In their recent insight, KPMG looks at how Artificial intelligence is becoming a key priority as insurance organisations navigate complexity in a fast-paced world.
Artificial intelligence (AI), along with generative AI (Gen AI), offers untapped value for those who are willing to embrace change and can navigate the associated challenges. Whether it’s automated claims, assessing risk, personalisation of products and services, or fighting cybercrime, insurance organisations are increasingly looking towards AI to help tackle complex and time-intensive tasks, and to streamline processes.
Unlike previous technological leaps, GenAI’s capabilities are evolving at an unprecedented pace. The accuracy, robustness, and potential value of these models are rapidly increasing. The initial frenzy of rapid Proof-of-Concepts (POCs) and the identification of countless use cases, while perhaps fuelled by hype, have provided something far more valuable: a reality check.
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