Munich Re turning its attention to artificial intelligence
The reinsurer has acquired membership to the German Research Center for Artificial Intelligence (DFKI). All existing shareholders still need to approve the new member, and are anticipated to do so by the end of Q1 2019.08 Mar. 2019 Barbara Rusch
The DFKI is a not-for-profit public-private partnership (PPP) and one of the leading AI research institutes in Europe. In addition to project funding from the EU and the German government, the DFKI also receives support from its members, including high-tech companies such as Airbus, BMW, Bosch, Google, Microsoft, SAP, and Volkswagen – and now reinsurance company Munich Re.
“Not only will the partnership help us develop the most modern, effective, and best processes for our clients, it will also make the latest research available to our employees and further advance research in this field,” says Torsten Jeworrek, member of the Board of Management of Munich Re. For Professor Wolfgang Wahlster, CEO of the DFKI, the new partnership offers enormous potential for innovation. He believes that the real-time demands of Munich Re’s big data analytics open up fantastic application possibilities, particularly for deep learning, speech perception and machine vision technology, the interpretability of deep learning results, and sensor fusion.
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