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  • 01.05.17

A Japanese insurance firm has replaced 34 human employees with AI from IBM

Fukoku Mutual Life Insurance has replaced more than 30 employees with IBM’s Watson Explorer AI, reports the Guardian. The AI is able to read the medical records of policy holders and calculate payouts to them much faster than the human employees could. The company says it will see a return on its AI investment in less than two years. After the $1.7 million AI is installed, it will only cost $120,000 a year to maintain, saving the company more than $1.2 million a year in salary costs.MG