The problem of increasing unemployment is being seen in State Farm Insurance due to increasing technology. Today's employees are finding themselves lagging behind in the matter of learning technology, as the risk of losing their jobs seems to be increasing.
State Farm, one of the biggest insurance companies of USA, has launched its own AI system. You already knew about this. Today you will get to know about its results and its impact on employment.
It is believed that this AI system is untested which means it has never been used before. An untested AI has been engaged for the purpose of insurance, which is an important job related to finance, and the work of claims has been given to it.
State Farm has given this AI the name of Claim Guard, from the name itself it is clear that it has been formed for the purpose of claims.
Despite being formed especially for the purpose of claims, its results are not coming out properly. State Farm's customers are seen making mostly wrong decisions in the claims done through it.
There is a flaw in the reasoning of this AI because of which incorrectness can be seen in its results. It is most important for any AI to be reasonably correct, and the same flaw has been seen in this.
It has also come to light that the state farm ignored the warnings given by the AI developers and deployed the AI without listening to anyone. Due to this mistake, the problems of low-income and minority claimants have increased. The reason for this wrong decision making is also believed to be training the AI on less data due to which the entire focus of AI is being seen as increasing the profits of the company.
And all these incidents are also being considered as the reason for State Farm layoffs. The use of increasing technology and limited training of current employees is the biggest reason for today's increasing layoffs and if we talk about State Farm in that, then AI is also being seen in the same way.
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