InsurTech Magazine July 2020 | Page 85

Cognition also brings distinct advantages to points of business that require significant human judgement . In Bhandari ’ s Global Chief Data Office , for example , several projects utilise IBM ’ s Data and AI Platform . “ As an example ,” he adds , “ take a role within our business , which essentially revolves around an employee having to classify whether a client that we ’ re working with is a government-owned entity . We hold ourselves to very high standards , and so that kind of classification and judgement is crucial . We have to get it right . Previously , that classification would have involved research , communication with other parties and eventually arriving at the classification . This is a perfect example of where AI comes into its own . Using our IBM Watson capabilities , we can now access historical data as to how we have previously labelled companies , and we can sift and monitor real-time information about those same businesses .
“ That capability makes the decision more quickly , accurately and improves efficiency of the work ,” he continues . “ As an example , it may be at a lower
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