Microsoft Partners with Conduent, Eyeing Business Ops
Business solutions company, Conduent has announced a new partnership with Microsoft. The partnership is focused on harnessing artificial intelligence’s power to spearhead advancements in healthcare claims management, customer service, and fraud detection through generative AI.
Svetlana Reznik, General Manager for Data and AI at Microsoft, highlighted the potential of generative AI at scale, stating, “Generative AI has the power to transform how businesses and organizations operate — serving as a force-multiplier to improve efficiencies and enhance customer experiences across a range of industries.”
Currently, the collaboration is focusing on three generative AI pilots. One of these involves the utilization of Microsoft’s Azure AI Document Intelligence and Azure OpenAI Service for intelligent data extraction from healthcare claims documents. This initiative aims to expedite the resolution process, significantly enhancing service speed and accuracy.
Additionally, the pair plans to leverage Azure services to boost fraud detection capabilities in payment processes and to enhance the responsiveness of customer service agents. These initiatives promise to increase both the volume and velocity of processing, setting new standards in the industry.
As one can imagine, the ripple effects of AI advancements are also reaching small businesses. These companies stand to gain considerably from these technological developments as new technology enters the market at affordable rates.
This is why Microsoft, alongside other major players in the tech world, is increasingly designing AI solutions not just for large enterprises but also for smaller operations. Reflecting on this trend, Microsoft recently introduced its smallest AI model Phi-3, tailored for businesses with fewer resources.
It is expected to address common challenges such as the need for minimal data and integration into existing workflows. Narayana Pappu, CEO at Zendata, remarked on its importance: “Small language models have a lower probability of hallucinations, require less data (and less preprocessing), and are easier to integrate into enterprise legacy workflows.”
Like with other investments elsewhere, it’s clear that Microsoft is hoping to gain significant market leverage through partnerships within the AI space. A few weeks ago, it was announced that the company invested heavily in Abu Dhabi-based AI company, G42.
This doesn’t even include other AI investments that have come to light in recent months, such as its new AI hub in London. One thing is clear, the AI investment race is only heating up.
Originally posted on OpenDataScience.com
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