Risk and insurance

Machine learning (ML) will read through forms and review voice and video recordings, highlighting where the reviewer’s attention should be focused, how a call should be routed, or simply if an attachment has been forgotten, details Oliver Wyman’s Townson, boosting efficiency and fairness in credit risk, insurance, human resources, and surveillance.

“From chatbots to order processing, AI is currently used to automate customer-facing processes;Additionally, some businesses will use it to enhance customer service by actually making procedures more open and objective.

Even though quantifying fairness can sometimes be a painful first step, according to Townson, advances in quantifying fairness and mitigating bias enable AI-based approaches to be more equitable, transparent, and objective than previous human attempts.