Reliance General Insurance is using AI to bring efficiency to claim settlement processes by reducing manual efforts, errors and eliminating every possible manual step. It has introduced ‘RAPID’, equipped with image analytics powered by Microsoft Azure Cognitive Services and Azure ML capabilities, to bring the settlement period down to less than an hour from 10- 12 days for over 60% of passenger vehicles claims to have peripheral damages.
APTransco has deployed artificial intelligence and machine learning models to forecast the next day’s electricity consumption and cover day-ahead electricity demand for every 15 min. This will help them to make decisions on demand and supply, grid management and minimise power purchase cost. APTransco, further, intends to develop more day-ahead forecast models for wind energy, solar energy, market prices, central generating stations surplus and frequency.
BMW has developed a data hub with Amazon’s cloud computing division with the aim to use “big data” to boost efficiency. Data from BMW’s new hub, during the pandemic, enabled it to see which supplier plants had problems. BMW and AWS have been working together since 2015 and have spent 1.5 years to develop the data hub. Over 5,000 BMW employees will be trained to use AWS tech to make better use of data. The hub will use AI and ML to predict consumer demand.
Sankarson Banerjee, CIO, RBL Bank revealed that before moving 40 apps to cloud in 40 days they did homework for about 1.5 yrs on the processes and benefits. The team did not even tell the backed people about the movement and made sure that no one felt the difference. RBL used data migration tools from AWS, Cloud Endure to ensure the transition went seamless. Practising the transition and testing the process beforehand made the project less complex and cumbersome.
Leveraging the power of data, technology and ecosystem collaborations, Mahindra Lifespace is improving sales efficiency with a zero-touch home buying experience. Homebuyers can conduct an on-site virtual walkthrough with AR/VR, showcasing apartment details and online inventory selection. The company has launched its first project ‘Happinest Palghar’ in COVID era with entire operations carried online.
Genpact is using an AI-powered chatbot for better employee satisfaction and self-assessment. AI-powered Amber analyses employees’ sentiments through their conversations with the people, enabling HR team and managers to proactively help the unhappy ones. The chatbot also helps the HR department to predict top performers with a 74 % accuracy. The company also uses AI in its job search portal and to enhance other HR processes.
Ferns N Petals has built a Customer Data Platform to make smart business decisions. FNP, with the help of a consulting firm, built the data engineering, data science and data pipeline. CDP, built on AWS data cloud, uses big data tools for processing, structuring of data. FNP has also implemented a Cloud data platform to use and house data from internal sources. Now the conversion of marketing campaigns, using CDP analytics, have gone up to 7-8 % from 4.5-5 %.
IBM has developed an integrated CRM and DMS platform for Indian Oil Corporation Ltd. The platform, accessible to 12,400 IOCL distributors covering 130 mn consumers, ensures real-time updates to inventory, orders, and invoices and can help them to respond swiftly to service requests. The platform named ‘Project ePIC’ or ‘Electronic Platform for IOCL customers’ provides a seamless experience across mobile, tablets, and desktops.
Tata Steel, for AI deployment, first identify business KPIs where AI can drive tangible business benefits, in step two domain experts works with data scientists to develop the solution. The AI solutions are classified into 3 stages 1) Smart Assistance 2) Intelligence Augmentation, 3) Zero Human intervention. 60-70% of Tata Steel’s digital solutions have AI or data analytics built into them and these initiatives have created improvement worth Rs 1,000 cr in the last two years.