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5 AI Trends Reshaping the Insurance Sector in 2019

NewVantage Partners Executive Survey 2019 report states- 92% of the C-Level Executives are increasing their pace of investment in big data and AI. Artificial Intelligence brings forth revolutionary benefits to enterprises like personalization, automating customer interactions, real-time assistance, and much more.

Here are 5 flourishing artificial intelligence trends in insurance.

Infographic for 5 AI trends in Insurance

#1 Data from Smart Devices

Smart devices like fitness bands, home assistants, smartwatches, etc. are meteorically becoming integral to our lifestyle. Smart clothing and medical devices are soon going to join the bandwagon.

The insurance sector can dive into the data generated by these smart devices to better understand their user preferences. This data can further help insurers create new and more personalized product categories. 

#2 UAVs for Extreme Surveillance

AI-driven unmanned aerial vehicles (UAV), also known as drones can examine sites, which are otherwise extreme for humans to visit. Using such technologies for geological surveys can make the underwriting process more accurate. Also, deploying drones and robots can revamp insurance risk management strategies. 

“It is estimated that by 2025 the number of autonomous vehicles will increase by 25%”

Source: doi.gov

#3 Channelized Data Sharing

Everyone needs data. Every industry is thriving to provide personalized products and services to its customers. Thus, one can expect private and public entities collaborating to create common platforms for data sharing. 

The data-sharing platforms are GDPR-compliant and adhere to a common cybersecurity framework. Tech giants like Google, Amazon, and Apple have already sailed into this venture. They are able to bond with the lifestyle of users through cloud connectivity and smart devices and wearables. Technology can track instances of customers’ life. Guided data sharing can enable insurance companies to provide real-time assistance to their customers.

#4 Evolution of Cognitive Technologies

Cognition is an important aspect of Artificial Intelligence. Cognitive technologies in AI mimics how the human brain works. The recent improvements in technology can provide a better framework for processing humongous data, specifically gained from active insurance products tied to definite individuals.

With cognitive technologies, carriers can constantly learn and adapt to the world around consumers. This can enable insurance companies to not bring new product categories and engagement techniques but also respond to changing underlying risks in real-time.

#5 Blockchains or Distributed Ledgers

Breaking the traditional barriers of silos and centralization, 2019 is leaping towards the combination of the best of AI and blockchain for businesses.

For example, Smart contracts can automatically determine whether an asset can be transferred to a nominee or back to the source, or a combination of both. Blockchain can also simplify claims management, reinsurance, and underwriting.

Here’s more about how distributed ledgers can accelerate insurance workflows.

Well, the benefits of blockchain are not limited to large-scale insurance companies. Any InsurTech or FinTech firm or even e-commerce marketplaces can use blockchain to distribute micro insurances. The following infographic illustrates the projects successfully harnessing AI and blockchain.

Source: LiveTiles

We help startups and enterprises, build & scale AI-driven products and solutions for last-mile environments. Reach out to us on hello@mantralabsglobal.com to learn more.

Contributing Authors: Nidhi Agrawal (Content Writer @Mantra Labs)

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Smart Machines & Smarter Humans: AI in the Manufacturing Industry

We have all witnessed Industrial Revolutions reshape manufacturing, not just once, but multiple times throughout history. Yet perhaps “revolution” isn’t quite the right word. These were transitions, careful orchestrations of human adaptation, and technological advancement. From hand production to machine tools, from steam power to assembly lines, each transition proved something remarkable: as machines evolved, human capabilities expanded rather than diminished.

Take the First Industrial Revolution, where the shift from manual production to machinery didn’t replace craftsmen, it transformed them into skilled machine operators. The steam engine didn’t eliminate jobs; it created entirely new categories of work. When chemical manufacturing processes emerged, they didn’t displace workers; they birthed manufacturing job roles. With each advancement, the workforce didn’t shrink—it evolved, adapted, and ultimately thrived.

Today, we’re witnessing another manufacturing transformation on factory floors worldwide. But unlike the mechanical transformations of the past, this one is digital, driven by artificial intelligence(AI) working alongside human expertise. Just as our predecessors didn’t simply survive the mechanical revolution but mastered it, today’s workforce isn’t being replaced by AI in manufacturing,  they’re becoming AI conductors, orchestrating a symphony of smart machines, industrial IoT (IIoT), and intelligent automation that amplify human productivity in ways the steam engine’s inventors could never have imagined.

Let’s explore how this new breed of human-AI collaboration is reshaping manufacturing, making work not just smarter, but fundamentally more human. 

Tools and Techniques Enhancing Workforce Productivity

1. Augmented Reality: Bringing Instructions to Life

AI-powered augmented reality (AR) is revolutionizing assembly lines, equipment, and maintenance on factory floors. Imagine a technician troubleshooting complex machinery while wearing AR glasses that overlay real-time instructions. Microsoft HoloLens merges physical environments with AI-driven digital overlays, providing immersive step-by-step guidance. Meanwhile, PTC Vuforia’s AR solutions offer comprehensive real-time guidance and expert support by visualizing machine components and manufacturing processes. Ford’s AI-driven AR applications of HoloLens have cut design errors and improved assembly efficiency, making smart manufacturing more precise and faster.

2. Vision-Based Quality Control: Flawless Production Lines

Identifying minute defects on fast-moving production lines is nearly impossible for the human eye, but AI-driven computer vision systems are revolutionizing quality control in manufacturing. Landing AI customizes AI defect detection models to identify irregularities unique to a factory’s production environment, while Cognex’s high-speed image recognition solutions achieve up to 99.9% defect detection accuracy. With these AI-powered quality control tools, manufacturers have reduced inspection time by 70%, improving the overall product quality without halting production lines.

3. Digital Twins: Simulating the Factory in Real Time

Digital twins—virtual replicas of physical assets are transforming real-time monitoring and operational efficiency. Siemens MindSphere provides a cloud-based AI platform that connects factory equipment for real-time data analytics and actionable insights. GE Digital’s Predix enables predictive maintenance by simulating different scenarios to identify potential failures before they happen. By leveraging AI-driven digital twins, industries have reported a 20% reduction in downtime, with the global digital twin market projected to grow at a CAGR of 61.3% by 2028

4. Human-Machine Interfaces: Intuitive Control Panels

Traditional control panels are being replaced by intuitive AI-powered human-machine interfaces (HMIs) which simplify machine operations and predictive maintenance. Rockwell Automation’s FactoryTalk uses AI analytics to provide real-time performance analytics, allowing operators to anticipate machine malfunctions and optimize operations. Schneider Electric’s EcoStruxure incorporates predictive analytics to simplify maintenance schedules and improve decision-making.

5. Generative AI: Crafting Smarter Factory Layouts

Generative AI is transforming factory layout planning by turning it into a data-driven process. Autodesk Fusion 360 Generative Design evaluates thousands of layout configurations to determine the best possible arrangement based on production constraints. This allows manufacturers to visualize and select the most efficient setup, which has led to a 40% improvement in space utilization and a 25% reduction in material waste. By simulating layouts, manufacturers can boost productivity, efficiency and worker safety.

6. Wearable AI Devices: Hands-Free Assistance

Wearable AI devices are becoming essential tools for enhancing worker safety and efficiency on the factory floor. DAQRI smart helmets provide workers with real-time information and alerts, while RealWear HMT-1 offers voice-controlled access to data and maintenance instructions. These AI-integrated wearable devices are transforming the way workers interact with machinery, boosting productivity by 20% and reducing machine downtime by 25%.

7. Conversational AI: Simplifying Operations with Voice Commands

Conversational AI is simplifying factory operations with natural language processing (NLP), allowing workers to request updates, check machine status, and adjust schedules using voice commands. IBM Watson Assistant and AWS AI services make these interactions seamless by providing real-time insights. Factories have seen a reduction in response time for operational queries thanks to these tools, with IBM Watson helping streamline machine monitoring and decision-making processes.

Conclusion: The Future of Manufacturing Is Here

Every industrial revolution has sparked the same fear, machines will take over. But history tells a different story. With every technological leap, humans haven’t been replaced; they’ve adapted, evolved, and found new ways to work smarter. AI is no different. It’s not here to take over; it’s here to assist, making factories faster, safer, and more productive than ever.

From AR-powered guidance to AI-driven quality control, the factory floor is no longer just about machinery, it’s about collaboration between human expertise and intelligent systems. And at Mantra Labs, we’re diving deep into this transformation, helping businesses unlock the true potential of AI in manufacturing.

Want to see how AI-powered Augmented Reality is revolutionizing the manufacturing industry? Stay tuned for our next blog, where we’ll explore how AI in AR is reshaping assembly, troubleshooting, and worker training—one digital overlay at a time.

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