SINGAPORE, Oct. 30, 2024 /PRNewswire/ — At the 2024 Hong Kong FinTech Week InsurTech Forum, Charles Hung, CEO of Blue Insurance; Gilbert Leung, CEO of Novo AI; and Priscilla Ng, Prudential’s Group Chief Customer & Marketing Officer explored the transformative role of AI in the insurance sector. The discussion centered around AI’s ability to enhance customer experience, improve operational efficiency, and navigate industry-specific challenges.

Applications and Challenges of AI in Insurance

Priscilla Ng highlighted that Prudential uses AI to sift through vast volumes of customer feedback, allowing teams to address issues efficiently and improve customer engagement. Charles Hung of Blue Insurance emphasized AI’s power in providing personalized and consistent service, helping meet customer expectations at scale. Gilbert Leung from Novo AI discussed the importance of AI in fraud detection and cost control, crucial for managing escalating expenses and protecting bottom line.

However, challenges in implementing AI persist across the industry. For Prudential, data quality and prioritizing use cases are key considerations, while Blue Insurance pointed out the difficulties in sourcing skilled talent and having accurate data. Novo AI noted the rapid pace of AI development, making fast iterations and keeping up to speed with model enhancements are essential to long term success. These insights underscore the need for deliberate, well-structured strategies tailored to tackling insurance’s unique challenges.

Ensuring Fairness and Accuracy with “Humans in the Loop”

A key theme throughout the discussion was the necessity of human oversight in AI to maintain fairness and accuracy. Gilbert Leung emphasized the importance of human expertise is integral at each stage of AI operations, ensuring that AI systems are designed with diligence, reducing biases and upholding ethical standards. Particularly in fields like healthcare, where AI-driven decisions impact sensitive human outcomes, this level of human judgment is essential for building trust and accountability.

AI as an Essential Tool for the Future of Insurance

Last but not least, the discussion ended with a mutual agreement that AI has progressed beyond being a competitive advantage to a survival kit. With its ability to streamline claims handling, enhance transparency, fight fraud and abuse, AI is reshaping insurance operations like never before. Meanwhile, human oversight remains indispensable to ensure that AI-driven decisions reflect both care and ethical integrity. This balanced approach to integrating AI sets a responsible path forward, allowing insurers to harness AI’s potential while maintaining customer trust.

For more info: partnerships@heynovo.ai 

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SOURCE Novo AI

ZUG, Switzerland, Oct. 30, 2024 /PRNewswire/ — Validation Cloud, the leading Web3 data and AI company, has selected True Global Ventures as its lead investor, contributing $10M. The company plans to use the funds to expand its AI product, bringing seamless access to Web3 data and enabling unparalleled user experiences in network ecosystems and applications.

“Web3 needs seamless access to data to reach a billion users; Validation Cloud is solving this critical hurdle to adoption through technological breakthroughs in its core platform alongside AI. We have seen staking and node API services, but never in combination with AI. This is what we are most excited about with Validation Cloud’s data product offering for Web3 infrastructure companies,” said Beatrice Lion, CEO & General Partner of True Global Ventures.

The company’s product platform comprises three components: staking, node API, and data & AI. In staking, Validation Cloud has exceeded more than $1 billion of assets staked, growing 400% year-over-year. Further, its Node API consistently demonstrates the best global performance, measured by CompareNodes. Some of Validation Cloud’s clients include Chainlink, Aptos, Consensys, Stellar, and Hedera.

Most notably, its AI platform makes on-chain data exploration easier and faster. Validation Cloud’s platform drives greater engagement by compressing navigation from hours to seconds, resulting in a larger, more active user base. This innovation represents a distinctive step in making blockchain data more accessible.

“We are thrilled to partner with True Global Ventures due to their global commercial reach, focus on the intersection of Web3 and AI, and synergistic portfolio. TGV has a deep alignment with our mission and exceptional value-add beyond their capital,” said Alex Nwaka, Co-Founder of Validation Cloud.

“We see the future of Web3 being shaped by the combination of AI and infrastructure. Validation Cloud’s focus on making data more accessible is exactly what the industry needs to scale,” said Aly Madhavji, Managing Partner of Blockchain Founders Fund.

Validation Cloud is one of the fastest-growing companies in Web3. This funding round follows the company’s raise in February 2024, led by San Francisco-based Cadenza Ventures, with participation from Blockwall, Bloccelerate, Side Door Ventures, GS Futures, AP Capital, Blockchain Founders Fund, and Metamatic.

About Validation Cloud

Validation Cloud is a Web3 data and AI company with industry-leading products in staking, node, and data-as-a-service. Validation Cloud is trusted by the top networks, applications, and enterprises in Web3, demanding #1 performance, scalability, and SOC2 Type 2 compliance.

Learn more at Validationcloud.io | LinkedIn | X  | Podcast

About True Global Ventures, TGV

TGV 4 Plus Fund invests in AI and blockchain-driven companies globally. TGV backs visionary entrepreneurs in sectors including AI, entertainment, technology infrastructure, and financial services in the early stages and beyond Series B.

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SOURCE Validation Cloud

News in brief:

Getac aims to take a new step towards a sustainable world by adopting SORPLAS™ from Sony Semiconductor Solutions (SSS) in its Premium Rugged Products, beginning with the recently launched S510 rugged laptop and K120 fully rugged tablet.SORPLAS is an environmentally conscious plastic developed and provided by SSS, which can achieve up to 99% utilisation rate of recycled materials.The announcement reaffirms Getac’s collaboration with SSS to delivering long-term sustainability in the technology manufacturing industry

TAIPEI, Oct. 30, 2024 /PRNewswire/ — Getac Technology Corporation (Getac) today announced a new step towards a sustainable world by adopting SSS’ innovative SORPLAS into its range of premium rugged laptops and tablets. The announcement reaffirms both companies’ collaboration to utilising environmentally conscious materials and developing products that create a more sustainable future for all.

SORPLAS is an environmentally conscious plastic developed and provided by SSS, which can achieve up to 99% utilisation rate of recycled materials. SORPLAS is incredibly durable, even in high-temperatures and humid environments where plastics can quickly deteriorate, and it also gives consideration to aesthetics. Thanks to the above-mentioned high-quality standards and environmental friendliness, SORPLAS is used in Sony Group’s products, as well as outside Sony Group companies.

In addition, compared to virgin flame-retardant polycarbonate resin, the amount of CO2 emitted during SORPLAS production is significantly reduced, and it has been technically confirmed that its properties can be maintained even after repeated recycling.  As a result, its adoption can greatly reduce the environmental impact of technology manufacturing in the future.

Getac’s goal is to harness technology wherever possible to fulfil its commitment to the environment. A key part of this has been steadily increasing the use of PCR (Post-Consumer Recycled) materials during the development phase of new products. The first integration of SORPLAS into its premium range of products came with the launch of the S510, the world’s first AI-ready rugged laptop, followed by the highly versatile next generation K120 fully rugged tablet. The successful adoption of PCR materials underscores Getac’s dedication to delivering environmentally friendly products while maintaining the high levels of reliability and performance demanded by customers across the rugged industries.

“The technology industry has a collective responsibility to protect our planet for future generations,” says Eita Yanagisawa, Senior General Manager of Sony Semiconductor Solutions Corporation. “SORPLAS embodies our commitment to fulfilling this responsibility, utilising cutting-edge recycling technology to achieve an exceptionally high utilisation rate of recycled materials. It is already used extensively in Sony Group’s products, and we’re excited to bring it to a wider audience through partnerships with other environmentally conscious companies like Getac.”

“Getac is firmly committed to creating a more sustainable future through environmentally responsible design and manufacturing, and we actively pursue innovation that enables us to achieve our goal,” says James Hwang, President of Getac Technology Corporation. “Implementing SORPLAS into our rugged devices is the latest step on this path and we look forward to working closely with Sony Semiconductor Solutions to bring it to more of our products and solutions going forward, helping to safeguard the future of our planet for future generations.”

About Getac

Getac Technology Corporation is a global leader in rugged mobile technology and intelligent video solutions, including laptops, tablets, software, body-worn cameras, in-car video systems, digital evidence management and enterprise video analytics solutions. Getac’s solutions and services are designed to enable extraordinary experiences for frontline workers in challenging environments. Today, Getac serves customers in over 100 countries spanning defence, public safety, ambulance, fire & rescue, utilities, automotive, natural resources, manufacturing, transport, and logistics. For more information, visit: http://www.getac.com. Participate in the Getac Industry blog or follow the company on LinkedIn and YouTube.

Getac and Getac logo are trademarks of Getac Holdings Corporation or its affiliates. Other brands or trademarks are the property of their respective owners. ©2024 Getac Technology Corporation.

“SORPLAS” is a trademark of Sony Group Corporation.

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SOURCE Getac