The digital overhaul of the insurance industry that exploded in the last decade will only continue its momentum into 2020 and beyond. As the marketplace continues to become increasingly fast-paced and data-driven, carriers are making more and more investments into capabilities to help them compete, chief among them: artificial intelligence (AI) and machine learning (ML). A new insurance research report from LexisNexis Risk Solutions sought to analyze the state of AI and ML in the insurance industry in 2020 by identifying carriers' perceptions and the potential benefits and challenges impacting AI and ML adoption. To do so, LexisNexis Risk Solutions researchers surveyed more than 300 insurance professionals across the top 100 U.S. carriers within the auto, home, life and commercial markets, working among varying insurance roles. The slideshow above outlines six key findings from "The State of Artificial Intelligence and Machine Learning in the Insurance Industry" report, which include four identified challenges in using and adopting AI and ML. See also:

• P&C insurance technology trends to watch in 2020
• More attacks are coming: 5 things to know about cyber in 2020
• 2020 Insurance Outlook: Insurers adapting to a volatile economy