Australian Unity Successfully Executes 7 of 78 AI Initiatives
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Australian Unity’s Careful AI Integration: A Pragmatic yet Effective Strategy
Quick Read
- Australian Unity has moved seven AI initiatives into production from 78 potential use cases.
- The organization employs a reserved strategy towards AI integration due to its cautious nature.
- A significant AI resource, BigID, assists in identifying and managing sensitive data across different departments.
- Distinct data management regulations are in place across Australian Unity’s various sectors.
The Thoughtful Embrace of AI at Australian Unity
Australian Unity, a member-owned entity operating in banking, financial advisory, retirement living, and private health insurance, has successfully deployed seven AI applications from a total of 78 recognized opportunities. During the Gartner Data & Analytics Summit, general manager of data and analytics, Craig Rowlands, announced this achievement.
Rowlands pointed out that the organization traditionally takes a conservative stance and is proceeding with AI integration judiciously. “For us, typically we would look to do things in-house first of all, make sure that we’ve got them to an appropriate level before sharing them wider with members and customers,” Rowlands mentioned.
AI Integration Process
The strategy for AI integration at Australian Unity employs a ‘funnel’ methodology. Currently, 78 use cases are under examination, with seven successfully creating value. The other initiatives are at various phases, from business case formulation to minimum viable product (MVP) progression towards production readiness.
BigID: An Essential AI Resource
A significant AI resource employed is BigID, a machine learning-powered tool that scans the organization’s realm for sensitive information. This encompasses personally identifiable information, health records, financial details, commercially sensitive information, and intellectual property.
Rowlands clarified that BigID allows organizations to pinpoint sensitive data in both originating systems and data replicas within the environment. Recently, it enabled the identification of sensitive data in a newly created folder on a shared drive, thereby facilitating remediation actions.
Data Management Across Varied Operations
The diverse operations of Australian Unity require distinctly tailored data management and lifecycle regulations. For example, the retention protocols for health insurance data vary significantly from those applicable to wealth management data. The utilization of AI tools like BigID aids in complying with these diverse mandates, ensuring adherence and data integrity across all divisions.
Conclusion
Australian Unity’s measured yet tactical method to AI integration has led to the successful deployment of seven AI initiatives out of 78 identified opportunities. By leveraging tools such as BigID for sensitive data management and following various data regulations across its diverse operations, the organization is making meaningful advancements in harnessing AI technology.
Q&A
Q: Why is Australian Unity prudent regarding AI adoption?
A: The organization has a history of risk aversion, favoring the development and refinement of AI solutions internally before broader implementation to ensure they meet established standards.
Q: What does the ‘funnel’ strategy involve?
A: The funnel strategy includes assessing 78 AI use cases, with seven already delivering value and the rest in various phases of development, ranging from conception to MVP and readiness for production.
Q: In what ways does BigID assist Australian Unity?
A: BigID is a machine learning-based tool that identifies sensitive data, aiding in its remediation and ensuring compliance with different data management protocols across the organization’s sectors.
Q: What varieties of data does BigID identify?
A: BigID is capable of identifying multiple types of sensitive information, including personally identifiable information, health data, financial records, commercially sensitive data, and intellectual property.
Q: How does Australian Unity handle data across its various sectors?
A: The organization utilizes AI tools like BigID to comply with distinct data management and lifecycle regulations required by its varied operations, including health insurance and wealth management.
Q: What are the next steps for the remaining AI projects?
A: The remaining AI initiatives are progressing through different development stages, evolving from business case formulation to MVP advancement and ultimately towards production rollout.
