To be successful with AI, insurance executives should adopt the view that this technology serves as a key component within their overarching business strategy. (Photo: Shutterstock)
Artificial intelligence (AI) is hot. Funding for AI startups has steadily increased over the past decade as a host of innovative tech entrepreneurs have stepped forward to solve a broad range of business problems. In many respects, AI is a natural fit for the insurance industry. This business is a numbers game; it's about understanding correlation, predicting risk, and identifying trends and anomalies, so the current rush to adopt AI doesn't come as a surprise.
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