According to a December 2017 report by the research arm of reinsurance giant Swiss Re, the estimated global economic losses from natural and man-made disasters totaled US$306 billion in 2017, representing a 63% increase from US$188 billion in 2016. The report also estimated that global insured losses from disaster events in 2017 totaled about US$136 billion, or more than double than US$65 billion tallied in 2016.
Geohazards need to be better understood so that risk can be accurately assessed and protection or mitigation measures put in place. Geohazards maps are increasingly being developed based on reasoning from features identified in lidar and other remote sensing data. Minerva is developing AI based solutions which reason with complex technical data sets – seeking solutions for geohazards such as landslides, floods and wildfires. Minerva’s AI Platform, which adheres to data and terminology standards for auditing and explainability purposes, is ideally suited to geohazard mapping.
Minerva has already successfully produced landslide susceptibility maps, which provided results with high accuracy in British Columbia.