Lazarus AI

With half of 2024 already in the books, and a growing demand for AI in the industry, we are excited to announce our upcoming live webinar on AI in Insurance! Titled "AI in Insurance: July 2024 Assessment", the free event will dive into the different types of AI technologies being deployed, challenges, and potential solutions. Tune in July 17th at 1 PM Eastern. Register below to save your seat! https://lnkd.in/eKwtnvGq Panelists: Alex Tran - Partner, Plug and Play Ventures Alex Goryachev - WSJ Bestselling Author of "Fearless Innovation" John Keddy - Insurance Evangelist, Lazarus AI

Just dropped - Lazarus AI Insight for Insurance on Prompting. This is Prompting 1 (not even 101) and contains a view of how Prompting will evolve. More detailed insights on Prompting will be forthcoming but here is something to start your week 

Want an effective AI POC ? Read the following insights from Lazarus AI -----and engage. PS. If you would like to be put on a list for upcoming Insights just go to https://lnkd.in/gX5Sdvwc

Five 2024 AI Predictions for Insurance……………one is 100 % guaranteed.    2023 was a wild year for AI and twelve months ago no one could have predicted how things would have played out. That won’t stop me.    1.     Being a “Do NOT” gets more difficult. Most of the world is divided into have and have nots. In 2024, for insurers the AI world will increasingly be divided into “Do” and “Do NOTs” with the Do NOTs under pressure. 2023 saw insurers ideating, doing proof of concepts and implementing AI solutions with real business value. Some insurers did stay on the sidelines. In 2024, this split will grow and pressure will increase on the “do NOTs.” Expect CEO and Board members to increasingly ask “why aren’t we using AI to reduce risk?” or “why aren’t we removing dreary tasks that our employees hate ?” As AI costs per unit decrease and capabilities increase, there will be more pressure on the “Do NOTS” –to DO. 2.    LLM understanding matures among insurers. In 2023, ChatGPT was a blinding light. Whether more blinding or enlightening will be judged in time. For 2024, expect insurers to understand there isn’t one LLM but many with associated weaknesses and strengths. LLMs can be used to solve many insurance problems or deliver unacceptable results depending on the LLM chosen and how it is used. Insurers get this clarity around making optimal LLM choices in 2024.   3.               Insurers stop “looking at Jones’.” In 2023, many questions from insurers, however worded, went to “what are our competitors doing ?”  Understandable in times of rapid change. However, far better questions include “where can we use AI to get competitive advantage ?” and “what problems do we need to solve that have frustrated us for years ?” Insurers understanding their own processes, customer base, products, data and documents and how to leverage AI will realize value faster than “tell me what my competitors are doing.” In 2024, Insurers change the optic and drive real value. 4.               Employee impact - small scale version. With topics such as AI driven job losses, lack of sufficient AI/ML skills, economic disruption and associated themes, 2023 brought a lot of employee impact discussion. For 2024, insurers will realize the immediate action is more small ball. The ability to develop prompt engineers will be a key conversation. Redoubled emphasis on insurance solutions with “human in the loop” points will mature. The importance of getting rid of valueless work, that employees despise, will increase. Not as sexy but insurers are rational people and will get to more rational views in 2024. 5.               Lazarus AI will be actively engaging all aspects of AI in the insurance industry. Lazarus AI will engage all aspects of the insurance industry with AI capabilities that solve problems. Watch for our engagement ------or if you would like to be put on a list for upcoming Insights just go to https://lnkd.in/gX5Sdvwc 

It was truly rewarding to see so many folks genuinely engaged and curious of what an enterprise focused #GenAI start-up could bring to the industry! And for those that got to see the “cool stuff”, hope you enjoyed it and perhaps opened some new horizons! Till next time. #itcvegas2023 #enterpriseai #foundationmodels #insurtech Kevin L. Ariel Elizarov Keith Jensen Shige Sato Leo R. Michael Grady