In this interview, we had the pleasure of speaking with Anders Dræge! Anders is one of the driving forces behind the artificial intelligence and machine learning team at Frende Forsikring.
As a returning speaker, this time at the NDSML Summit 2024, Anders will once again share game-changing insights. Renowned for his impactful talks, including “Enhanced Automation by Integrating AI in Robotic Processes” at the Data Innovation Summit 2023, he’ll explore how generative AI and RPA are revolutionizing efficiency in the insurance industry. In this interview, Anders highlights the vital role of legal collaboration and strategic planning in achieving real-world success. He’s also eager to delve into future AI trends that promise to transform customer experiences and streamline operations.
Hyperight: Can you tell us more about yourself and your organization? What are your professional background and current working focus?
Anders Dræge: My name is Anders Dræge, and I am 47 years old. I lead the machine learning and artificial intelligence team at Frende Forsikring. I hold a PhD in petroleum geophysics and have spent thirteen years working at Equinor’s research center.
Seeking a new career direction, I taught myself machine learning and became a data scientist at Frende in 2019. By the end of 2020, we established our current team, which consists of 4.5 full-time equivalents. My current focus is on automating processes, working closely with robotic process automation (RPA) to achieve this.
Hyperight: During the NDSML Summit 2024, you will share more on the power of generative AI and RPA (Robotic Process Automation) in insurance. What can the delegates at the event expect from your presentation?
Anders Dræge: Delegates can expect to see real case studies demonstrating how AI is creating value at Frende. I will also discuss key success factors for implementing AI in large organizations.
Hyperight: Reflecting on the past year, what do you consider the primary benefits of implementing generative AI and RPA within the insurance industry?
Anders Dræge: The primary benefit of implementing generative AI is the significant boost in worker efficiency. This technology enables us to accomplish more in the same amount of time compared to working without it. Generative AI has also opened up new areas of automation, further enhancing overall efficiency. Additionally, the precision of work can improve, as AI doesn’t experience fatigue.
Hyperight: As Head of Machine Learning and Artificial Intelligence, how do you balance the potential of generative AI and RPA with the challenges of implementation in a highly regulated industry like insurance?
Anders Dræge: We prioritize close collaboration with legal teams. We do this to thoroughly understand the regulatory landscape and ensure compliance is integrated into the design and deployment of AI. Obtaining customer consent when necessary is essential, as is maintaining strict adherence to data usage regulations. We are committed to using only the data we are permitted to access. Additionally, we implement robust access controls to protect sensitive information at all times.
Hyperight: What advice would you give to companies looking to harness the power of generative AI and RPA to revolutionize their efficiency?
Anders Dræge: To successfully leverage generative AI and RPA, it’s crucial to start with thorough planning. This includes:
- Consulting legal teams. Collaborate with legal experts to identify any regulatory restrictions or obstacles that need to be addressed.
- Developing a clear implementation strategy. Outline the steps required for a smooth integration, from technology selection to deployment.
- Engaging domain experts early. Involve key stakeholders and domain experts from the outset to ensure the project is aligned with business needs. Their insights should shape the direction of the project.
- Focusing on ROI. Carefully consider the potential return on investment, and establish metrics to document and demonstrate the value created by the initiative.
Hyperight: What are some AI trends you expect to see in the upcoming 12 months?
Anders Dræge: In the upcoming 12 months, I anticipate a surge in AI adoption across industries. This will manifest in increased automation of manual tasks, particularly in areas like customer service, data analysis, and decision-making. Within the insurance sector, AI is poised to revolutionize processes such as underwriting, claims processing, and fraud detection.
Beyond operational efficiency, AI will also drive enhanced customer experiences. AI-powered chatbots and virtual assistants can provide 24/7 support, answer queries, and even process simple claims.
As AI becomes more integrated into the insurance industry, ethical considerations will become increasingly important. The EU AI Act will have an increasing impact on how we shape our AI projects over the next 12 months. And even further!
Catch Anders’ game-changing presentation, “Revolutionizing Efficiency: GenAI and RPA in Insurance,” at the NDSML Summit this October. Don’t miss this opportunity to explore the future of insurance with cutting-edge AI insights!
Transform Your AI Vision into Reality and Value at NDSML Summit 2024!
Since 2016, the annual Nordic Data Science and Machine Learning (NDSML) Summit has been the premier event where AI innovation meets enterprise-scale implementation. Held on October 23rd and 24th, 2024, at Sergel Hub, Stockholm, this year, we bring a fresh focus on the latest trends in Data Science, Machine Learning, and Artificial Intelligence. Dive into three tracks: Strategy & Organization, ML and MLOps, and Infrastructure & Engineering, each designed to address the current and future challenges in AI deployment!
Explore topics such as Generative AI and Large Language Models, robust AI techniques, Computer Vision, Robotics, and Edge Computing. With 450+ Nordic delegates, 40+ leading speakers, interactive panels, and a hybrid format for both on-site and online attendees, this summit is a place to harness the full potential of AI! GET YOUR TICKETS NOW.
Add comment