Forbes: Machine Learning in Action

Theories about the future impact of artificial intelligence (AI) on business and society are everywhere. But the reality on the ground today among the companies and leaders applying technologies such as machine and deep learning to their core challenges is exciting enough. Business models are being reformed around the insight springing from powerful cognitive capabilities. New products and services are improving the customer experience — one could even say the human condition. In a very real and significant sense, AI is changing the world for the better.

Look at healthcare and insurance, two industries where success is largely determined by the ability to make sense of complex environments. The Dutch health technology giant Philips is a prime example of a global firm building a new business from an AI-based ecosystem that connects medical devices and data to personalized diagnostics and treatment. Aon Benfield, the reinsurance and capital advisory arm of U.K.-based Aon, developed an AI platform around cloud-based computing to manage one of the most complex retirement products with embedded financial guarantees — variable annuities