The insurance sector is accelerating its adoption of artificial intelligence (AI), with over half of industry professionals planning to implement AI solutions within the next 12 to 18 months, according to a recent report sponsored by Salesforce. Titled 'The Cost of AI: The AI Revolution Gathers Steam', the report underscores the transition of AI from experimental projects to a central role in enterprise strategies, despite the increasing financial investments required.
Key findings from the report illustrate the diverse applications of AI in the insurance industry, including areas where companies are seeing the most value, the drivers behind rapid adoption, and the impact of generative AI on enhancing customer experiences. Janet King, SVP of Content Strategy and Research at Arizent, emphasized the efficiency gains from aggressive AI implementation, with nearly all organizations expecting to boost their AI spending in the coming year.
For further details, the full report is accessible here.
