How AI is Transforming Businesses on the Central Coast

Podcast March 27, 2024 by American Riviera Bank

Join us for an in-depth exploration of the transformative impact of Artificial Intelligence on businesses and industries with our guest Max Drucker, CEO of Carpe Data in Santa Barbara. Discover how AI is influencing the future of work, particularly in the insurance sector, and gain insights into the evolving landscape where data science and regulatory environments intersect.

Delve into the ways AI is reshaping processes and outcomes, and learn how companies like Carpe Data are leveraging data and predictive models to automate processes and drive positive change.  Tune in to stay ahead of the curve and embrace the exciting changes AI is ushering into the business world.

Summary

A.I. is having a transformative impact on businesses in the Central Coast region. By leveraging data and predictive models, companies like Carpe Data are automating processes and improving insurance outcomes. These new technologies allow insurers to grow and scale without replacing their workforce, which is particularly beneficial considering the tight labor market. While the jobs of actuaries are already changing and experiencing overlap with data science, the regulatory environment may take time to catch up to pure data science models. Overall, A.I. is ushering in exciting and positive changes for businesses in the region. 

Max Drucker, CEO Carpe Data

As co-founder and CEO, Max leads Carpe Data in the development and execution of the business. Prior to Carpe Data., Max co-founded Steel Card, an enterprise software company, which focused on creating web-based applications for insurance companies. Max oversaw all aspects of Steel Card’s operations, including acquiring new business and managing Steel Card’s client relationships. Working with KPMG Corporate Finance, Steel Card was sold to ChoicePoint (NYSE:CPS), a company now owned by Lexis-Nexis, in a substantial all cash transaction in August 2006. After the sale, Max served as General Manager for the Personal Lines Software Division of Insurity, a ChoicePoint company.