As these advancements propel the industry forward, leaders report concrete benefits.
Generative AI has emerged as the standout trend of the decade! As companies tackle the challenges of integrating AI and Generative AI solutions, we aimed to grasp its effects on the insurance sector to date.
We conducted an extensive survey involving 100 business leaders from US insurance companies with revenues surpassing $500 million. Our objective was to explore the ways in which AI is transforming their operations and if it genuinely fulfills the revolutionary commitments put forth by AI experts.
Our research reveals a split in AI adoption. Although all companies have started integrating AI, 54% remain in the exploratory stage with restricted use. Meanwhile, 46% of businesses are at the forefront with advanced implementation processes.
The gap will narrow as innovations, global competition, and autonomous AI solutions challenge algorithms and reduce reliance on large infrastructure investments.
As these advancements propel the industry forward, leaders report concrete benefits.
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