By: Chris Skinner
October 9, 2019
I just picked up a Financial Times article talking about how Artificial Intelligence (AI) will change the way you deal with money. It’s actually more about the Chinese internet giant Ping An, and how they’re changing finance using AI.
If you are a customer of Chinese financial services group Ping An, you can use a new service allowing you to send the company photos of your [damaged] vehicle [after an accident] captured on your smartphone. Its computers will automatically assess the damage, cross-check records of your driving history and offer you a while-you-wait quote to settle the claim — bypassing the usual rigmarole …
… imagine you are applying for a loan and your prospective lender requires you to answer a series of questions while looking into a video app on your smartphone. The reason? To allow the system to discern facial micro-expressions that might suggest you are lying. Another initiative from Ping An, this AI-driven software is one of the more striking developments in fraud prevention.