Generative AI in Insurance - Insurance GPT Ft. Dr. Kamal Ali (Simplifai)
Generative AI, especially large language models (LLMs) like GPT-3, has shown incredible potential across numerous sectors. The applications are vast and diverse, from aiding in content creation and translation to assisting in customer service and generating code. A one-size-fits-all solution does not exist; therefore, different sectors are creating custom GPT models tailored to their unique requirements. One such sector is insurance, which deals with vast amounts of data and legalities, particularly for companies with international clients. These companies must comply with the legal frameworks of each country and handle significant paperwork.
Furthermore, the confidential nature of their data necessitates robust data handling and privacy solutions. In this episode of "ProjectPro Industry Talks," our Co-founder, Binny Mathews, converses with Dr. Kamal Ali, an AI expert with over 30 years of experience, about applying generative AI in insurance industry. Dr. Ali discusses how AI has evolved from rule-based systems to statistical learning and finally to powerful models like deep learning and transformers. He then elaborates on how his company, Simplifai, has fine-tuned a domain-specific language model called "Insurance GPT" to assist claim handlers in processing auto insurance claims. Join Binny and Dr. Kamal as they discuss generative AI use cases in insurance sector and the latest significant developments in the generative AI field.
For more details on this episode, visit our dedicated podcast page - https://bit.ly/3BB54GG
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TIMESTAMP
00:00 Introduction to Dr. Kamal Ali
03:05 Introduction to Simplifai
04:00 From AI to ML to LLM
10:39 GPT to InsuranceGPT or IGPT
15:33 Large Language Models for Insurance
16:36 IGPT Assisting Claim Handlers
21:45 Boundaries of GPT's Language Understanding
23:56 IGPT Vs GPT4
25:28 Open Source Vs. Managed Services
26:24 Optimizing Data Volume for Training LLMs
27:42 Effective Clause Mapping for LLMs
29:40 Workflow Insights into IGPT
33:25 AI-Powered Search Engines
40:50 Exploring GenAI Progress & Societal Implications
46:12 Conclusion
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