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How Insurance Companies Use Data To Measure Risk And Choose Rates

Smart Data Collective

Here is the type of data insurance companies use to measure a client’s potential risk and determine rates. For instance, the 2000 Honda Civic is the most stolen car in America and the Mitsubishi Mirage (in the 2013-2017 model range) has the most fatal crashes. With the technology available today, there’s even more data to draw from.

Insurance 110
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How companies are building sustainable AI and ML initiatives

O'Reilly on Data

A recent survey investigated how companies are approaching their AI and ML practices, and measured the sophistication of their efforts. On the other hand, we wanted to measure the sophistication of their use of these components. On one hand, we wanted to see whether companies were building out key components.

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Give up those Measures and Metrics to Succeed – Really

Andrew White

The period was between 1961 and 2017, when Hong Kong grew from about a quarter as rich as the UK to almost 40%. If bureaucrats start to measure something, it won’t be long before they start to meddle in it. In data and analytics we all know the phrase, ‘you can’t manage what you don’t measure’. For example, GDP was not tracked.

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What are model governance and model operations?

O'Reilly on Data

A catalog of validation data sets and the accuracy measurements of stored models. Measuring online accuracy per customer / geography / demographic group is important both to monitor bias and to ensure accuracy for a growing customer base. Metadata and artifacts needed for a full audit trail.

Modeling 195
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Accelerating AI at scale without sacrificing security

CIO Business Intelligence

Similarly, in 2017 Equifax suffered a data breach that exposed the personal data of nearly 150 million people. As AI adoption expands across entire enterprises, organizations must implement strong defensive measures and continuously monitor for potential threats as AI is integrated into various environments.

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The IT sector is bringing down Europe all on its own

CIO Business Intelligence

Around 70% of foundational AI models have been developed in the US since 2017 and just three American ‘hyperscalers’ account for over 65% of the global as well as European cloud market. The list of measures he proposes is 170 points long and is presented in roughly 300 pages.

IT 136
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Swiss energy services company uses machine learning to see the future

CIO Business Intelligence

But because electricity consumption was easy to gauge, there was no urgency for measuring current and low voltage power flows. That changed in 2017 when Swiss voters approved an energy act that would reduce the country’s dependency on fossil fuels by 2050. Without real-time power measurements, estimated power values were being used.