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Artificial Intelligence has become a hot topic just about everywhere you look, including here on this blog.
A recent piece in Coverager looks at some of the ways AI seems best suited to practically impact the insurance industry so that companies can ensure that the coming changes are ultimately changes for the better.
After noting that AI is positioned to replace 85 million jobs worldwide by midway through this decade according to some estimates, and that 1 out of 5 businesses within the insurance space were already using AI in some capacity, the authors go on to list fraud detection/prevention, communications with clients, on-boarding new producers, and claims administration as business areas that AI is primed to address.
You can read more about how AI can benefit the insurance industry here.
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