Japanese insurer Fukoku Mutual Life Insurance Co. has announced plans to replace 30% of its payment assessment department with an artificial intelligence system; the insurance company has partnered with IBM for use of IBM's Watson; the system will analyze and interpret medical documents for insurance payments; the company estimates it will save approximately 140 million yen ($1.19 million) per year by utilizing the new system; other insurance companies also exploring artificial intelligence for similar types of work include Dai-ichi Life Insurance Co., Japan Post Insurance Co. and Nippon Life Insurance Co. Source
Equbot has created an AI Powered ETF (ticker: AIEQ); it analyzes massive amounts of data to create a portfolio of 30-70 stocks; some of the data sources include regulatory filings, quarterly news releases, articles, and social media posts; a major difference of the fund is that the bot’s methodology can be explained; the fund launched on October 18, 2017 and has about $70 million in assets. Source
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