Artificial Intelligence (AI) is no longer just a faraway concept being speculated about in futuristic stories. Smart machines and computer learning are very real concepts that are already interwoven with many aspects of our daily lives. While some people still fear the unknown future of relinquishing control to emotionless entities, there are some tasks for which logic-based decision making is perfectly designed.
People who have the luxury of amassing jewelry often have to consult an expert to analyze the value of a gem, such as a diamond. There are many factors to take into account, such as the four C’s: carat, cut, clarity, and color. The average eye, even with the right magnifying tools, can’t always be perfect. This is where artificial intelligence comes in. ROSI is the world’s first digital gemologist and it uses a very special system called Watson. Developed at IBM research labs, Watson is a question-answering computer system that is capable of understanding and answering questions posed in natural language. This means it can converse with humans. In addition to using this tool, ROSI incorporates a proprietary algorithm to analyze millions of diamonds worldwide within seconds. The center diamond is then chosen based on millions of calculations and ultimately the multi-dimensional analysis tool is used to offer the best result at the maximum value.
Auto insurance is something that is inevitable for any driver, but the costs can change, depending on certain factors. There are still costly matters that rely on people’s perceptions, such as claims, and it’s often one person’s word against another’s. In addition, many auto insurance providers have to deal with fraudulent claims that lead to lost revenue. Artificial intelligence is now being used to not only save drivers from needless premium increases, but it also prevents cases of fraud. AVA is Metromile’s automated claims assistant. This app can be used in the case of an incident without having to speak to a person. The opt-in sensor data can reconstruct the accident scene to determine where the fault lies and can lead to rapid collision damage compensation.
The Internet of Things (IoT) is another way that AI is influencing our lives. Before this, our computers functioned through a human-to-computer connection. The interconnectedness of computers and digital machines means they now can use unique identifiers to transfer data without requiring humans at all.