We are excited to bring Transform 2022 back in-person July 19 and virtually July 20 - 28. Join AI and data leaders for insightful talks and exciting networking opportunities. Eleven years after IBM Watson wowed the tech world by beating two of Jeopardy's biggest champions, the days of tackling "moonshot" AI goals outside the research lab are over, IBM chairman and CEO Arvind Krishna told reporters yesterday, ahead of the annual IBM Think conference in Boston. "I don't want us to work only on'moonshots,'" he said. "That should be research you work with in the lab." Instead, he said IBM's focus will be firmly on AI projects that provide near-term value for clients, adding that he believes generalized artificial intelligence is "still a long time away."

U.S. insurers can unlock $7 billion in total value -- 10-15% of operating expenses -- in 18 months by using artificial intelligence to automate certain core administrative functions, according to a new study from Accenture. The savings could stem from streamlining core functions for payers across the board, including customer service, billing, enrollment, claims and quality and compliance. Automating these functions for an individual health plan would bring in $1.5 million in operating income for every 100 full-time employee by the end of next calendar year for large and small payers alike, the report concludes. In 2017, 72% of payer executives said that, within the year, AI would be among the top three strategic priorities for their organizations, according to a separate Accenture survey, adding to industry buzz around the technology's potential. The top three current areas to target for near-term value were anticipating and resolving customer questions, improving the benefits loading and design process and accelerating prior authorization and clinical review of claims.