Try : Insurtech, Application Development

AgriTech(1)

Augmented Reality(21)

Clean Tech(9)

Customer Journey(17)

Design(45)

Solar Industry(8)

User Experience(68)

Edtech(10)

Events(34)

HR Tech(3)

Interviews(10)

Life@mantra(11)

Logistics(5)

Manufacturing(3)

Strategy(18)

Testing(9)

Android(48)

Backend(32)

Dev Ops(11)

Enterprise Solution(33)

Technology Modernization(9)

Frontend(29)

iOS(43)

Javascript(15)

AI in Insurance(38)

Insurtech(66)

Product Innovation(58)

Solutions(22)

E-health(12)

HealthTech(24)

mHealth(5)

Telehealth Care(4)

Telemedicine(5)

Artificial Intelligence(152)

Bitcoin(8)

Blockchain(19)

Cognitive Computing(8)

Computer Vision(8)

Data Science(23)

FinTech(51)

Banking(7)

Intelligent Automation(27)

Machine Learning(48)

Natural Language Processing(14)

expand Menu Filters

Mantra Labs Joins Fintech Global’s InsurTech100 2019 List

1 minute, 57 seconds read

The company receives recognition for being a pioneer in transforming the global insurance industry through innovative products and solutions that solves real-world challenges. 

Bengaluru, Karnataka, Oct. 24, 2019

Mantra Labs announced today that it has been recognized by Fintech Global in their InsurTech100 2019 list. InsurTech100 recognizes the 100 most innovative insurance solution providers in the world curated by industry stalwarts. 

Mantra Labs is now an InsurTech100 company

FinTech Global is a specialist research firm offering the most comprehensive data, valuable insights and powerful analytical tools to the global FinTech industry. The finalists were selected by a panel of analysts and industry experts from an exhaustive list of over 1,000 companies. The standout businesses are recognized for their innovative use of technology to solve a significant industry problem, generate cost savings, or improve efficiency across the insurance value chain. 

Mantra Labs offers three core products for solving the most pressing challenges faced by InsurTechs around — claims processing, workflow management, process automation, onboarding, leads maximization, customer experience & engagement. 

FlowMagic is a Visual AI platform for Insurer Workflows. With FlowMagic, insurers can create, customise and monitor workflows. It is built to scale across the insurance value chain. It comprises of AI-powered applications which can be strung together to execute any workflow.

Lead Conversion Accelerator is an AI-enabled tool that allows insurers to maximize capture from the sales funnel for AI-driven lead allocation, prioritization and conversion.

Multilingual AI-Powered Chatbot allows insurers to fulfil routine service tasks via Natural Language Processing (NLP) and Machine Learning (ML) models trained on insurance-specific parlance.

“Mantra Labs is leading InsurTech innovations through its deep advisory and consulting approach to understand ‘actual’ user and consumer problems,” says Mikhail Mitra, Co-founder & Chief Product Officer, Mantra Labs. “We’re proud to be recognised as a pioneer in transforming the global insurance industry.”

About Mantra Labs

Mantra Labs is an AI-first product & solutions firm solving the most pressing front & back- office challenges faced by InsurTech and Consumer Internet enterprises. Having worked with some of the World’s leading insurers like Religare, DHFL Pramerica, Aditya Birla Health, and AIA Hongkong along with unicorn consumer startups like Ola, Myntra and Quikr, Mantra Labs has been deeply involved in developing technology solutions for business-specific problems. The company also has strategic technology partnerships with MongoDB, IBM Watson and Nvidia.

Contact information:

Email: hello@mantralabsglobal.com

Address: Bangalore, India

Phone number: 97404 95689, 80409 92941

Website: https://www.mantralabsglobal.com

Cancel

Knowledge thats worth delivered in your inbox

Machines That Make Up Facts? Stopping AI Hallucinations with Reliable Systems

There was a time when people truly believed that humans only used 10% of their brains, so much so that it fueled Hollywood Movies and self-help personas promising untapped genius. The truth? Neuroscientists have long debunked this myth, proving that nearly all parts of our brain are active, even when we’re at rest. Now, imagine AI doing the same, providing information that is untrue, except unlike us, it doesn’t have a moment of self-doubt. That’s the bizarre and sometimes dangerous world of AI hallucinations.

AI hallucinations aren’t just funny errors; they’re a real and growing issue in AI-generated misinformation. So why do they happen, and how do we build reliable AI systems that don’t confidently mislead us? Let’s dive in.

Why Do AI Hallucinations Happen?

AI hallucinations happen when models generate errors due to incomplete, biased, or conflicting data. Other reasons include:

  • Human oversight: AI mirrors human biases and errors in training data, leading to AI’s false information
  • Lack of reasoning: Unlike humans, AI doesn’t “think” critically—it generates predictions based on patterns.

But beyond these, what if AI is too creative for its own good?

‘Creativity Gone Rogue’: When AI’s Imagination Runs Wild

AI doesn’t dream, but sometimes it gets ‘too creative’—spinning plausible-sounding stories that are basically AI-generated fake data with zero factual basis. Take the case of Meta’s Galactica, an AI model designed to generate scientific papers. It confidently fabricated entire studies with fake references, leading Meta to shut it down in three days.

This raises the question: Should AI be designed to be ‘less creative’ when AI trustworthiness matters?

The Overconfidence Problem

Ever heard the phrase, “Be confident, but not overconfident”? AI definitely hasn’t.

AI hallucinations happen because AI lacks self-doubt. When it doesn’t know something, it doesn’t hesitate—it just generates the most statistically probable answer. In one bizarre case, ChatGPT falsely accused a law professor of sexual harassment and even cited fake legal documents as proof.

Take the now-infamous case of Google’s Bard, which confidently claimed that the James Webb Space Telescope took the first-ever image of an exoplanet, a factually incorrect statement that went viral before Google had to step in and correct it.

There are more such multiple instances where AI hallucinations have led to Human hallucinations. Here are a few instances we faced.

When we tried the prompt of “Padmavaat according to the description of Malik Muhammad Jayasi-the writer ”

When we tried the prompt of “monkey to man evolution”

Now, if this is making you question your AI’s ability to get things right, then you should probably start looking have a checklist to check if your AI is reliable.

Before diving into solutions. Question your AI. If it can do these, maybe these will solve a bit of issues:

  • Can AI recognize its own mistakes?
  • What would “self-awareness” look like in AI without consciousness?
  • Are there techniques to make AI second-guess itself?
  • Can AI “consult an expert” before answering?

That might be just a checklist, but here are the strategies that make AI more reliable:

Strategies for Building Reliable AI

1. Neurosymbolic AI

It is a hybrid approach combining symbolic reasoning (logical rules) with deep learning to improve factual accuracy. IBM is pioneering this approach to build trustworthy AI systems that reason more like humans. For example, RAAPID’s solutions utilize this approach to transform clinical data into compliant, profitable risk adjustment, improving contextual understanding and reducing misdiagnoses.

2. Human-in-the-Loop Verification

Instead of random checks, AI can be trained to request human validation in critical areas. Companies like OpenAI and Google DeepMind are implementing real-time feedback loops where AI flags uncertain responses for review. A notable AI hallucination prevention use case is in medical AI, where human radiologists verify AI-detected anomalies in scans, improving diagnostic accuracy.

3. Truth Scoring Mechanism

IBM’s FactSheets AI assigns credibility scores to AI-generated content, ensuring more fact-based responses. This approach is already being used in financial risk assessment models, where AI outputs are ranked by reliability before human analysts review them.

4. AI ‘Memory’ for Context Awareness

Retrieval-Augmented Generation (RAG) allows AI to access verified sources before responding. This method is already being used by platforms like Bing AI, which cites sources instead of generating standalone answers. In legal tech, RAG-based models ensure AI-generated contracts reference actual legal precedents, reducing AI accuracy problems.

5. Red Teaming & Adversarial Testing

Companies like OpenAI and Google regularly use “red teaming”—pitting AI against expert testers who try to break its logic and expose weaknesses. This helps fine-tune AI models before public release. A practical AI reliability example is cybersecurity AI, where red teams simulate hacking attempts to uncover vulnerabilities before systems go live 

The Future: AI That Knows When to Say, “I Don’t Know”

One of the most important steps toward reliable AI is training models to recognize uncertainty. Instead of making up answers, AI should be able to respond with “I’m unsure” or direct users to validated sources. Google DeepMind’s Socratic AI model is experimenting with ways to embed self-doubt into AI.

Conclusion:

AI hallucinations aren’t just quirky mistakes—they’re a major roadblock in creating trustworthy AI systems. By blending techniques like neurosymbolic AI, human-in-the-loop verification, and retrieval-augmented generation, we can push AI toward greater accuracy and reliability.

But here’s the big question: Should AI always strive to be 100% factual, or does some level of ‘creative hallucination’ have its place? After all, some of the best innovations come from thinking outside the box—even if that box is built from AI-generated data and machine learning algorithms.

At Mantra Labs, we specialize in data-driven AI solutions designed to minimize hallucinations and maximize trust. Whether you’re developing AI-powered products or enhancing decision-making with machine learning, our expertise ensures your models provide accurate information, making life easier for humans

Cancel

Knowledge thats worth delivered in your inbox

Loading More Posts ...
Go Top
ml floating chatbot