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[CUBE NEWS] Korea Post Office, Blockchain Insurance Billing System to Be Introduced

The Korean post office will introduce an insurance claim system that uses blockchain within this year. The Gwangju Regional Public Procurement Service has issued a bidding announcement on March 11, saying that the Postal Service headquarters will introduce computerized billing system using blockchain as a part of information infrastructure construction service.

The post office said it was planning to build a blockchain-based insurance claim system for insurance business in early February. It is a system that can claim the medical insurance benefit by using blockchain. The post office also said that it plans to install computer equipment in preparation for system operation and hospital expansion.

Previously, the post office also signed a business agreement with Jeonbuk Bank of JB Financial Group, for ‘joint development of the fourth industrial revolution field’, including the development of blockchain technology. At the time, the general manager of the post office, said, "The post …

AI Predictions for 2018

In 2017, artificial intelligence gained a lot of momentum as development and utilisation took a serious step in the right direction. For example, chatbots were developed to assist with customer service and algorithms regarding customer targeting became more comprehensive. In 2018, things are going to get even more interesting as that momentum will carry through and lead to new breakthroughs.

Here we will examine the biggest AI predictions worth paying attention to in 2018. The implications of these new trends have the potential to completely transform the way business is done, and even how we live.

Blockhain Technology and AI
The majority of cryptocurrencies are currently powered by Blockhain technology, an invention by Satoshi Nakamoto. It is basically a way of recording transactions, with the data not being stored in a centralised location. Therefore, hackers will have a harder time corrupting the data.
Unfortunately, hackers can weaponize AI and bend it to their will. Combining Blockhain technology with AI can combat this. Companies like Cube are developing security systems that make hacking the AI code more of a daunting prospect for the hacker. Their focus is on protecting autonomous car networks – an industry of cybersecurity that will explode in the future.

Customer Interactions
It’s estimated that 85% of customer interactions by 2020 will be AI based.  The advantages of automated customer service for business is not only practical, but can help convert the customer into a sale. AI based system will be connected to other departments and huge databases of information. Based on browsing history, previous purchases and demographics, an AI system can figure out what customers may want to buy next.

A chatbot can consistently portray the brand of a company, whereas an employee can sometimes neglect to do so. However, the biggest advantage of chatbots is to help with mundane tasks like helping recover a password, or give shipping information on a specific product. Such low levels tasks can cost companies a lot of money over the course of the year. A well-developed AI system presents huge savings in this area.

Improvements In Voice based AI systems
In recent years, voice based AI system have begun to appear, but they have been disappointing. The biggest shortcoming is the inability of the AI system to correctly interpret the voice commands of the human. However, there is a big demand for voice based systems as 27 million people in the US alone have bought voice based devices. The most popular among them is Amazon’s Alexa and Google’s Home system.

In 2018, the accuracy of voice recognition is set to improve drastically. This makes using such systems for purchases a more viable process. It’s not far-fetched to be in the bathroom and say: “Alexa I need an order of my favourite toothpaste”. This would automatically order your regular toothpaste to be delivered. Some believe that voice is the next big thing in search engine optimization, and it may change the way we buy things.

Scrutiny Will Increase
In recent years, AI has been portrayed as a cool new technological wave that has a lot of potential. However, as the adoption of AI increases in 2018, it will become increasingly scrutinised by companies across various industries. The ability of algorithms to make instant calculated decisions is impressive and much needed – but what happens when incorrect decisions are made? What are the ramifications?

Expect companies in 2018 to not only enquire about the predictive power of AI, but also the accuracy and security flaws. The practicality of using AI systems must be worked on, and security based technologies like blockhain are a step in the right direction.

The AI trends of today will shape the nature of AI use by the end of this year. It is unclear how it will all play out, but with all the interest and investment in AI systems, it is safe to assume that huge leaps forward will be made soon. Companies aligning themselves with the support of AI systems can set themselves up for the future. For instance, we are hoping the AI cybersecurity blockhain we are developing at Cube will play a major role in the autonomous vehicle industry.

Keep in mind that the predictions for 2018 in this article are just that, predictions. The way things unfold is yet to be seen, and the AI shifts that will actually take place could be a complete surprise to everyone.