Latest news with #NaturalLanguageProcessing
News24
3 days ago
- News24
Human, beware? Arthur Goldstuck delves into the rise of AI
News24's Book of the Month for August, The Hitchhiker's Guide to AI: The African Edge, reframes the conversation about AI through the lens of human roles and merges global advances with distinctly African realities. From farmers using AI to track bee movements, to school pupils guided by WhatsApp tutors, to musicians experimenting with machine-made beats, this book explores how everyday people across the African continent are shaping – and being shaped by – the rise of machine intelligence. Rather than obsessing over distant futures or Silicon Valley breakthroughs, this book brings AI down to earth. Through the eyes of local and international teachers, coders, executives and artists, it tells the story of Africa's AI moment – not as a catch-up game, but as reframing the global narrative. Arthur Goldstuck is the author of 21 books and the founder of World Wide Worx, Africa's leading technology market research organisation. This is his second book on AI. In this excerpt, he writes about how AI learns to interact with humans. Natural language processing Chatted with any interesting computers lately? Your knee-jerk reaction is probably that you don't talk to machines, but you are also probably deluding yourself. For example, most people nowadays find that the easiest way to get account statements, if the option if offered by your institution, is to call up a menu on WhatsApp and follow a sequence of instructions. Sometimes, instead of a number from a menu, you are asked to type in what you want. Miraculously, maybe, the machine gives you what you want. Many companies, ranging from Discovery Health to Mercedes-Benz to MTN to Vodacom, are using more advanced chatbots to do the same thing. The results tend to be disappointing, as most of the chatbots are designed merely to pull answers from an existing menu on a standard website. But they are getting better all the time. More and more of us are succumbing to the lure of voice assistants on our phones and smart speakers, asking Siri (Apple), Google Assistant or Gemini (Android), Celia (Huawei) or Alexa (Amazon) for directions or to play a song. Again, the machine obeys. Unless you are in a car and talking to the clunky built-in voice command system, in which case the machine almost always gets it wrong. But connect Google Android Auto or Apple Car Play to the car, with their access to the latest voice technology, and it is suddenly obeying your spoken commands. How? Thanks to natural language processing (NLP), a system for programming computers to process and generate text, speech and other forms of human language. The idea is to teach computers to understand and communicate with humans using the language we speak or write. In short, it's all about bridging the gap between human language and computer language. But how? It starts with data. Vast amounts of it. Computers are fed with text from numerous sources and programmed to analyse and study the text to learn patterns, grammar and meanings behind words and sentences. Once it has passed English – or any other language – in this school, it is ready for any form of language processing. NLP can automatically summarise a long article into a short paragraph, translate sentences into other languages and analyse the sentiment in social media posts. ChatGPT told me that sentiment analysis is 'like the computer reading your mind', but that's just wishful thinking. It merely matches a large dictionary of attitude-related words to a set of rules that indicates whether a word is positive, negative or neutral. When it works, it helps businesses gather insights about how people feel about their products or services. But think of a young person describing something as 'sick' or 'wicked'. If the system is not programmed to pick up on slang, it will interpret a great positive as a negative. Once again, it is a case of: human, beware. NLP algorithms use various forms of artificial intelligence, including machine learning, to break down sentences, look for keywords and analyse the context to generate meaningful responses. As the algorithms improve, and computing power improves, NLP improves. Before long, the science-fiction-like promise of instant and automatic translation of languages for travellers will be an everyday reality. With luck, but don't hold your breath, large companies' customer services will be transformed. Intelligent automation Intelligent automation combines the power of automation and AI, with a promise of bringing efficiency, accuracy and intelligent decision-making to business processes. Left to itself, this form of AI has the power to wreak havoc, so let's first look at the nightmare before we address the dream. On 6 May 2010, long before AI had entered common use in business, Wall Street was rocked by an event known as the 'flash crash'. A combination of market conditions and high-frequency trading algorithms, designed to execute trades at extremely fast speeds, resulted in a flood of automated sell orders that led to a cascading effect and a sharp fall in prices. Because there was an insufficient number of buyers to counter the selling, some stocks briefly traded at absurdly low prices, as low as a cent or a fraction of a cent. Aside from widespread panic, it result ed in the temporary loss of billions of dollars – before the market rebounded just minutes later. ChatGPT tells us: 'The incident underscored the importance of monitoring and managing the risks associated with automated trad ing algorithms. It highlighted the need for robust risk management mechanisms, circuit breakers, and coordination between market participants and regulators to ensure market stability in the face of rapid algorithmic trading.' Now that you've been warned, you probably won't rush into intelligent automation, but let's pause and take a breath. At its core, intelligent automation automates repetitive and rule based tasks that were traditionally done by humans. This means it can streamline routine operations, save time, and reduce errors in data entry, invoice processing or report generation, for example. It is one of the categories of greatest impact of AI on business, not only because of what it can do, but what it allows business decision makers to do: free up their time for more strategic and value-added activities. The key is in that word that is at the heart of this book: 'intelligence'. With AI added on, machines go beyond simple automation to analyse vast amounts of data, recognise patterns and, ultimately, make decisions. Intelligent automation plays a crucial role in fraud detection, risk assessment and financial analysis, making it a powerful tool for financial services organisations. It is at the heart of a new generation of insurance companies, like South Africa's Naked, which uses AI at every stage of the customer journey, from getting a quote and signing on to making a claim. But the possibilities go far beyond moving money. The ability to process large volumes of data quickly, and identify anomalies, predict trends and make informed recommendations, offers efficiency and minimises risk to any business that produces a large amount of data. By leveraging AI algorithms, machines can analyse data from multiple sources and provide insights for strategic planning, market analysis and forecasting. The integration of automation and intelligence in business processes can also allow collaboration between machines and humans. This means it enables businesses to improve productivity and allocate human talent to more creative and critical tasks that still require people's touch and expertise. Behind the scenes, intelligent automation feasts at a smorgasbord of AI tools, including machine learning, natural language processing and computer vision. That makes for better results over time. As these improvements multiply, they can have the very opposite effect of the likes of a flash crash. They promise a boost in value that is sustainable, measurable and, for the humans who keep their jobs, deeply satisfying.
Mint
3 days ago
- Business
- Mint
Policybazaar for Business Introduces 'ClaimSetu': India's First AI-led Claims insights engine for Group Health Claims
Gurugram | August 1st , 2025: Policybazaar for Business (PBFB), the corporate arm of one of India's largest online Insurance platform, has launched ClaimSetu, a breakthrough AI-powered solution to reduce anxiety/unforeseen situations, simplify, and speed up Group Health Insurance (GHI) reimbursement claims. While PBFB has already delivered strong claims support to corporate clients with millions of employees, ClaimSetu takes the experience to the next level, giving quantitative scoring like claim insights approval & scoring around how their claim is expected to be processed. Apart from this is the system, which also helps employees, HR teams, Insurers, and TPAs process claims up to 50% faster with fewer errors and more visibility. It is currently focused exclusively on streamlining GHI reimbursement claims, a process traditionally burdened by delays due to missing paperwork, and lack of real-time updates. Using cutting-edge Artificial Intelligence (AI), Natural Language Processing (NLP), and Optical Character Recognition (OCR), ClaimSetu reimagines the entire journey, from document submission to final claim approval, making it faster, more accurate, and far more transparent. 'Reimbursement claims remain one of the tedious processes of group health insurance. With ClaimSetu, we are working on where the friction is highest, in GHI reimbursements, and building a system that removes ambiguity and empowers users with real-time updates,' said Sajja Praveen Chowdary, Director, Policybazaar for Business. 'This is more than automation; it's about delivering clarity and trust at the most critical moment of the insurance experience.' ClaimSetu is proudly built in India, for Indian enterprises, addressing the unique operational and infrastructural challenges of the country's corporate health insurance ecosystem. As India's first homegrown, AI-led claims engine in the B2B insurance space, it marks a leap in digital innovation aligned with the national vision for tech-driven transformation. Today, many GHI reimbursement claims involve over multiple emails, back-and-forth with TPA or the insurer. ClaimSetu changes this with AI-driven document checks, automated validation, instant alerts, and live tracking via WhatsApp, bringing further speed and clarity to the process. The platform identifies and extracts information from documents like bills, prescriptions, and discharge summaries using AI-led classification. It also flags mismatches against policy terms and can detect potential fraud, significantly reducing the administrative burden on HR teams and Insurers. Claims are submitted via familiar channels like Mobile App, email or WhatsApp, with real-time alerts for missing or invalid documents, cutting delays before they begin. Powered by AI, OCR, and NLP, ClaimSetu: Automates document reading from claim forms, pharmacy bills, hospital bills, prescriptions, discharge summaries, etc. Flags missing or incorrect documents in real-time Provides employees with claim insights approval based on Policybazaar's vast historical claims data and constant updates at each step of the claim process. Intelligent claim routing: Assigns claims to appropriate teams based on document completeness, complexity and assistance estimated. ClaimSetu is built with strict adherence to data protection norms, ensuring enterprise-grade security. The platform is also designed to integrate seamlessly with Customer Relationship Management (CRM) systems, Insurer backend systems, and HR tools. In its beta version, while it currently supports GHI reimbursement workflows, ClaimSetu's modular architecture allows for expansion into OPD claims and other categories in the future — making it a future-ready engine for insurance operations across different product lines. By eliminating manual work, reducing turnaround time, and creating a more empathetic claims experience, ClaimSetu is poised to set a new benchmark for enterprise claims handling in India's fast-changing workplace. Note to readers: This article is part of Mint's paid consumer connect Initiative. Mint assumes no editorial involvement or responsibility for errors, omissions, or content accuracy. Want to get your story featured as above? click here!
The Hindu
4 days ago
- Business
- The Hindu
Career as an Accounting Automation Specialist
With businesses embracing digital transformation, the accounting industry is also seeing a change. Robotic Process Automation (RPA), Machine Learning (ML), and AI-powered solutions are helping automate laborious and painstaking processes that earlier had to be done by hand. This has led to new and developing careers such as the Accounting Automation Specialist. An accounting automation specialist puts the appropriate technological solutions into place and decides which accounting and finance tasks should be automated. Financial reporting, data analysis, repetitive accounting processes, contract drafting, contract review and analysis, and providing recommendations to support decision-making are some of the tasks. This not only requires familiarity with accounting procedures but also hands-on experience of working with various software and automation tools utilising AI, Generative AI, RPA, ML, and Natural Language Processing (NLP). Requirements Two preconditions for this position are a sound finance background and technical know-how. While degrees such as BBA, or MBA (Finance) provide the first, this needs to be supplemented by higher-end certifications that enable one to move into into the new digital economy. Certifications such as the following will help aspirants upgrade their profiles: RPA software such as UiPath, Automation Anywhere, and Blue Prism AI and Machine Learning for Finance Generative AI applications in audit and reporting Business Intelligence (BI) solutions such as Power BI and Tableau Accounting and Risk Assessment Data Analytics Globally accepted certifications such as Certified Public Accountant (CPA), Certified Management Accountant (CMA), Enrolled Agent (the U.S.), Certified Internal Auditor (CIA), Certified Information Systems Auditor (CISA) or the Chartered Certified Accountant from the ACCA will offer a competitive edge and build credibility. Responsibilities Designing and optimising workflow to minimise manual intervention Including AI-driven data handling and reporting systems Application of automation software with existing systems such as SAP, Oracle, Tally, and QuickBooks Parsing data visualisation software to offer support for decision-making Allocating automatic audit trails for regulatory compliance Preparation of financial reports and contract review using generative AI Ensuring proper implementation of AI technologies Supervision of the system by AI-powered performance monitoring bots Career prospects Opportunities are available across sectors like banking, consulting, e-commerce, healthcare, and government that are constantly searching for experts who can deliver electronic efficiency and financial correctness. At the lower level, the roles will be Automation Analyst, Financial Process Associate, and Junior ERP Consultant are the lower-level positions. Senior positions include Chief Automation Officer, Digital Transformation Consultant, ERP Implementation Lead, or Accounting Automation Manager. Professionals can also freelance or offer consulting services, which provide automated solutions to SMEs and start-ups. The field of Accounting Automation presents a compelling mix of accounting expertise and innovation technology and those equipped with the right analytical tools, qualifications, and foresight will become the pillars of intelligent, future-ready financial systems. The writer is Founder and CEO, KC GlobEd.
Hindustan Times
5 days ago
- Business
- Hindustan Times
Policybazaar for Business Introduces 'ClaimSetu': India's First AI-led Claims insights engine for Group Health Claims
Gurugram | August 2nd, 2025: Policybazaar for Business (PBFB), the corporate arm of one of India's largest online Insurance platform, has launched ClaimSetu, a breakthrough AI-powered solution to reduce anxiety/unforeseen situations, simplify, and speed up Group Health Insurance (GHI) reimbursement claims. While PBFB has already delivered strong claims support to corporate clients with millions of employees, ClaimSetu takes the experience to the next level, giving quantitative scoring like claim insights approval & scoring around how their claim is expected to be processed. Apart from this is the system, which also helps employees, HR teams, Insurers, and TPAs process claims up to 50% faster with fewer errors and more visibility. It is currently focused exclusively on streamlining GHI reimbursement claims, a process traditionally burdened by delays due to missing paperwork, and lack of real-time updates. Using cutting-edge Artificial Intelligence (AI), Natural Language Processing (NLP), and Optical Character Recognition (OCR), ClaimSetu reimagines the entire journey, from document submission to final claim approval, making it faster, more accurate, and far more transparent. 'Reimbursement claims remain one of the tedious processes of group health insurance. With ClaimSetu, we are working on where the friction is highest, in GHI reimbursements, and building a system that removes ambiguity and empowers users with real-time updates,' said Sajja Praveen Chowdary, Director, Policybazaar for Business. 'This is more than automation; it's about delivering clarity and trust at the most critical moment of the insurance experience.' Reimagining GHI Reimbursements for Indian Enterprises ClaimSetu is proudly built in India, for Indian enterprises, addressing the unique operational and infrastructural challenges of the country's corporate health insurance ecosystem. As India's first homegrown, AI-led claims engine in the B2B insurance space, it marks a leap in digital innovation aligned with the national vision for tech-driven transformation. Today, many GHI reimbursement claims involve over multiple emails, back-and-forth with TPA or the insurer. ClaimSetu changes this with AI-driven document checks, automated validation, instant alerts, and live tracking via WhatsApp, bringing further speed and clarity to the process. The platform identifies and extracts information from documents like bills, prescriptions, and discharge summaries using AI-led classification. It also flags mismatches against policy terms and can detect potential fraud, significantly reducing the administrative burden on HR teams and Insurers. Claims are submitted via familiar channels like Mobile App, email or WhatsApp, with real-time alerts for missing or invalid documents, cutting delays before they begin. Powered by AI, OCR, and NLP, ClaimSetu: Automates document reading from claim forms, pharmacy bills, hospital bills, prescriptions, discharge summaries, etc. Flags missing or incorrect documents in real-time Provides employees with claim insights approval based on Policybazaar's vast historical claims data and constant updates at each step of the claim process. Intelligent claim routing: Assigns claims to appropriate teams based on document completeness, complexity and assistance estimated. Secure, Scalable, and Future-Ready ClaimSetu is built with strict adherence to data protection norms, ensuring enterprise-grade security. The platform is also designed to integrate seamlessly with Customer Relationship Management (CRM) systems, Insurer backend systems, and HR tools. In its beta version, while it currently supports GHI reimbursement workflows, ClaimSetu's modular architecture allows for expansion into OPD claims and other categories in the future — making it a future-ready engine for insurance operations across different product lines. By eliminating manual work, reducing turnaround time, and creating a more empathetic claims experience, ClaimSetu is poised to set a new benchmark for enterprise claims handling in India's fast-changing workplace. Note to readers: This article is part of HT's paid consumer connect initiative and is independently created by the brand. HT assumes no editorial responsibility for the content, including its accuracy, completeness, or any errors or omissions. Readers are advised to verify all information independently. Want to get your story featured as above? click here!
Time of India
6 days ago
- Business
- Time of India
Policybazaar for business introduces ClaimSetu: India's first AI-led claims insights and scoring engine for group health insurance claims
Automates document reading from claim forms, pharmacy bills, hospital bills, prescriptions, discharge summaries, etc. Flags missing or incorrect documents in real-time Provides employees with claim insights approval based on Policybazaar's vast historical claims data and constant updates at each step of the claim process. Intelligent claim routing: Assigns claims to appropriate teams based on document completeness, complexity and assistance estimated. Policybazaar for Business (PBFB) the corporate arm of one of India's largest online insurance platforms has launched ClaimSetu, an AI-powered solution to reduce anxiety/unforeseen situations, simplify, and speed up Group Health Insurance (GHI) reimbursement PBFB has already delivered claims support to corporate clients with millions of employees, ClaimSetu elevates the experience by giving quantitative scoring, like claim insights, approval and scoring around how their claim is expected to be processed. Apart from this is the system, which also helps employees, HR teams, insurers, and TPAs process claims up to 50% faster with fewer errors and more is currently focused exclusively on streamlining GHI reimbursement claims, a process traditionally burdened by delays due to missing paperwork and a lack of real-time updates. Using cutting-edge Artificial Intelligence (AI), Natural Language Processing (NLP), and Optical Character Recognition (OCR), ClaimSetu reimagines the entire journey, from document submission to final claim approval, making it faster and transparent.'Reimbursement claims remain one of the tedious processes of group health insurance. With ClaimSetu, we are working on where the friction is highest, in GHI reimbursements, and building a system that removes ambiguity and empowers users with real-time updates,' said Sajja Praveen Chowdary, Director, Policybazaar for Business. 'This is more than automation; it's about delivering clarity and trust at the most critical moment of the insurance experience.'ClaimSetu is proudly built in India, for Indian enterprises, addressing the unique operational and infrastructural challenges of the country's corporate health insurance ecosystem. As India's first homegrown, AI-led claims engine in the B2B insurance space, it marks a leap in digital innovation aligned with the national vision for tech-driven many GHI reimbursement claims involve multiple emails, back-and-forth with TPA or the insurer. ClaimSetu changes this with AI-driven document checks, automated validation, instant alerts, and live tracking via WhatsApp, bringing further speed and clarity to the platform identifies and extracts information from documents such as bills, prescriptions, and discharge summaries using AI-led classification. It also flags mismatches against policy terms and can detect potential fraud, significantly reducing the administrative burden on HR teams and insurers. Claims are submitted via familiar channels like Mobile App, email or WhatsApp, with real-time alerts for missing or invalid documents, cutting delays before they is built with strict adherence to data protection norms, ensuring enterprise-grade security. The platform is also designed to integrate seamlessly with Customer Relationship Management (CRM) systems, Insurer backend systems, and HR its beta version, while it currently supports GHI reimbursement workflows, ClaimSetu's modular architecture allows for expansion into OPD claims and other categories in the future, making it a future-ready engine for insurance operations across different product eliminating manual work, reducing turnaround time, and creating a more empathetic claims experience, ClaimSetu is poised to set a new benchmark for enterprise claims handling in India's fast-changing workplace.
