Much of the hesitancy in adopting AI technology involves a fear of the unknown and uncertainty as to what approach to take. (Photo: Shutterstock)
Whenever I speak with claims executives, they tell me how they are being inundated with information about artificial intelligence (AI). Many are reluctant to adopt this technology although they know delaying the investment can result in diminished business in the future.
According to "Making AI Responsible — and Effective," a 2018 Cognizant AI survey, "only 51% of insurance executives said that AI technologies were extremely or very important to their company's success today, which is lower than for any other industry." Why does our industry lag behind others? Much of the hesitancy regarding the adoption of AI technology is a fear of the unknown and uncertainty as to what approach to undertake.
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