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Insurers struggle to manage profitability while trying to grow their businesses and retain clients. Large, well-established insurance companies have a reputation of being very conservative in their decision making, and they have been slow to adopt new technologies.
IBM can help insurance companies insert generative AI into their business processes IBM is one of a few companies globally that can bring together the range of capabilities needed to completely transform the way insurance is marketed, sold, underwritten, serviced and paid for.
Additional challenges, such as increasing regulatory pressures – from the General Data Protection Regulation (GDPR) to the Health Insurance Privacy and Portability Act (HIPPA) – and growing stores of unstructureddata also underscore the increasing importance of a data modeling tool.
IBM, a pioneer in data analytics and AI, offers watsonx.data, among other technologies, that makes possible to seamlessly access and ingest massive sets of structured and unstructureddata. A leading insurance player in Japan leverages this technology to infuse AI into their operations.
The rule laid out an interoperability journey that supports seamless data exchange between payers and providers alike — enabling future functionalities and technically incremental use cases. These requirements enable the exchange of important data between healthcare payers and providers.
Bigdata is a massive opportunity. We’ve all seen the bigdata statistics: every minute 1,820 TB of data is created, 204m emails and 11 million instant messages are sent, 700,000 Google searches are made and businesses receive 35,000 Facebook likes. Looking for a needle in a haystack couldn’t be easier!
Organizations looking to increase adoption of ML are turning to cloud data warehouses that support new, open data formats to catalog, ingest, and query unstructureddata types.
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By infusing AI into IT operations , companies can harness the considerable power of NLP, bigdata, and ML models to automate and streamline operational workflows, and monitor event correlation and causality determination. AIOps is one of the fastest ways to boost ROI from digital transformation investments.
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