Japanese insurance firm Fukoku Mutual Life Insurance is replacing their 34 employees with AI workers who can eg. calculate payouts to policyholders.
A future in which human workers are replaced by machines is about to become a reality. Fukoku Mutual Life Insurance believes that AI workers will increase productivity by 30% and see a return on its investment in less than two years.
The AI will be able to read tens of thousands of medical certificates and factor in the length of hospital stays, medical histories and any surgical procedures before calculating payouts, according to the Mainichi Shimbun.
According to a 2015 report by the Nomura Research Institute, nearly half of all jobs in Japan could be performed by robots by 2035. AI will be making career not only in insurances, but it could soon be playing a role in the country’s politics too. Next month, the economy, trade and industry ministry will introduce AI on a trial basis to help civil servants draft answers for ministers during cabinet meetings and parliamentary sessions. The ministry hopes AI will help reduce the punishingly long hours bureaucrats spend preparing written answers for ministers.
Will this trend arrive to Europe soon?
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