Unpopular opinion: It’s OK to use AI to fight fraud as long as your data is good, your precision threshold is very high, and appeals are easy. It seems like it is almost never used in this way when people try to save money, sadly.
Current AI is incapable of providing that level of good data and high precision, it is uncertain if the types of AI being developed now are even capable of ever achieving that without fundamentally changing how they work.
i work in Management at an insurance firm and thats exactly what we do (use AI for fraud prevention). we have no interest in denying rightful coverage because in the longrun it can cost you more than just paying them outright (lawyer costs, interventions, bad PR, etc…) if you dont work in the industry, you have NO idea how many people try to cheat. its ridiculous.
Unpopular opinion: It’s OK to use AI to fight fraud as long as your data is good, your precision threshold is very high, and appeals are easy. It seems like it is almost never used in this way when people try to save money, sadly.
Current AI is incapable of providing that level of good data and high precision, it is uncertain if the types of AI being developed now are even capable of ever achieving that without fundamentally changing how they work.
And his AI is said to have 90% error rate which denies valid claims 90% of the time…
Define AI. Then you’ll see that it has been used to fight fraud for decades.
i work in Management at an insurance firm and thats exactly what we do (use AI for fraud prevention). we have no interest in denying rightful coverage because in the longrun it can cost you more than just paying them outright (lawyer costs, interventions, bad PR, etc…) if you dont work in the industry, you have NO idea how many people try to cheat. its ridiculous.