At VAIOT we get a lot of questions about our collaboration with IBM. Thus, we created a previous article called: Introduction to IBM Watson. However, we found that that still does not answer all your questions. Therefore, in this article, we will be going through what the VAIOT and IBM Collaboration entails. So, let us dive right into it.
At the heart of the comprehensive VAIOT systems are several IBM-created technologies that have been tailored to the needs of VAIOT and fully exploit the solution’s potential.
The IBM Watson Assistant — a comprehensive framework that allows you to create intelligent assistants, bots, and other forms of communication with consumers — is one of the elements implemented by VAIOT. The solution is effective, intuitive, and, most importantly, adaptable. The IBM Watson Assistant enables VAIOT to provide a higher level of conversation fluency and increased user experience while dividing into different specialty areas for Legal Assistant, Broker, and Merchant.
Thus, VAIOT and IBM Services worked together to develop the Intelligent Virtual Assistant (IVA), integrating the IBM Watson Assistant to conduct the conversation with the customer and collect the required information to create the contract. The IVA employs blockchain technology as part of the underlying structure in authorization, readiness to sign, and storage operations for increased security and efficiency. It enables not only the immutability of transactions (the exchange of data and values), but also the immutability of AI (ARTIFICIAL INTELLIGENCE) algorithms.
The IVA is accessible through a simple mobile app and uses Natural User Interface (NUI) technology to conduct voice conversations. As a result, the IVA will collect all the customer information required to prepare a highly personalized insurance offering in the form of an Intelligent Contract.
The end-user will be able to buy car insurance using VAIOT’s IVA, which is running on IBM Cloud, and will receive support throughout the entire process of purchasing decisions, issuing, and delivering the insurance policy. When using the IVA to purchase a car insurance policy, the user can easily answer specific questions about required data such as expected yearly mileage and storage, registration number, and the type of coverage the user wants to receive within the car insurance policy.
VAIOT’s IVA was developed responding to the insurance industry’s growing digital demands, such as self-service and automation. In recent years, AI-powered smart assistants have taken the market by storm. Customers, particularly during a pandemic, increasingly expect to receive services and conduct transactions instantly and digitally, and automation allows for cost reductions and greater efficiency, freeing humans from the yolk of mundane tasks.
“Advancements in AI, automation and hybrid cloud are helping enterprises around the world achieve new levels of efficiency and customer satisfaction,” says, Paweł Raczyński, Global Technology Services Leader, IBM Poland, and Baltics. “IBM is working with VAIOT to bring together IBM Services’ industry expertise with IBM Watson’s cutting-edge natural language processing capabilities to deliver innovative solutions that provide a seamless customer experience.”
Furthermore, IBM Watson Discovery, which searches for interaction and information patterns, is a critical component of VAIOT. On this basis, it generates a data resource to be processed. VAIOT can create highly intuitive Artificial Intelligence and blockchain-based solutions thanks to IBM Watson Technologies, enabling a new channel for delivering and accessing numerous services with a vastly improved user experience.
VAIOT is dedicated to transforming the business and legal sectors, and with Watson, we have a proven foundation on which to build the assistants of the future.