| | April 20219This degree of standardisation the AI Factory has results in a perfectly efficient engine within which imperfect data can be moulded into working model algorithms.How to deal with imperfect data in a highly regulated environmentGiven the highly regulated environment and complex nature of the primary insurance business model compared to other industries, I am sure we are facing extra challenges. This is certainly true when it comes to the secure and compliant handling of personal data. Very often when we are in initial AI model training, we have to recognize that our results do not meet our expectations. This is quite simply because we are working with imperfect data. The data sets provided might well be filled with all the data the business lines have collected, but there are still variables missing. The difficulty with these hidden objects is that we do not know what to look for and what patterns are included. This process is analogous to finding a needle in a haystack.So, we have to stick our heads deeper into the millions of data rows, clean up data and find out how to adequately make the corrections available to our algorithms. We ultimately scale down the haystack until we find the needle. Since we started the AI competence centre, we have implemented nine AI algorithms into our ERGO Germany business lines. Over the nine development processes, the path taken was virtually identical as we constantly had to take turns, change direction and adapt to find suitable setups.Here, a standardised process like the AI Factory helps to keep focus on such challenging tasks.ERGO's AI factory to become a fundamental building block of digital transformationWe know our AI Factory is just at its beginning. However, with every algorithm we deploy, with every task we create, a more mature environment system evolves. This initial foundation is then able to develop into a complex ecosystem ­ for sharing, processing, and leveraging our data assets.Starting the move from our on-premise analytics environment to our current cloud-based infrastructure only three months ago, we have already been able to push several use cases through the AI Factory ­ with increased efficiency. From this development, the AI Factory is a fundamental building block that is helping to achieve our strategy goals at ERGO.This innovation will allow us to provide the company with new technological capabilities for achieving profitable growth and to become a digital leader in insurance - not just in Germany but also in our core markets worldwide. We know our AI Factory is just at its beginning. However, with every algorithm we deploy, with every task we create, a more mature environment system evolves
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