (NYSE: IBM) today introduced AI OpenScale, a new technology platform that addresses key challenges of artificial intelligence (AI) adoption, such as concerns over how AI applications make decisions, the global shortage of AI skills and the complexities of working with disparate AI tools from multiple vendors. IBM's new technology platform is the first of its kind. It will enable companies to manage AI transparently throughout the full AI lifecycle, irrespective of where their AI applications were built or in which environment they currently run. AI OpenScale can detect and address bias across the spectrum of AI applications, as those applications are being run. As part of AI OpenScale, IBM also will debut NeuNetS, a major scientific breakthrough in which AI builds AI – making it possible to create complex, deep-neural networks from scratch.


Audi optimizes quality inspections in the press shop with artificial intelligence

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In addition to visual inspection by employees, several small cameras are installed directly in the presses. They evaluate the captured images with the help of image-recognition software. This process will soon be replaced by an ML procedure. Software based on a complex artificial neural network operates in the background of this innovative procedure. The software detects the finest cracks in sheet metal with the utmost precision and reliably marks the spot.


'Global Enterprises Adopting IBM Cloud Private' - SMEStreet: Knowledge & Networking for Growth 'Global Enterprises Adopting IBM Cloud Private'

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IBM (NYSE: IBM) has announced that in less than 12 months since the release of IBM Cloud Private – an open source technology that brings cloud capabilities to organizations running on-premises IT systems – hundreds of leading enterprises worldwide have turned to the platform to help modernize their operations. They include New Zealand Police, China's Fuyao Group, Japan's Aflac Insurance, Turkey's credit bureau Kredi Kayıt Bürosu and Brazil's Fidelity National Information Services. Building on this momentum, IBM is announcing a slate of new advanced features for the on-premises private cloud platform, including the integration of powerful AI capabilities such as IBM Watson Assistant and IBM Watson Speech-to-Text, as well as support for additional public clouds, including the IBM Cloud. The updates provide clients with even more choice and flexibility for their IT journeys, and, for the first time, bring the power of IBM's Watson AI behind the company firewall. "The cloud has evolved in a very short time from being a way to cut costs to a platform for business transformation and innovation," said Robin Hernandez, Director, IBM Private Cloud Offering Management.


Elastic, search company for Uber and Tinder, nearly doubles in IPO

ZDNet

Shares of newly public search technology firm Elastic N.V. are soaring in Friday trading, opening up nearly double from their IPO price and holding onto gains an hour after the open. Elastic, based in Mountain View, Calif., (though it is officially incorporated in The Netherlands), saw its offering of 7 million shares many times over-subscribed. The price last night, $36, was above an expected offering range of $33 to $35. That range was itself up from an initial expected range of $26 to $29. The offering will raise $252 million for the company, based on its selling 7 million shares.


H2O.ai Named "Top 3 Artificial Intelligence (AI) and Machine Learning (ML) Software Solution" by Enterprise Management Associates

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H2O.ai, the open source leader in AI, has been named a "Top 3 Vendor" in Artificial Intelligence and Machine Learning by industry analyst firm Enterprise Management Associates (EMA) in its latest report titled "EMA Top 3 Enterprise Decision Guide for Artificial Intelligence (AI) and Machine Learning (ML)," based on the innovations of its enterprise-ready automated machine learning platform, H2O Driverless AI. The new report from EMA provides guidance for enterprises on how to optimally leverage today's AI and ML capabilities depending on their individual situation and priorities, specifically highlighting the top three enterprise software products in the industry it recommends should be included in product evaluations. Each of the Top 3 Vendors EMA were chosen based on end user research, market analysis, technical product reviews and expert interviews to provide enterprise customers with pragmatic guidance to optimally benefit from AI and ML. In the EMA report, H2O.ai is specifically recognized for "its vision of creating an AI and ML tool that ultimately aims to allow almost everyone within the business to create their own predictive models," and how that vision is executed in H2O Driverless AI. The automated machine learning platform empowers data scientists or data analysts to work on projects faster and more efficiently by using automation and state-of-the-art computing power to accomplish tasks that can take humans months in just minutes or hours by delivering automatic feature engineering, model validation, model tuning, model selection and deployment, machine learning interpretability, time-series, NLP and automatic pipeline generation for model scoring.


Tamr Preps for Growth with $18M Round

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Tamr today announced that it has raised $18 million in venture capital to help it grow its business, which is focused taking a "machine-driven, human-guided" approach to taming messy data. The funding round, which was Tamr's fourth, brings the five-year-old Cambridge, Massachusetts company's total funding to $59.4 million, according to Crunchbase. It will be the company's last, Tamr co-founder and CEO Andy Palmer told the Boston Business Journal. Tamr, which originated as a research project in co-founder Mike Stonebraker's graduate class at the Massachusetts Institute of Technologies, was spun out of MIT's Computer Science and Artificial Intelligence Laboratory (CSAIL) in 2014 with a novel approach to data preparation. The company subsequently emerged from stealth later that year to enter the market for data preparation software, which Gartner says attracts $780 million per year in spending.


Top 200 DX Sponsors of @ExpoDX in 2017 @CloudEXPO #AI #IoT #DevOps #SmartCities #FinTech #DigitalTransformation

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DXWorldEXPO LLC announced today the Top 200 Digital Transformation Companies that sponsored, exhibited, and presented at CloudEXPO DXWorldEXPO 2017. The list was published in alphabetical order. DXWorldEXPO LLC, the producer of the world's most influential technology conferences and trade shows has also announced today the conference tracks for CloudEXPO DXWorldEXPO 2018 New York. DXWordEXPO New York 2018, colocated with CloudEXPO New York 2018 will be held November 11-13, 2018, in New York. Digital Transformation (DX) is a major focus with the introduction of DXWorldEXPO within the program.


The Right AWS Services @CloudEXPO @BMCSoftware #AI #AWS #TrueSight

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Without a clear strategy for cost control and an architecture designed with cloud services in mind, costs and operational performance can quickly get out of control. To avoid multiple architectural redesigns requires extensive thought and planning. Boundary (now part of BMC) launched a new public-facing multi-tenant high resolution monitoring service on Amazon AWS two years ago, facing challenges and learning best practices in the early days of the new service. In his session at 19th Cloud Expo, Michael Moran, a Senior Architect, TrueSight R&D, at BMC Software, shared those lessons learned and how to balance cost control with the many choices of service, storage, and compute paradigms. Speaker Bio Michael Moran is a Senior Architect, TrueSight R&D, at BMC Software.


ALTEN Calsoft Labs signs partnership with Machine Learning Company – Bayestree Intelligence

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Today, ALTEN Calsoft Labs – An ALTEN Group Company, a leader in Technology Consulting and Product Engineering, has announced its partnership with a Machine Learning Company Bayestree Intelligence. The partnership will help transform and automate IT Service Management of ALTEN Calsoft Labs' enterprise customers based out of USA, Europe and Asia Pacific. ALEN Calsoft labs (ACL) is a digital transformation company leveraging AI, ML and IoT to create new solutions and services that are opening up business opportunities and creating new business models for customers. Bayestree has a unique product'Sentient' that assists Tier-1 product and business support teams, resolve customer issues automatically using advanced machine learning (ML) techniques. Sentient analyses historical data issues, passed resolutions as well as data collected from other related sources to learn, model and resolve.