CIO Business Intelligence

OCTOBER 3, 2024

CIOs of many of the largest banks, financial firms, and insurance giants will likely continue to rely on big iron for the foreseeable future — especially if additional AI capabilities on the mainframe reduce their inclination to re-platform on the cloud. billion in 2015 to less than $6.5 platform running on the cloud makes sense for Ally.”

Machine Learning 140

Machine Learning Experimentation Insurance Modeling 140

Dataiku

APRIL 1, 2024

Innovation is difficult to achieve within insurance firms as evidenced by excessive levels of paperwork and processes customers are required to complete to make a claim or sign up for a new policy.

Insurance 45

Insurance Experimentation Testing 45

CIO Business Intelligence

DECEMBER 11, 2024

Research from IDC predicts that we will move from the experimentation phase, the GenAI scramble that we saw in 2023 and 2024, and mature into the adoption phase in 2025/26 before moving into AI-fuelled businesses in 2027 and beyond. So what are the leaders doing differently?

ROI 59

ROI Experimentation Insurance Strategy 59

CIO Business Intelligence

MAY 1, 2024

Pilots can offer value beyond just experimentation, of course. McKinsey reports that industrial design teams using LLM-powered summaries of user research and AI-generated images for ideation and experimentation sometimes see a reduction upward of 70% in product development cycle times.

Cost-Benefit 143

Cost-Benefit Metrics Insurance Measurement 143

CIO Business Intelligence

DECEMBER 7, 2023

Over the last year, generative AI—a form of artificial intelligence that can compose original text, images, computer code, and other content—has gone from experimental curiosity to a tech revolution that could be one of the biggest business disruptors of our generation. Where will the biggest transformation occur first?

Insurance 89

Insurance Experimentation Finance Data Governance 89

CIO Business Intelligence

APRIL 24, 2024

“What I’ve always tried to do is go where the energy and value is, and find the one or two willing partners in the business who want to start something and make it big,” says Christopher Paquette, chief digital transformation officer at Allstate Insurance. But that could change. “I And that’s just the start.

Sales 128

Sales Finance Experimentation Cost-Benefit 128

CIO Business Intelligence

FEBRUARY 16, 2024

These HCM services include applicant tracking, compensation, talent, and learning management, as well as insurance and retirement services. Still, ADP’s long-term experimentation with AI also includes use of Microsoft’s OpenAI Service and Databricks’ AI platforms, Nagrath says. We are still forming [a plan] on how we’re going to do it.”

Digital Transformation 116

Digital Transformation Experimentation Cost-Benefit Machine Learning 116

CIO Business Intelligence

SEPTEMBER 30, 2024

The tool has been adopted by New Jersey, West Virginia, and the US Virgin Islands to help address quality issues and improve data submission to the Centers for Medicare and Medicaid Services (CMS) and Children’s Health Insurance Program (CHIP) Services.

Data Quality 116

Data Quality Experimentation Insurance Statistics 116

CIO Business Intelligence

JULY 27, 2023

“Our approach is one of cautious interest,” says Robert Pick, executive vice president and CIO for Tokio Marine North America, a multinational insurance provider with headquarters in Japan. While Pick is encouraging employees at the insurance company to experiment, he insists their activities be monitored. “In

IT 98

IT Insurance Strategy Risk 98

CIO Business Intelligence

SEPTEMBER 12, 2022

Prioritize time for experimentation. The greatest barrier to innovation is competing priorities and lack of time to innovate, observes Santhosh Keshavan, executive vice president and CIO of financial and insurance services firm Voya. Here, they and others share seven ways to create and nurture a culture of innovation.

Experimentation 133

Experimentation Consulting Technology Machine Learning 133

CIO Business Intelligence

NOVEMBER 2, 2023

Zulfi Jeevanjee, EVP and CIO at Allstate, for example, says the insurance company has been “very diligent” about shutting off CPU usage when not in use. All of our [gen AI] experimentation started, which was something we couldn’t have predicted even six months ago, or a year ago, and so we have seen a spike [in costs] in those areas.

Strategy 140

Strategy Data Processing Experimentation Optimization 140

CIO Business Intelligence

AUGUST 21, 2024

Insurance company Aflac is one company making sure this is the case to maintain human oversight over the AI, instead of letting it act completely autonomously. But multiagent AI systems are still in the experimental stages, or used in very limited ways. “That’s the most difficult thing,” he says.

Risk 136

Risk Insurance Cost-Benefit Software 136

DataRobot Blog

SEPTEMBER 22, 2022

Since 2016, DataRobot has aligned with customers in finance, retail, healthcare, insurance and more industries in France with great success, with the first customers being leaders in the insurance space. . Leading French organizations are recognizing the power of AI to accelerate the impact of data science.

Big Data 52

Big Data Insurance Experimentation Data Science 52

CIO Business Intelligence

AUGUST 1, 2023

There are three departments where CIOs must partner with their CHROs and CISOs in communicating policy and creating a governance model that supports smart experimentation. Rodenbostel suggests, “Leaders must ensure their teams only use these tools in approved, appropriate ways by researching and creating an acceptable use policy.”

Digital Transformation 98

Digital Transformation Unstructured Data Strategy Experimentation 98

CIO Business Intelligence

MAY 16, 2023

The industries these decision-makers represented include insurance, banking, healthcare and life sciences, government, entertainment, and energy in the U.S. It surpasses blockchain and metaverse projects, which are viewed as experimental or in the pilot stage, especially by established enterprises. and tokenization.

Advertising 105

Advertising Recreation/Entertainment Experimentation Data Collection 105

CIO Business Intelligence

OCTOBER 9, 2023

Hyatt’s experimental mindset and listen-first approach are heavily applied to IT’s pursuit of innovation, he says. When Renganathan was spearheading digital at his previous company, Farmers Group Insurance, IT wanted to bring operational excellence to its customer contact management system. He learned that the hard way.

Strategy 137

Strategy Technology Experimentation Testing 137

O'Reilly on Data

MARCH 23, 2023

The last time I had to deal with an insurance issue, I’m not sure I ever talked to a human, even after I asked to talk to a human. ChatGPT offers users a paid account that costs $20/month, which is good enough for experimenters, though there is a limit on the number of requests you can make. But the result was…OK.

IT 348

IT Modeling Testing Risk 348

CIO Business Intelligence

OCTOBER 18, 2023

based online insurer, is developing an LLM-based platform to handle customer requests with far more intelligent and enhanced chatbots. Yet, the intense focus on gen AI has only accelerated experimentation for CIOs and vendors, including Musk, whose xAI will reportedly enter the AI arms race.

Risk 141

Risk Manufacturing Enterprise Technology 141

CIO Business Intelligence

MARCH 6, 2023

But this affords our teams the opportunities to grow as a professional community and to be highly engaged — not only between themselves but with the business.”

IT 140

IT Strategy Cost-Benefit Consulting 140

Cloudera

AUGUST 2, 2018

Leading insurers are underwriting policies with lower risks. Data teams in these insurance firms are leading the charge in rebuilding entire business models around data and analytics. When good stuff happens in the background, and we take it for granted, we know the technology behind the scenes is working.

Data Warehouse 51

Data Warehouse Insurance Experimentation Software 51

Decision Management Solutions

DECEMBER 17, 2021

This puts all the data and analytic work into a strong business context and the visual model ensures that these experts can stay involved through implementation, simulation, experimentation and continuous improvement. The post Next Generation Credit Decisioning with Decision Modeling appeared first on Decision Management Solutions.

Modeling 52

Modeling Visualization Experimentation Risk 52

Domino Data Lab

JANUARY 24, 2019

Enterprises with teams of data scientists select these solutions to enable accelerated experimentation for individuals while simultaneously driving collaboration and governance for the organization. Key features include scalable compute, environment management, auditability, knowledge management, and reproducibility.

Data Science 65

Data Science Marketing Data-driven Statistics 65

Decision Management Solutions

MAY 12, 2021

Let’s start with an easy-to-understand example: processing insurance claims. Best of all, if everyone understands how something is done and can readily access the documentation, they’ll be inspired to find ways to continually improve decision-making—and soon you’ll cultivate a culture of experimentation and innovation.

Experimentation 52

Experimentation Insurance Modeling Management 52

DataRobot

JUNE 23, 2021

In data science , the best results come through experimentation. In regulated industries such as banking and insurance, it’s commonly required that models are documented in detail before they can be approved and used. The new, customized model can take advantage of the existing DataRobot code base for explainability and deployment.

Machine Learning 52

Machine Learning Visualization Experimentation Modeling 52

IBM Big Data Hub

APRIL 18, 2024

While leaders have some reservations about the benefits of current AI, organizations are actively investing in gen AI deployment, significantly increasing budgets, expanding use cases, and transitioning projects from experimentation to production. Audio (56%) : Gen AI call centers with realistic audio assist customers and employees.

Cost-Benefit 89

Cost-Benefit Manufacturing Modeling Interactive 89

Occam's Razor

NOVEMBER 2, 2015

And, through experimentation, what is it that they want on Facebook… Content perfectly targeted at their audience, in the above case to try and provide value to help them do their jobs better. Here's Liberty Mutual Insurance. I have not spoken to Fluke's Sr. 58 people love/hated it out of 4.6 Four point six million!

B2B 167

B2B Metrics Recreation/Entertainment Testing 167

Cloudera

NOVEMBER 25, 2020

As Augmented Analytics is on the rise, a discovery data warehouse is key for not only pharmaceuticals but any businesses that heavily rely on unstructured data, such as healthcare providers, insurance, government, media, various ML and Risk modeling heavy organizations, as well as legal/law enforcement and a variety of auditing services.

Data Warehouse 59

Data Warehouse Unstructured Data Analytics Visualization 59

Ontotext

APRIL 3, 2024

Nimit Mehta: I think that 2024 is going to be a buckle-down year, but, at the same time, we’ll see a rapid explosion of experimentation. For example, when I want to insure some property and want to find out if the CEO has been involved in crime. But my favorite is actionable real-time insights.

Technology 45

Technology Risk Digital Transformation Measurement 45

Corinium

APRIL 25, 2019

Ahead of the Chief Data Analytics Officers & Influencers, Insurance event we caught up with Dominic Sartorio, Senior Vice President for Products & Development, Protegrity to discuss how the industry is evolving. Are you seeing any specific issues around the insurance industry at the moment that should concern CDAOs?

Insurance 150

Insurance Risk IoT Data-driven 150

Occam's Razor

OCTOBER 21, 2013

My most important query is car insurance (surprise!). I can create a report in Google Trends for the query "car insurance" and look at the past 12 months of data for the United States. Controlled experimentation. Here's an example. I'm running the SEO program for Liberty Mutual, Geico, AAA or State Farm.

Optimization 156

Optimization Reporting Metrics Experimentation 156

Occam's Razor

JANUARY 28, 2013

AAA Life Insurance : Truly Customer Centric "Convince Me To Buy" Experience. AAA Life Insurance : Truly Customer Centric "Convince Me To Buy" Experience. I want to buy term life insurance. So I Google term life insurance online quote and spent most of my time with two companies. Where's the CMTB?

Marketing 165

Marketing Insurance Visualization IT 165

Domino Data Lab

FEBRUARY 4, 2019

Spoiler alert: a research field called curiosity-driven learning is emerging at the nexis of experimental cognitive psychology and industry use cases for machine learning, particularly in gaming AI. Ensure a culture that supports a steady process of learning and experimentation. Secondly, because stakeholders. <3 <3 <3.

Data Science 66

Data Science Experimentation Machine Learning Data-driven 66

Occam's Razor

DECEMBER 12, 2016

I was speaking with a massive national insurance company recently. The single biggest limiting factor in your ability to think smart and move fast when it comes to taking advantage of the latest and greatest features is tagging your site. Obviously this is a multi-billion dollar corporation, some rigidity and layers are to be expected.

Analytics 142

Analytics Data-driven Strategy Consulting 142

Occam's Razor

JULY 26, 2010

For example let's say I work at a delightful car / health / spaceship insurance company. Or the Bulletin of Experimental Treatment for AIDS. Then, a little bit more. Far too often in our daily lives we let our job titles limit how deep we go in our analysis. SFAF helps prevention through information sharing and providing services.

Metrics 96

Metrics Measurement Dashboards Reporting 96

CIO Business Intelligence

FEBRUARY 3, 2023

The Queen’s death brings e-commerce innovation Hobbs joined The Royal Mint in January 2020, bringing 20 years of experience from financial services, where he worked for Barclays Bank, Barclaycard, Lloyds Banking Group and Admiral Insurance.

IT 52

IT Experimentation Scorecard Digital Transformation 52

Cloudera

SEPTEMBER 17, 2020

A large oil and gas company was suffering over not being able to offer users an easy and fast way to access the data needed to fuel their experimentation. To address this, they focused on creating an experimentation-oriented culture, enabled thanks to a cloud-native platform supporting the full data lifecycle.

Data Warehouse 81

Data Warehouse Experimentation Dashboards Visualization 81

CIO Business Intelligence

OCTOBER 10, 2024

A medical, insurance, or financial large language model (LLM) AI, built from scratch, can cost up to $20 million. Still, a 30% failure rate represents a huge amount of time and money, given how widespread AI experimentation is today. While Gersch recommends tying AI projects to business goals, she also encourages experimentation.

ROI 135

ROI Experimentation Cost-Benefit Metrics 135