Japanese insurer Fukoku Mutual Life Insurance Co. has announced plans to replace 30% of its payment assessment department with an artificial intelligence system; the insurance company has partnered with IBM for use of IBM's Watson; the system will analyze and interpret medical documents for insurance payments; the company estimates it will save approximately 140 million yen ($1.19 million) per year by utilizing the new system; other insurance companies also exploring artificial intelligence for similar types of work include Dai-ichi Life Insurance Co., Japan Post Insurance Co. and Nippon Life Insurance Co. Source
Artificial intelligence company, Flamingo, has listed on the Australian Securities Exchange and partnered with online lender, DirectMoney; the company seeks to help increase the sales conversion rate of online customers through web chat, web forms and artificial intelligence that guides customers through an online purchase. Source
Happy New Year everyone. As I do every year at this time I make a few predictions for the year...
MasterCard is launching customizable bots for merchants and banks; they have partnered with Kasisto, the company that created KAI Banking, a conversational AI platform; consumers will be able to manage their money inside Facebook Messenger, asking questions about their accounts, purchase history, spending levels, etc.; transactions will also be able to take place on Messenger with MasterCard’s Masterpass, a digital payment service. Source
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