Science fiction has painted a vivid, if slightly dystopian picture of what a future with intelligent robots might look like. Their triumph on humans may very well seem to be a distant reality but as technology progresses, there is no denying that the advent of robots with near-human levels of cognizance, is not too far.
Robots with advanced artificial intelligence (AI) functionalities could have an unprecedented effect on the word’s economy. In the car insurance industry, bots with cognitive capabilities are already scanning claims and analyzing customer-proofs of vehicle damages to deduce the right payout for each case. With these super-workers that are programmed with human insight and enviable computing speed, companies no longer need to send assessors onsite to validate claims.
The financial and trade market has been quick to leverage these developments. Traders and asset servicers are driving efficiency, curbing risk, and enhancing the quality of service through automation enabled by advanced robotics and AI.