With increasing global competition, one of the key factors affecting the growth of the garment industry in India is the lower efficiency level. Indian garment factory productivity levels are relatively low when compared to countries such as Turkey, China, and Bangladesh. One of the major reasons responsible for lower efficiency is that Indian garment factories generally have orders of shorter runs, which results in multiple and frequent style changeovers.
Experts believe that Artificial Intelligence (AI) and Machine Learning (ML) have both negative and positive effects on cybersecurity.
This article explains cybersecurity and its challenges and impact of AI and MI on cybersecurity: cybersecurity professional
Artificial Intelligence is the ability of a machine to think like human, learn and perform tasks like a human.
Know the future of AI, Examples of AI and who provides the course of Artificial Intelligence?
‘AI is a vital part of the fourth industrial revolution and will impact every aspect of people’s life’- Fei Fei Li, Professor at Stanford University.Artificial Intelligence has been one of the most reformative technological inventions in the history of humankind as it has made information systems more adaptive for humans.
Over the years, AI has played a definitive role in redefining different industry sectors & sections and the insurance sector in this context has a similar story as well.We need no superlative analysis to understand the importance of medical insurance, especially in the present turbulent times of the global pandemic.
Artificial Intelligence (AI) and Machine Learning (ML) have proved to be a vital cog that has streamlined end-to-end claim settlement, thereby increasing customer satisfaction.
The mediclaim management process can now be done faster and better with fewer or no errors.Gartner, in 2016, predicted that almost 1/3rd of the companies on a global level would use AI in at least one aspect of their sales process by 2020.
Moreover, there have been cases where the mediclaim insurance companies have instigated investigative operations to find the genuineness of the claim done by the policyholder.
Through in-depth data analytics, insurers can automate the process of fraud detection.It helps them to pre-assess the claims while simultaneously automating the damage evaluation process.After understanding the changes in brief that Artificial Intelligence (AI) and Machine Learning (ML) has brought in the insurance sector, we now dig deep to see the role these two techniques play.Role of AI and ML in the health insurance sectorThe expansion of AI and ML in different industry sectors, especially in the last decade or so has opened new avenues for the insurance industry and has allowed the insurers to provide a better customer experience.
