Japan: Insurance company is laying off its employees and replacing them with Artificial Intelligence
Page 1 of 1
Japan: Insurance company is laying off its employees and replacing them with Artificial Intelligence
The year of AI has well and truly begun, it seems. An insurance company in Japan announced that it will lay off more than 30 employees and replace them with an artificial intelligence system.
The technology will be based on IBM's (IBM, +1.35%) Watson Explorer, which is described as having "cognitive technology that can think like a human," reports the Guardian. Japan's Fukoku Mutual Life Insurance said the new system will take over from its human counterparts by calculating policy payouts.
The company said it hopes the AI will be 30% more productive and aims to see investment costs recouped within two years. Fukoku Mutual Life said it expects the $1.73 million smart system—which costs around $129,000 each year to maintain—to save the company about $1.21 million each year. The 34 staff members will officially be replaced in March.
http://fortune.com/2017/01/06/japan-artificial-intelligence-insurance-company/
The technology will be based on IBM's (IBM, +1.35%) Watson Explorer, which is described as having "cognitive technology that can think like a human," reports the Guardian. Japan's Fukoku Mutual Life Insurance said the new system will take over from its human counterparts by calculating policy payouts.
The company said it hopes the AI will be 30% more productive and aims to see investment costs recouped within two years. Fukoku Mutual Life said it expects the $1.73 million smart system—which costs around $129,000 each year to maintain—to save the company about $1.21 million each year. The 34 staff members will officially be replaced in March.
http://fortune.com/2017/01/06/japan-artificial-intelligence-insurance-company/
Guest- Guest
Similar topics
» "laying pipe"
» Artificial intelligence system developed in India, which has correctly predicted the last 3 US presidential races, says Trump will win
» NASA’s Kepler Telescope Discovers a Colossal Artificial Structure Orbiting a Star in Our Vicinity
» Uttar Pradesh: Anti-national Hindutva Chaddiwalahs persist in trying to create an artificial communal divide
» H1 Employees vs. H1 Hiring Companies View
» Artificial intelligence system developed in India, which has correctly predicted the last 3 US presidential races, says Trump will win
» NASA’s Kepler Telescope Discovers a Colossal Artificial Structure Orbiting a Star in Our Vicinity
» Uttar Pradesh: Anti-national Hindutva Chaddiwalahs persist in trying to create an artificial communal divide
» H1 Employees vs. H1 Hiring Companies View
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum
|
|