Across various sectors, artificial intelligence is rapidly being integrated, promising enhanced efficiency and new capabilities. In the insurance industry, Sumitomo Life is exploring generative AI to support its sales agents, a move President Yukinori Takada views as a strategic step towards modernization amidst industry reforms. Similarly, Starbucks, under CEO Brian Niccol, is expanding its AI initiatives, including the Green Dot Assist chatbot for baristas and exploring predictive and voice ordering to improve customer experience, while emphasizing that AI will augment, not replace, human interaction. The tech landscape also sees intense competition, with Cerebras challenging Nvidia's dominance in AI chips by offering a single, massive chip design aimed at significantly faster processing. Meanwhile, the application of AI extends to healthcare, where researchers at Weill Cornell Medicine are developing an AI tool to track Polycystic Kidney Disease progression using imaging data. However, the increasing use of AI for personalized pricing raises concerns about fairness and transparency, prompting regulatory scrutiny. In the gig economy, Uber is enabling drivers to earn extra income by performing tasks that train AI systems, a move that highlights the growing reliance on human input for AI development. The broader impact of AI on employment is also a significant topic, with companies like Bin There, Felt That clarifying that their AI agent, JOE, is designed to assist with employee departures humanely, while critics argue that AI is often used as an excuse for layoffs by companies that overhired. Banks, such as Citigroup, are cautiously expanding AI use for credit decisions, balancing its potential with the need for rigorous oversight following cautionary tales like the collapse of Tricolor. Finally, cities like Tucson are beginning to establish policies for AI use across government departments, particularly in law enforcement, to ensure responsible implementation.
Key Takeaways
- Sumitomo Life Insurance is considering generative AI to assist sales agents as part of industry-wide reforms, according to President Yukinori Takada.
- Starbucks CEO Brian Niccol is advancing the company's AI strategy, including wider rollout of the Green Dot Assist chatbot and exploring predictive ordering.
- Cerebras is presenting its Wafer Scale Engine as a potential competitor to Nvidia's AI chips, claiming significantly faster processing speeds through a unified architecture.
- Researchers are developing an AI-powered tool called TRACE to analyze kidney images for tracking Polycystic Kidney Disease progression, supported by a new grant.
- The use of AI for personalized pricing is drawing attention from regulators like Australia's ACCC due to concerns about fairness and transparency.
- Uber is introducing 'digital tasks' for drivers to earn money by performing small jobs that help train AI systems.
- Critics suggest that AI is sometimes used as a justification for layoffs by companies seeking to reduce staff after periods of overhiring.
- Bin There, Felt That's CEO clarified that their AI agent, JOE, is intended to manage employee departures with a focus on humane processes.
- Major banks, including Citigroup, are increasing AI investment for credit decisions, but face scrutiny regarding governance and validation after past incidents.
- The Tucson City Council is set to discuss developing new policies for AI use across city departments, especially within the Police Department.
Sumitomo Life considers AI to help sales agents
Sumitomo Life Insurance is thinking about using new digital tools, including generative AI, to help its sales agents. This comes after recent scandals in the insurance industry that made companies rethink how they support their agents. Company president Yukinori Takada stated that the company is at a major turning point for building better relationships with sales agents. The company is exploring these technologies as a way to support agents, especially as traditional methods like employee loans to sales partners are being reviewed. This move could modernize their sales operations.
Sumitomo Life considers AI to help sales agents
Sumitomo Life Insurance is exploring the use of digital technologies, including generative AI, to support its sales agents. President Yukinori Takada mentioned this in an interview, noting the industry is at a significant turning point. This consideration follows industry scandals that questioned the relationships between insurers and their agents, highlighting the need to re-evaluate practices like employee secondments. The company is looking into AI as a way to modernize its sales support systems.
Sumitomo Life explores AI tools for sales operations
Sumitomo Life Insurance is looking into using artificial intelligence and other digital tools to help its sales agents in Japan. This move is happening as the insurance industry faces reforms after recent scandals involving employee loans. With traditional staff secondments likely ending by April 2026, Sumitomo Life is considering AI solutions to assist agents. These tools could help agents work efficiently and follow new rules, while also potentially boosting the market through insurtech. President Yukinori Takada sees AI adoption as a strategic step for modernization.
Starbucks hints at AI for predicting customer orders
Starbucks is investing in AI technologies, with CEO Brian Niccol hinting at future developments like predictive ordering and voice AI. These tools could enhance customer experience by anticipating orders or allowing voice commands. The company already uses AI for inventory management and scheduling, and plans to expand its AI assistant, Green Dot Assist, next year. Starbucks emphasizes that AI will enhance, not replace, the human connection with customers. Potential future uses include optimizing inventory, personalizing ordering, and improving sustainability efforts.
Starbucks CEO teases AI tools for customer service
Starbucks CEO Brian Niccol has discussed the company's exploration of AI to improve customer service and efficiency. Starbucks is testing AI tools like Green Dot Assist, an AI chatbot for baristas, which is planned for wider rollout. The company is also developing 'smart Q' technology for faster order processing and using AI for inventory management and demand forecasting. Niccol mentioned potential future uses like predictive ordering through the Starbucks app and voice ordering systems. Starbucks assures that AI will assist employees and enhance customer experience, not replace baristas.
Cerebras claims AI chips 20x faster than Nvidia
A startup called Cerebras is challenging Nvidia's dominance in AI chips with its new Wafer Scale Engine. Unlike Nvidia's GPUs, which are clustered together, Cerebras uses a single, massive chip that contains hundreds of thousands of cores on one silicon wafer. This unified architecture aims to significantly speed up AI processing by eliminating data transfer bottlenecks between smaller chips, potentially making it 20 times faster and more power-efficient. While Cerebras offers a new approach, Nvidia maintains a strong lead with its established hardware and software ecosystem.
AI imaging database to track Polycystic Kidney Disease
Researchers at Weill Cornell Medicine have received a five-year grant to create TRACE, an AI-powered tool for analyzing kidney images of patients with Polycystic Kidney Disease (PKD). This tool will measure organ volumes from scans, helping scientists track disease progression and treatment effectiveness. The project will build a standardized database of MRI and CT images, stripped of personal information, for national scientific use. This resource, the PKD Image Phenotyping Repository Core, aims to accelerate discoveries and improve care for those with PKD, potentially leading to better management or a cure.
AI drives personalized pricing, raising fairness questions
Artificial intelligence is increasingly used for personalized pricing, where companies tailor product costs to individual customers based on their data. This goes beyond dynamic pricing, which adjusts based on market demand. AI analyzes browsing history, purchase habits, and other personal data to predict what a customer is willing to pay. While this can lead to discounts for some, it raises concerns about fairness, transparency, and potential discrimination. Regulators, like Australia's ACCC, are examining these practices and calling for stronger oversight and transparency.
Uber drivers to train AI in their free time
Uber is launching a new program called 'digital tasks' that allows drivers and couriers to earn money by performing small online jobs. These tasks, such as recording voice clips or uploading photos, help train artificial intelligence systems. While Uber states these tasks are separate from its autonomous vehicle partnerships, they effectively contribute to the development of AI that could eventually replace drivers. The program aims to offer drivers flexible earning opportunities, building on a successful pilot in India. This initiative highlights the growing trend of using gig workers for AI data labeling.
CEO clarifies AI's role in layoffs
The CEO of Bin There, Felt That, a company making trash cans for children of divorce, has clarified his earlier remarks about using AI for layoffs. He stated that the company's new AI agent, JOE, is designed to handle employee departures in a humane and synergistic way. JOE will assist with final reviews, severance packages, and reminders to collect personal items. The CEO also mentioned that JOE has taken over payroll, HR, and lunch orders, freeing up human staff. He emphasized that AI is intended to assist and improve processes, not just replace employees.
Banks cautiously expand AI use for credit decisions
Major banks are increasing their investment in artificial intelligence, particularly for credit underwriting and overall efficiency. Citigroup is leading in embedding AI across its operations to reduce risk and improve customer experience. While AI offers potential for personalized services and using alternative data to assess borrowers, the collapse of Tricolor, a lender that used AI for underwriting, highlights the need for strong governance and validation. Banks are cautioned to balance AI-driven data models with rigorous oversight to avoid risks like model drift and bias.
Critics say AI is an excuse for job cuts
Companies are increasingly citing artificial intelligence as a reason for staff layoffs, but critics argue it's often used as an excuse. Experts suggest that some companies, especially those that overhired during the pandemic, are using AI to mask necessary workforce reductions or 'market clearance.' While AI can increase efficiency, there's skepticism about whether current layoffs are solely due to AI-driven productivity gains. This trend fuels employee fears about job security and raises concerns about corporate transparency in implementing AI.
Tucson council to discuss AI policy
The Tucson City Council will discuss developing a new policy for the use of artificial intelligence across city departments, particularly within the Police Department. Current guidelines for AI use are considered outdated given the rapid advancement of the technology. Councilmember Nikki Lee is pushing for clear rules to govern AI, especially for law enforcement, to ensure responsible implementation. The discussion aims to provide guidance on how the city can utilize AI effectively while addressing potential concerns and ethical considerations.
Sources
- INTERVIEW: Sumitomo Life to Mull Using AI Tech to Support Sales Agents
- Sumitomo Life to mull using AI tech to support sales agents
- Sumitomo Life Explores AI Tools to Modernize Insurance Sales Operations
- Starbucks is investing in AI predictive ordering
- Starbucks’ CEO Teases ‘AI Barista’: What Does That Mean for Actual Baristas?
- The Newest Artificial Intelligence Stock Has Arrived -- and It Claims to Make Chips That Are 20x Faster Than Nvidia
- Grant to Build AI Imaging Database for Polycystic Kidney Disease
- Inside AI’s pricing playbook: When the same product costs different for you and me
- Uber wants drivers to train AI in their free time
- A Clarification on AI from Your CEO
- AI’s Move From Banking Back Offices to Balance Sheets Warrants Caution
- Companies are blaming AI for job cuts. Critics say it’s a 'good excuse'
- Tucson Council wants to code up AI policy; Supe Heinz wants answers on refugee SNAP benefits | The Tucson Agenda - Click pic for more:
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