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Machine Learning in Insurance: Applications, Use Cases, and Projects

ProjectPro

Ever wondered how insurance companies successfully implement machine learning to expand their businesses? Despite its long history of resistance to innovation, the insurance sector is currently experiencing a digital revolution. For both applicants and insurers, this quick move has significant implications.

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Personalized Insurance: Auto and Telematics, Health, and Other Success Stories

AltexSoft

In today’s society, insurers can no longer ignore the mounting expectations of customers. Clients now expect insurers to provide different levels of personalization that are fast, adaptable, and up to date. Is personalized insurance really the future of insurance? What is personalized insurance, and why is it important?

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Data Collection for Machine Learning: Steps, Methods, and Best Practices

AltexSoft

While today’s world abounds with data, gathering valuable information presents a lot of organizational and technical challenges, which we are going to address in this article. We’ll particularly explore data collection approaches and tools for analytics and machine learning projects. What is data collection?

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Biases in Data Collection: Types and How to Avoid the Same

U-Next

In reality, computers, data, and algorithms are not entirely objective. Data analysis can indeed aid in better decision-making, yet bias can still creep in. It’s we, humans, that technologies and algorithms. In more detail, let’s examine some biases affecting data analysis and data-driven decision-making. .

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How AI Used in Fraud Detection? Benefits, Techniques, Use cases

Knowledge Hut

In essence, it's the use of AI anomaly detection algorithms, often covered in an Artificial Intelligence course for beginners , to analyze and identify suspicious activities or transactions. Fraud detection with AI and machine learning operates on the principle of learning from data.

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Future of Data Scientists: Career Outlook

Knowledge Hut

Data Science is the fastest emerging field in the world. It analyzes data extraction, preparation, visualization, and maintenance. Data scientists use machine learning and algorithms to bring forth probable future occurrences. Data Science in the future will be the largest field of study. What is Data Science?

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Responsible AI: Ways to Avoid the Dark Side of AI Use

AltexSoft

An ML model is an algorithm (e.g., Decision Trees, Random Forests, or Neural Networks) that has been trained on data to generate predictions and help a computer system, a human, or their tandem make decisions. To enable algorithm fairness, you can: research biases and their causes in data (e.g., Source: SMBC Comics.