Rackspace recently conducted a global survey and determined that the adoption of artificial intelligence technologies has led 62% of insurance carriers to cut staff.
Further, this trend is expected to continue with 52% of insurers already having experienced “substantial benefits” from the use of AI and 90% of respondents having increased their AI staff over the past year.
In fact, AI is now the top priority in the IT departments of 81% of insurers, with the most commonly reported ways in which AI has benefitted insurers including competitive advantages like better understanding customers, improved risk management, increased sales, increased productivity, increased customer satisfaction, decreased operational costs, and personalized marketing.
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