Accenture and IPsoft launch a new practice based on Amelia, a “digital employee” using artificial intelligence to transform the customer experience.
Artificial intelligence (AI) holds great potential for insurers to re-think the way they conduct business and interact with their customers and employees. Now, Accenture and IPsoft have taken a major step forward in realizing this potential with the launch of Accenture’s new Amelia practice, using IPSoft’s Amelia platform to develop strategies, solutions and consulting offerings based on deployments of virtual agent technology.
The market opportunity for artificial intelligence has been expanding rapidly. As reported in the release announcing the Amelia practice launch, analyst firm IDC has predicted that the worldwide cognitive analytics, discovery and cognitive systems software market will grow from US $4.5 billion in 2014 to US $9.2 billion in 2019, with others seeing these systems having a potential economic impact of $5 to $7 trillion by 2025.
Accenture’s Technology Vision 2016 – based upon research that gathers input from more than 3,100 business and IT executives across the public and private sectors, academia, venture capital firms and entrepreneurial companies in 11 countries and 12 industries – found that 70% of corporate executives (and 82% of insurance executives) are making significantly more investments in artificial intelligence-related technologies than two years ago, with 55% (and, again, 82% of insurance executives) stating that they plan on using machine learning and embedded artificial intelligence.
IPsoft describes Amelia as “Your First Digital Employee”, a cognitive agent who can take on a wide variety of service desk roles and transform customer experience. Just like a human, she communicates with customers using natural language. IPsoft says that, unlike other AIs, Amelia emulates human intelligence making her capable of completely natural interaction with people. She can understand human language, learn through observation and determine what actions to take in order to fulfill a request or solve a problem.
In Accenture’s insurance practice, we are very excited about Amelia’s arrival and we look forward to working with her on a wide range of client projects. We will keep you updated in future posts about how Amelia helps insurers improve customer service and enhance existing business processes.
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TECHNOLOGY VISION FOR INSURANCE 2016 REPORT
Learn more about this year's insurance trends in the Technology Vision for Insurance 2016 which takes a look at the primacy of people in the digital age.