In this article, we will discuss the importance of data and their analysis, in order to design efficient and effective artificial intelligence (AI). But first of all, let’s set up an example to help us understand.
A typical problem to solve for a company is to anticipate the needs of their customers. For example, an insurer wants to know which insurance coverage would be most suitable for his client. Several factors can consciously or unconsciously influence the client’s choice of insurance (and also insurer!): Age, education, health, current and future financial situation, short and long-term objectives and so on! With the ability to serve a wide range of clients, it can become difficult for the insurer to have in mind all possible customer scenarios and recommend the appropriate product. Consequently, an AI could be conceived to handle this kind of situation. Assisting the insurer, it could quickly identify the type of client and suggest which insurance and options would suit him best.