Floods are the most common natural disaster worldwide. A flood is demarcated as an overflow of water that submerges land that is usually dry. Flash flooding befalls when heavy rainfall over a short period hits areas with inadequate drainage. Other causes of flood events comprise high tides, storm surges, river overflow, and snow melt. Each year, floods extinguish assets worth billions of dollars. In the last five years alone, monetary losses caused by floods worldwide were estimated at 299 billion U.S.

The buzz around digital transformation and the shift toward an API-first approach is prevalent in today’s Employee Benefits industry. However, after engaging in over 30 detailed conversations with industry professionals over the last three months, it has become clear that the reality on the ground diverges significantly from the prevailing discourse. Throughout 2023, I observed a notable increase in the number of companies within the Benefits space using our integration platform.

To keep up with everything happening in the world of artificial intelligence, it helps to understand and grasp key terms and concepts behind the technology. In this introduction, we are going to dive into what is generative AI, looking at the technology and models they are built on. We'll discuss how these models are built, trained, and deployed into the world.