“In future Human workers will be replaced by Machines” this saying has came true. Now the future is here. A Japanese Insurance firm has made it real by replacing 30 workers with Artificial Intelligence system that can calculate payouts to policyholders.
The system consists of IBM’s Watson Explorer,which according of the firm consist of possesses “cognitive technology that can think like a human”, enabling it to “analyse and interpret all of your data, including unstructured text, images, audio and video”.
Use of AI will reduce time to calculate Firm’s payouts. As of 2015’s reports half of Japan’s work will be carried out by robots in 2035 and it has started from now.
The ministry is also looking forward to this technology that will help in reducing the punishingly long hours bureaucrats spend preparing written answers for ministers. If this experiment succeed then this technology could be adopted by government firms and agencies also.
Noriko Arai, a professor at the National Institute of Informatics, told Kyodo news agency:
“AI is not good at answering the type of questions that require an ability to grasp meanings across a broad spectrum”
For example if AI system is asked about the energy-saving polices, it will respond with relevant data and discussion points based on past answers.
However Fukoku Mutual Life Insurance believes that this revolutionary decision will increase 30% of productivity.They also believe that this step will save about 140m yen (£1m) a year after the 200m yen (£1.4m) AI system is installed this month. And they see their investment return in 2 years.