Daisy Intelligence Nominated for the 2018 Insurance Nexus AI Pioneers Awards

Daisy Intelligence Nominated for the 2018 Insurance Nexus AI Pioneers Awards

All of us here at Daisy Intelligence are super-excited about being nominated for the 2018 Insurance Nexus AI Pioneers Awards! With significant AI initiatives industry wide, the Awards recognize the companies that are daring to risk and lead the path in the Insurance AI space. Daisy Intelligence has been nominated in the ‘Claims Application’ category. This is critical for claims transformation. Deploying AI (Artificial Intelligence) solutions like Daisy Intelligence Fraud Detection to flag fraudulent claims offers the potential to save hundreds of millions or more in excess payments. In fact, earlier this year, our National paper, Toronto’s Globe and Mail, did an exhaustive investigative piece on organized crime and insurance fraud, (“Tales from the Fraud Squad” 3/20/18) where they quoted our CEO and looked at how Daisy Intelligence’ A.I. solution is used to combat insurance fraud in Canada. The winners will be decided by the insurance community through a voting process that is now open… so to cast your vote, please visit: www.bit.ly/2x0ggLf The winner will be announced live onsite on Wednesday, June 27th at the Awards Ceremony hosted by Insurance Nexus at the leading industry conference, Insurance AI and Analytics USA (June 27th & 28th, Radisson Blu Aqua Hotel, Chicago). About Daisy Intelligence Daisy Intelligence is an artificial intelligence software-as-a-service company that analyzes very large quantities of our clients’ transaction and operational data in order to make automated operational decision recommendations which our clients can immediately action to improve their business. Using our proprietary mathematical solutions and the Daisy A.I. based simulation platform, Daisy Intelligence analyses 100% of the tradeoffs inherent in any complex business question and provides...
Cutting Through the Artificial Intelligence hype

Cutting Through the Artificial Intelligence hype

A.I. is powering the future of retail. Aside from being a dramatic-sounding headline, it’s the title of a recent presentation issued by the research firm CB Insights – “The Smarter Store How AI is powering the future of retail” Sure, voice-bots and robots in the aisles are interesting – however, the immediate and significant impact of A.I. is in finding operational efficiencies in areas of the business where it’s humanly impossible for people to measure all the interconnected relationships and trade-offs to make smarter, more profitable decisions. Most retailers will acknowledge that the areas promotions, pricing and demand forecasting are ripe for a more advanced and holistic approach.       Over the past couple of years there’s certainly been no shortage of marketing content, articles, research reports, conference presentations and white papers that purport to tell everyone what A.I. powers… i.e., retail, insurance, medicine, finance, everything… but who is helping us cut through the hype and telling is what A.I. actually is and what it isn’t?     As Daniel Faggella from the consultancy TechEmergence says, the hype is making it hard for business leaders to determine who is providing actual A.I  ‘artificial intelligence’ and ‘machine learning’ are used as buzzwords, mere fiction used to get attention, client inquiries, and investment from VCs.” The stakes are high and the risks are two-fold: one, a retailer may invest in what is thought to be an A.I. solution provider, not see results and write A.I. off as hype; and two, fail to keep pace as A.I. continues to drive prices down. Through the rise of GPUs, analysis that was computationally impractical just a...
Daisy Intelligence Named a Cool Vendor in AI for Retail by Gartner

Daisy Intelligence Named a Cool Vendor in AI for Retail by Gartner

Toronto Artificial Intelligence software-as-a-service company is one of three vendors designated for 2018 Daisy Intelligence Corporation, an Artificial Intelligence software-as-a-service platform, today announced inclusion in the list of Cool Vendors in AI for Retail (1) by Gartner, Inc. “It’s very gratifying to be named by Gartner as a Cool Vendor In AI for Retail because we feel it confirms that our mission to bring our unique brand of ‘Reinforcement Learning‘ based artificial intelligence to the retail industry is succeeding,” said Gary Saarenvirta, CEO of Daisy Intelligence. “Our game-changing ‘Theory of Retail™’ which involves the deployment of massive computational power and advanced math to find relationships between products and other external factors to optimize profitability is starting to garner significant attention in the retail industry. ” Daisy Intelligence was launched in 2016 to solve clients’ most challenging operational problems that are beyond human capability by delivering intelligent decisions using math and science. According to the report summary (https://www.gartner.com/doc/3873631?ref=lib ), the Cool Vendor research is intended for CIOs “to find new and innovative vendors supplying AI solutions that support a variety of retail business benefits.” [1] Gartner, Cool Vendors in AI for Retail, by Robert Hetu, Miriam Burt, Published May 02 2018 ID G00354374   Disclaimer: Gartner does not endorse any vendor, product or service depicted in our research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including...
How AI Optimizes Demand Forecasting for Grocers

How AI Optimizes Demand Forecasting for Grocers

Grocers who rely on the discipline “Demand Forecasting” to live up to its moniker, i.e., accurately predict future demand for specific products, have, unfortunately needed to maintain a healthy tolerance for inaccuracy. In fact, grocery retailers today are challenged to properly manage and allocate inventory with forecasts having errors ranging from 40% – 60% plus. The key word here is ‘Accurately’. Less-than-accurate demand forecasts lead to an “Overstock” situation, with too much inventory creating a drain on profitability. “Under-stocked” i.e., not enough inventory, means loss of potential revenue and dissatisfied customers. It is important to note that there are already number of sophisticated demand forecasting software product suites available in the market. The problem is that their efficacy and potential has been limited by the available technology and computing capacity. They analyze every product SKU and transaction as if it were an isolated incident, and the problem with this approach is that it doesn’t reflect reality at all. The enormous flaw with the way grocers execute demand forecasting is that it does not take into account variables in purchasing behavior such as product cannibalization, promotional cadence, seasonal impact and key product affinities, etc. because these occurrences are simply too esoteric or mathematically complex for standard demand forecasting tool-sets. With Moore’s Law continually driving the cost of computing downward, it is now feasible to process all the data we collect. Further advancements in computing power will create an environment dominated by Artificial Intelligence (A.I.) Successful demand forecasting requires a much more complicated formula than one can develop from simply running sales numbers for individual product SKUs. To predictably grow top-line...