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AI To Transform Auto Insurance In India - Analytics India Magazine
Insurance in India is penetrating at 3.7% of the Gross Domestic Product (GDP) as against the world average of 6.3%. Where life insurance is growing at 11 – 12%, general insurance is growing at 18% per annum in India. As the market for automobiles increases, the insurance market for automotive is also increasing.
#fintech #tech #ai #autoinsurance #machine-learning
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AI & Data Science India Salary Study - 2021
The annual Analytics India Salary report presented by AIM and AnalytixLabs is the only annual study in India that delves into salary trends and provides a comprehensive view of the changing landscape of analytics salaries. The report, now in its seventh year, look at the distribution of average salaries across several categories including years of experience, metropolitan regions, industries, education levels, gender, tools, and skills.
The Data Analytics function is experiencing significant growth and development in terms of skills, capabilities, and funding. Last year, despite the pandemic, the Indian start-up industry witnessed $836.3 million investment, almost a 10% (9.7%) increase than the previous year. Also, more than one in five (21%) analytics teams across firms in India witnessed a growth in the last 12 months and the post-pandemic job market saw an upswing of data science jobs. The development of the data science domain is evidenced by the high salaries drawn by analytics professionals across the organization, with Analytics professionals doing relatively well in spite of the pandemic.
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Uber’s Success Is Deeply Tied To Its Success In India: Shirish Andhare
India is currently in a vital phase of its infrastructure, energy, and mobility development, which nicely sets the stage to leapfrog current or existing practices. According to sources, an estimated 40% of its population will be living in urban areas by 2025, and they will account for over 60% of the consumption of resources.
Moreover, transportation in India is highly fragmented, disorganised across modes with poor infrastructure, congestion and low public transport density. Riders and drivers have to undertake multiple challenges daily such as lack of availability, reliability, quality, consistent pricing, safety etc.
To know more about the current space and transportation in India, Analytics India Magazine caught up with Shirish Andhare, Director, Program Management, Uber India and South Asia.
“Our goal is to change the Indian mindset and help people replace their car with their phone by offering a range of mobility options — whether cars, bikes, autos or public transport — all in the Uber app. By putting more people in fewer cars, we have the potential to build smarter and more liveable cities,” said Andhare.
Using technology, Uber India has been trying to transform the mobility landscape and change how people move around in the country by playing a transformational role in addressing pain points for riders and adding efficiency into the system.
With its multi-modal vision for mobility in India, Uber wants to make a variety of options available to help commuters get where they want to go at a price point that works for them. To that end, Uber has announced partnerships across airports and Metros in Delhi and Hyderabad to provide last-mile connectivity.
Transformation of Uber India
Andhare said that about seven years ago, Uber launched in Bangalore with just three employees. Today, Uber India has tech teams across Bangalore and Hyderabad. It continues its exponential growth journey, focusing on facilitating affordable, reliable and convenient transportation to millions of riders and livelihood opportunities for hundreds of thousands of driver-partners.
The company has doubled its engineering team in India this year. The R&D teams located in Hyderabad and Bangalore continue to grow and currently host over a dozen global charters including rider, maps, customer obsession, infrastructure, money, and eats. These teams are driving global impact for Uber based on several India-first product innovations.
Andhare said, “With over a billion trips in India and South Asia and counting, along with a large driver-partner base, we are focused on winning hearts and minds in the market. We plan to do this by doubling down on products that can solve for low network connectivity, congestion and pollution, as well as enable multiple price points with a varied set of offerings. Uber’s success is deeply tied to our success in India, we are in a strong position in India, and we are committed to serving the market.”
He added, “As we gear up to deliver the next billion rides in the region, we remain focused on providing convenient, affordable rides to millions of riders and stable and sustainable earning opportunities to driver-partners.”
Deep Tech At Uber
Andhare stated that technology provides an incredible opportunity to improve road safety in new and innovative ways before, during and after every ride. At every step, Uber is maximising the usage of technology to bring transparency and accountability through features such as two-way feedback and ratings, telematics and GPS, among others. These will have a positive impact on furthering trust and empathy between riders and driver-partners.
Uber’s Engineering Centre in Bangalore and Hyderabad are engaged in cutting-edge basic and applied technology solutions in areas that include rider growth, driver growth, digital payments, mapping, telematics, vehicle tracking/safety and fleet management, and the Uber core experience.
Some of the India-first innovations include the in-app emergency feature, arrears handling, driver inbound phone support, cash trips, Uber Rentals for longer trips and UberGO. The company is investing heavily in research and resources.
Some of the technologies used at Uber include computer vision, automation, Machine Learning(ML), Optical character recognition (OCR), and Artificial Intelligence (AI) techniques, NLP etc. These technologies are used in areas such as onboarding restaurant menus onto Uber marketplace, enabling earnings opportunities and more. It is also crucial to perform other tasks such as better routing, matching, fraud detection, document processing, maps editing, machine translations, customer support, and more.
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How This AI-Enabled Chatbot Radically Transformed Cancer Care Amid Pandemic
The critical industry that has been massively impacted by the pandemic is the healthcare sector; however, AI’s involvement has helped the industry weather the pandemic storm. The AI applications by companies bring back patients’ lives from the edge and improve diagnostics and treatment and help healthcare providers make informed decisions quickly. One such application has been developed by Hospido, India’s first holistic cancer care platform with which cancer patients can get the right treatment advice from India’s best cancer doctors, without visiting hospitals amid pandemic.
The pandemic lockdown has forced many people, including cancer patients, to avoid hospitals and discontinue their treatment due to coronavirus risk. And this is what triggered Karan Chopra, the founder of Hospido to bring out quality healthcare to these cancer patients through telemedicine and satellite treatments centres for providing the right treatment at the right time. In this article, Analytics India Magazine, got in touch with him to understand how this startup revolutionised cancer carer amid pandemic.
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Digital Transformation Consulting Services & solutions
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1603178732
AI To Transform Auto Insurance In India - Analytics India Magazine
Insurance in India is penetrating at 3.7% of the Gross Domestic Product (GDP) as against the world average of 6.3%. Where life insurance is growing at 11 – 12%, general insurance is growing at 18% per annum in India. As the market for automobiles increases, the insurance market for automotive is also increasing.
#fintech #tech #ai #autoinsurance #machine-learning