27 April 2020
The Alan Turing Institute, the UK’s national institute for data science and AI, and Cervest, the Earth Science AI company, have teamed up to develop climate change research. They aim to develop data which is currently lacking in certain regions across the world, allowing organisations and communities to have a better understanding of climate change risks.
To achieve this, they will combine Alan Turing Institute’s multiresolution machine learning algorithms and Crevest’s data engineering platform and machine learning algorithms to create “Multiresolution Multitask Learning Models”. These models will create “high resolution images of areas of land, by integrating information and evidence for multiple resolutions across space and time”.
D-risk group and Airbus Defence and Space Ltd have also teamed up to “support financial institutions and financial real estate operators with a state of the art climate risk analysis service”. The service will use data to map flood risks against residential properties, to understand future climate change risks.
Could this science-backed data be integrated into actuarial climate change risk modelling?