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4 AI-related trends shaping insurance

Information Management Resources

An in-depth examination at what the industry may look like in 2030 highlights dramatic changes across the value chain.

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Attracting and Retaining the Next Generation of Information Management Leaders

AIIM

civilian labor force by 2030, according to the U.S. Jeff Lewis from Farmers Insurance pointed out that the pandemic may have shaped the perceptions and experiences of Gen Z, who entered the workforce during the pandemic. The demographics of the workforce are changing. Bureau of Labor Statistics. Empathy plays a crucial role in this.

Insurance 104
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The benefits of AI in healthcare

IBM Big Data Hub

According to Statista , the artificial intelligence (AI) healthcare market, valued at $11 billion in 2021, is projected to be worth $187 billion in 2030. Census Bureau , 28 million Americans didn’t have health insurance in 2020, and even those with insurance don’t always have coverage for every type of screening they need.

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Conversational AI use cases for enterprises

IBM Big Data Hub

billion by 2030. Conversational AI is also making significant strides in other industries such as education, insurance and travel. It signifies a shift in human-digital interaction, offering enterprises innovative ways to engage with their audience, optimize operations, and further personalize their customer experience.

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Getting ready for artificial general intelligence with examples

IBM Big Data Hub

Regardless, given the wide range of predictions for AGI’s arrival, anywhere from 2030 to 2050 and beyond, it’s crucial to manage expectations and begin by using the value of current AI applications. These systems excel within their specific domains but lack the general problem-solving skills envisioned for AGI.

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How data, automation and AI are transforming Business Process Outsourcing into a competitive advantage

IBM Big Data Hub

According to organizational consulting firm Korn Ferry, more than 85 million jobs could go unfilled by 2030 because there aren’t enough skilled workers to take them. Generali also became one of the first insurance companies to use AI to tackle the complex task of escheatment, or returning unclaimed assets and property.

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How AI is fueling the growing market for cloud-based data unification

Reltio

Data fragmentation and silos are common challenges faced by various industries, including financial services, insurance, B2B, and retail. Financial institutions struggle with regulatory compliance, while insurance companies face inefficiencies in underwriting and claims due to siloed data.