Search
 

AI: Yes, Its Here

As far back as the 1980s, the insurance industry was hearing of the wondrous powers of artificial intelligence (AI), leaving the impression that computers were ...

By Derek Koch | Updated on November 30, 2001

As far back as the 1980s, the insurance industry was hearing of the wondrous powers of artificial intelligence (AI), leaving the impression that computers were becoming so sophisticated that there would be little need for human intervention in most business decision processes. So, here we are in 2001 with little change in the insurance business and personnel structure, other than the compounded growth of the IT staff. So what happened? Its 2001wheres HAL?

The answer lies in the difference between the pace of technology development and the level of expectations over the last several decades. Its been 45 years since the term artificial intelligence was introduced at a Dartmouth College conference in 1956. Since that time, and probably thanks to Hollywood, weve grown to expect AI to manifest itself as machines acting like real people. So when we look at AI and its application to business, were often disappointed that day-to-day business is still dependent on human reasoning and intervention.We all seem to agree that there is value in using AI in insurance, but after 45 years the questions remain: What value? What kind of AI?

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2024 ALM Global, LLC. All Rights Reserved.