What does a fraudulent insurance claim and
eye problem have in common? Well, both can be identified, thanks to powerful
NVIDIA GPUs deployed by AIDA Technologies, a Singapore-based artificial
intelligence (AI) startup which began in 2016.
Staffed by a team of award-winning data
scientists from leading research institutions in Singapore, AIDA (short for
AI-driven analytics) focuses on using its strong analytics capabilities to
develop innovative machine learning solutions for the banking, insurance and
healthcare sectors. These customisable solutions bring a new ease to developing
high precision analytical solutions for each sectors.
The startup adopts an approach that seeks
to understand customers’ challenges and deliver a very good deep learning
solution to tackle those problems. Its solutions are aimed at helping banks and
insurance firms increase revenue, mitigate risks and ensure compliance by
identifying risky behaviour.
To do this, it relies on NVIDIA GPUs
powering Amazon Web Services’ cloud.
“When you talk about heavy duty computing,
there’s only one company out there who can help us, which is NVIDIA. I think
they are making such a big inroad in deep learning which is a very important
tool used in analytics,” said Dr Tan Geok Leng, CEO of AIDA.
The company leverages GPU computing in two
areas – text mining for the banking and insurance field and eye imaging in the
healthcare industry.
Identifying good customers
“In banking, we help banks identify who a
good customer is,” said Tan.
AIDA’s deep learning solution uses
predictive analytics to determine whether a customer will stay on or move away.
In the highly competitive market, this is vital because it costs banks lots of
money to attract customers and customer retention is a priority.
“Our solution can also predict which
customer will stay or go. If a person is likely to go, we can also predict
which incentives can be offered to hold him back using a profitability
simulator,” said Tan.
Recognising fraudulent claims
Insurance companies are another of AIDA’s
target market with some of the biggest names in Singapore among its customers.
AIDA helps insurance firms to automate
their claims processing in a short period of time. One of its customers,
Prudential, announced in November that it can shorten claims from days to mere
seconds with help from AIDA’s deep learning solution.
The solution can also help to identify
fraud. With 100,000 or 200,000 claims a year, it can be difficult for insurance
firms to know which cases are unusual and possibly fraudulent.
“We can do what’s called cohort comparison
and look for outliers such as those who seem to be claiming a little bit more
or coming back more frequently. We also identify agent misconduct such as those
who have a disproportionate number of clients who make claims or claim too
fast,” said Tan, whose company has customers in Singapore, Malaysia, Indonesia,
Thailand, and India.
The solution can also spot hospitals that
take longer to treat patients or those that have a higher rate of people
returning for more treatment.
Accelerating eye screening
Eye screening is a big issue as it is a
time-consuming process. Compounding this problem is the lack of specialists who
can do the screening.
A healthcare company in Singapore is using
AIDA’s GPU-powered solution for remote eye screening to expedite this process
and get more people screened. The solution can help detect defects faster so
that patients can see an eye doctor before their eyes get too bad.
“Only three in 10 persons have an eye
problem. If we don’t use a GPU to do the eye screening, it takes 15 to 20
minutes to read an image because the image is very complex. With deep learning,
we can read the image in seconds,” said Tan.
Certain standing
AIDA is a member of NVIDIA’s Inception
Program, which helps accelerate startups pushing the frontiers of AI and data
science.
Tan is pleased that his company is part of
the program and could participate in the GPU Technology Conference in San Jose
in March.
“When you tell people that you are in the
Inception Program, people know that you have a certain standing,” he beamed.
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