[Translated from Korean]
Daisy Founder and CEO Gary Saarenvirta has been featured in Money Today magazine, the most prominent business publication in Korea.
The article details an interview conducted with Saarenvirta, in which he discusses how AI has permeated our lives, Daisy’s AI solutions and the value they bring to retail and insurance, and the effects Daisy expects from entering the Korean market.
Find the full article from Money Today here.
After Google AlphaGo, AI quickly permeated human life. How advanced is AI after AlphaGo? And how do you think AI has changed our lives?
AlphaGo initially mimicked human play by matching the moves of experts from historical games, using a database of approximately 30 million moves. However, AlphaGo was trained further by being set to play games against other instances of itself, ultimately using reinforcement learning to improve game play.
Today, the same machine learning methods – i.e., reinforcement learning – are being used to solve increasingly sophisticated and complex problems that have real world applications. For example, choosing what items to promote out of the millions of items in a typical retail store or analyzing the claim details of the millions of claim documents in a typical insurance business.
At Daisy, we believe that computing machines can improve our lives. AI has the power to elevate the role of the human in the workplace, eliminating rote, repetitive tasks, and instead enabling employees to focus on innovation and strategy. This ultimately results in delivering increased value to customers, improving financial results, and increasing customer and employee satisfaction.
What differentiates Daisy Intelligence’s AI technology and solutions from competitors?
Daisy delivers explainable Decisions-as-a-Service (EDaaS) for retail merchandise planning and insurance risk management. Daisy’s unique autonomous (no code, no infrastructure, no data scientists, no bias) AI system elevates your employees, enabling them to focus on delivering your mission, servicing your customers, and creating shareholder value.
In retail, the Daisy system will deliver optimized assortment plans, improved demand forecasting and inventory allocation, dynamic price optimization for regular and promotional prices and promotional item selection.
For our insurance clients, the Daisy system detects and avoids fraudulent claims while enabling claims automation, minimizing human intervention in claims processing. Daisy’s solutions deliver verifiable financial results with a minimum net income return on investment of 10X.
Furthermore, our competitors sell tools that require data scientists to develop models. However, we believe data scientist led AI models are not scalable given all the opportunity to apply AI. Daisy offers a unique perspective that is backed by several years of experience applying EDaaS solutions. Through this experience, we have developed a set of best practices that we call AI Done Right.
Daisy Intelligence provides solutions using AI in retail and insurance fields. What value can Daisy Intelligence’s solution bring in the Korean retail and insurance areas?
In retail, Daisy will elevate the role of your category managers and merchants to deliver on your mission and better service your customers. We apply reinforcement learning to recommend what products to promote and not promote, what regular and promotional prices to charge, how much inventory to allocate, and what products to carry at each store. Our software automatically learns and rapidly adapts to changing consumer behavior and will recommend specific actions to your merchants and category managers without requiring any data scientists or data interpretation.
In insurance, Daisy applies machine intelligence to serve the health, travel medical, and property and casualty insurance industries. We apply reinforcement learning and fuzzy logic to resolve identities, detect suspicious claims and avoid costly fraudulent payments, all while automating claims processing. When complex decisions require intervention, your employees will receive contextual guidance from Daisy that saves you time and money. The Daisy system will also augment your analytics capabilities, integrating your AI models to leverage your internal expertise. We deliver verifiable financial returns, labor savings, and low IT investment.
What does Daisy Intelligence think is a promising field of AI utilization in the future? Also, what industry is Daisy Intelligence paying attention to?
In the future, there are vast opportunities to bring autonomous business into a myriad of industries. For example, the healthcare, banking and finance, education, and manufacturing industries all would vastly benefit from increased automation and the application of AI software. AI could even drastically improve various government programs and sectors. Daisy is paying particular attention to the healthcare industry, but we also see an opportunity to expand into the banking and finance and manufacturing industries.
What effect does Daisy Intelligence expect from entering Korea?
By entering the Korean market, we hope to gain local business partners and prospects in high frequency retail and the health, travel, and property and casualty insurance industries. We also expect to learn a great deal about the ins and outs of doing business in Korea.
We hope that entrance into the Korean market, and our learnings about business in Korea, will also translate into an opportunity to meet business partners and prospects across Asia, as well as an opportunity to expand our business and bring our AI solutions to the retail and insurance industries across Asia.