Insurance Academy
KeyStone, Algorithm &
Artificial Intenigent
Algorithms are mathematical instructions and are used from calculations and data processing to automated reasoning.
And more specifically, Algorithm is a finite series of actions, strictly defined and executable in finite time, aimed at solving a problem.
Thus, the term Algorithm is used to denote methods used to solve problems.
The oldest algorithm was Euclid's algorithm for finding the maximum common divisor of two numbers or the so-called Eratosthenes sieve for finding prime numbers from 1 to n
An algorithm can use multiple options which can be done with a nested structure.
This practically means making use of the treaty:
"If this is true… then it is true" many times.
As early as 1952, Allan Turing published a set of equations that sought to explain the patterns we see in nature, from the dotted stripes that adorn the back of a zebra to the spiral leaves on a plant stem.
Since then, thousands of algorithms have been created that measure the strangest things, proving correlations that the mind cannot comprehend.
Most of these Algorithms are academic in nature and rarely find application in everyday life.
In recent years, however, a combination of data and algorithms has been created, with the aim of developing Artificial Intelligence tools.
Artificial Intelligence (AI) is a set of algorithms that can deal with unforeseen circumstances.
It differs from Machine Learning (ML) - Machine Learning, in that it can be powered by Unstructured Data and work.
A traditional algorithm used in ML, can be developed into an intelligent AI algorithm and use Unstructured Data, as long as the company wants to evolve.
In conclusion
Using Artificial Intelligence (AI) - Artificial Intelligence the insurance industry, can gain many benefits such as targeted productivity, improved customer experience, effective claims management and can certainly achieve (if it utilizes artificial intelligence), potential annual global production of $ 1 trillion.
The adoption of artificial intelligence is gaining momentum in all industries. With customers embracing digital technology at a faster pace, insurers need to step up and transform their processes with cutting-edge technologies such as AI.
