The annual production of data follows an exponential curve, the assimilation by a person or even by a group of persons of this data is no longer possible. To get the most out of it, it is necessary to be helped by computers. But as this data is mostly unstructured, classical algorithms are unable to do this job. Only Artificial Intelligence and in particular NLP with Sentiment Analysis can do it. We created ElligencIA with the aim of giving meaning to this ocean of data and taking advantage of this collective intelligence. ElligencIA, operational since January 1st 2021, is an AI consulting and solutions company for the BFSI.

For those of you that can remember the 80s TV series Knight Rider, it was about a guy and his self-driving car, which had an Artificial Intelligence called KITT and some cool secret agent-like gadgets (for you millennials….think Google Car with Amazon Alexa built by James Bond's Q). The hero of the show, Michael Knight could connect and talk with the car via his smartwatch and give KITT some instructions on how to stop the bad guys – though from time to time the car would disagree with him and do what it felt was statistically better. Today the technologies of science fiction from Knight Rider are fast becoming mainstream, and the insurance industry is faced with a glut of new issues and challenges caused by the ever evolving world of connected devices, artificial intelligence, and autonomous technology. Consider a scenario where KITT makes a decision and causes a car accident that results in an insurance claim.