AI Articles and Analysis about Process automation

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Although it's clear that AI is only beginning to make its way into the insurance sector, Accenture estimates that big investments in AI could increase the annual profitability of insurers by 20%.

Accenture forecasts that growth in the AI healthcare market is expected to reach $6.6 billion by 2021 from $600 million in 2014, growing at an annual compound rate of 40%. We've covered AI in healthcare extensively on TechEmergence, but in this report we'll be looking at four European companies offering more niche solutions for both business and consumers in the healthcare space. We found that these solutions are intended to help CPG companies with at least one of the following business problems:

Finding the right people to do a job has always been a problem, especially when it requires a high level of expertise. Hiring professionals (84%) are relying more and more on social media to find the right talent, and B2B executives often look to LinkedIn for leads when it comes to finding the right companies to provide crucial services. It is no wonder that people and companies hoping to catch their attention make a point of putting up a robust profile on LinkedIn. However, businesses looking for companies to provide artificial intelligence services need to look at these profiles carefully.

Episode Summary: In this episode of AI In Industry, we interview Nick Possley, the CTO of a company called AllyO, based in the San Francisco Bay area. We speak with Nick about where artificial intelligence and machine learning are playing a role in recruiting today and how picking the right candidates from a pool is in some way being informed by artificial intelligence.

KPMG estimated the size of the automotive insurance is expected to shrink by 70% due to the rise in demand for autonomous cars and the shift in liability then being placed on the car manufacturer. With the rise of AI in most sectors, it follows that AI would find its way into the automotive insurance world. AI may allow car insurance companies to keep up with an evolving consumer base that is looking for faster service, faster payouts, and policy prices tailored to them.

Robotic process automation, or RPA, is a technology used across multiple industries to automate business processes. RPA software involves what are known as "software robots" to handle repetitive tasks traditionally handled by human employees. That said, there are no actual robots involved in the way one might see in manufacturing or heavy industry.

The International Financial Reporting Standards (IFRS) and Financial Accounting Standards Board (FASB) have introduced new financial and accounting standards which require financial institutions to compile all their lease agreements and accounting reports electronically. These new standards may require significant changes to a financial institution's lease and contract management processes.