San Diego, California — September 12, 2017 — Mitchell has released its Industry Trends Report (ITR) for the third quarter of 2017. In this edition, Mitchell executives share insights on how combining artificial intelligence and augmented reality can lead to new opportunities, how “smart” technology is impacting auto claims workflows, and how insurers combine data with expertise to optimize the claims process.
According to Robert Scoble and Shel Israel, authors of The Fourth Transformation, we are entering a new stage in technology transformation, one in which augmented reality and artificial intelligence are merging, and smart glasses are leading the way. For the collision repair and insurance industries, smart glasses may change the way people in the insurance ecosystem work. The technology has the potential to streamline workflows and ensure complex vehicle repairs are done correctly.
In this edition of the ITR, Alex Sun, President and CEO of Mitchell, discusses how in the future the combination of augmented reality and artificial intelligence, particularly computer vision, may be able to take real-time information about an environment, evaluate against known information and push immediate guidance to the end-user. While the full potential of these technologies is still a long way off, they have valuable applications for the collision repair industry and the broader auto claims economy.
The industry has been buzzing for some time about the emergence of “smart” technology entering the claims workflow – from natural language processing to machine learning and artificial intelligence – the frequent tech talk has left many wondering what’s next? While artificial intelligence promises to be transformational over the long-term, it must first gain traction by making tangible improvements that expedite and simplify the auto claims workflow.
In this article, Olivier Baudoux, Vice President, Global Product Management, Auto Physical Damage Solutions, discusses a few of the challenges artificial intelligence is poised to help carriers overcome, like improving claims outcomes while simultaneously absorbing a heavier workload and maintaining estimate accuracy and repair quality.
The complete report is available at mitchell.com/industry-trends-reports.