Colville Wood & David Fearne: Cognizant: The power and surprises of generative AI in practice (283)

InsTech - insurance & innovation with Matthew Grant

InsTech

Entrepreneurship, Investing, Business

4.8 • 50 Ratings

🗓️ 10 January 2024

⏱️ 31 minutes

🔗️ Recording | iTunes | RSS

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Summary

Cognizant is a global professional services company helping companies across different industries with generative AI. Henry Gale is joined this week by Colville Wood, Chief Technology Officer for Insurance (UK&I and EMEA) and David Fearne, Global Director of Generative AI at Cognizant. The discussion covers how Generative AI has the potential to automate manual tasks, optimize processes, and provide valuable insights for underwriters in the insurance industry. Cognizant encourages companies to start exploring the possibilities of generative AI and see how it can improve their operations. Key talking points include: Generative AI in the workplace - accelerator and assistant Data, privacy and security considerations Helping underwriters do their work better The key to successful implementation is balance If you like what you're hearing, please leave us a review on whichever platform you use or contact Matthew Grant on LinkedIn. Sign up to the InsTech newsletter for a fresh view on the world every Wednesday morning. To find out more about InsTech, our membership and offerings visit www.instech.co or contact us [email protected] Continuing Professional Development This InsTech Podcast Episode is accredited by the Chartered Insurance Institute (CII). By listening, you can claim up to 0.5 hours towards your CPD scheme. By the end of this podcast, you should be able to meet the following Learning Objectives: Identify how Generative AI can help streamline workflows in insurance, particularly for underwriters Summarise what you need to take into consideration before implementing Generative AI into the workplace Specify examples where insurers could implement Generative AI to accelerate their processes If your organisation is a member of InsTech and you would like to receive a quarterly summary of the CPD hours you have earned, visit the Episode 283 page of the InsTech website or email [email protected] to let us know you have listened to this podcast. To help us measure the impact of the learning, we would be grateful if you would take a minute to complete a quick feedback survey.

Transcript

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0:00.0	Good morning, good afternoon, wherever you are. Matthew Grant here, and welcome back. Now,
0:12.6	today we are back on the topic of generative AI with Cognosin, and we're going to be talking
0:17.0	to Colvillewood and David Fern, or Henry Gail is behind the microphone. This week,
0:21.1	see you're going to be hearing from them. Now, very glad to hear when I reviewed this,
0:25.3	the Congressman don't believe that Gen.Tive AI can replace humans in their entirety. It looks
0:30.5	like we're all going to have a job for a while. But there are a number of areas where we are
0:33.8	starting to see Gen.Tive AI starting to offer more benefits, in particular this whole
0:37.9	area about freeing up time for underwriters to focus on higher value tasks, that is, to actually
0:43.3	get on and do the underwriting. Now, Congressman talked about this being an accelerator and in the
0:48.5	system, but of course, we still need to consider things such as data privacy and security
0:53.3	when using generative AI.
0:54.9	So you're going to hear more about that from the team from Congolson and Henry.
0:58.5	That's all you're going to be hearing from me.
0:59.8	That's enough.
1:00.5	Enjoy this.
1:04.5	Colville and David, great to have you here.
1:10.1	Welcome to the podcast.
1:11.0	Thank you very much. Good to be here.
1:12.5	Cognisant is one of the largest global professional services companies.
1:15.4	You're helping companies across lots of different industries with their technology.
1:18.9	And in this podcast, we're talking about generative AI, which is the technology everyone's talking about.
1:24.1	Everyone knows it as the tech behind chat, GPT.
	...

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