PODCAST:The AI in Business Podcast
TITLE:Scaling Generative AI in the Enterprise - with Harsh Kar of Genpact
DATE:2024-01-15 00:00:00
URL:
MODEL:gpt-4-gizmo
In the "AI in Business" podcast episode titled "Scaling Generative AI in the Enterprise - with Harsh Kar of Genpact," dated January 15, 2024, host Matthew DeMello from eMERGE Technology Research speaks with Hayden Kirkpatrick, Vice President of Innovation and Venture Capital at State Farm. The episode, with a runtime of 22 minutes, delves into the evolving role of AI in the insurance industry, particularly focusing on the concept of "know your asset" workflows and their implications for the short-term and long-term future of insurance.
Hayden Kirkpatrick discusses the insurance industry's transition towards using AI for compliance in claims and underwriting processes. He emphasizes the shift from traditional methods to AI-enhanced systems that focus on verifying customer information right at the service funnel's entrance. This approach, akin to "know your customer" functions in financial services, is adapted in insurance as "know your asset."
The conversation explores how insurance companies are leveraging AI to streamline workflows, enhance cybersecurity, minimize risk, and understand customer assets more thoroughly. For auto insurance, data like vehicle identification numbers (VINs) provide detailed information about the car being insured. In contrast, home insurance presents more challenges, as the data about a house and its
