"On April 13th Elon Musk, the boss of Tesla, an electric-car firm, said that the production problems which have dogged his company’s high-tech factory were partly the result of an over-reliance on robots and automation. “Humans are underrated,” he tweeted. economist.com, IKEA furniture and the limits of AI, April 21st, 2018
Having processed over 1.3 million P&C claims through its 360SiteView digital claims platform 360Globalnet has seen the limitations of AI. Typically, AI would let 30% plus of household and contents claims through which are actually fraudulent.
Combining textual, photo, video data with the human intuition and cognitive powers of claims handlers avoids that.
Better still, typically 35% of claimants walk-away once they realise they are rumbled.
Apply this to business as a whole and it will take a decade for AI to have widespread use. Not to say there are limited but valuable applications today. But the word is flat-pack AI is over-hyped when other smaller digital steps will yield higher returns.
"The research also holds a serious message. It highlights a deep truth about the limitations of automation. Machines excel at the sorts of abstract, cognitive tasks that, to people, signify intelligence—complex board games, say, or differential calculus. But they struggle with physical jobs, such as navigating a cluttered room, which are so simple that they hardly seem to count as intelligence at all." economist.com, IKEA furniture and the limits of AI, 21st April' 2018
Mike Daly
