AI in Insurance Needs to be Safe and Fair

AI in Insurance Needs to be Safe and Fair

Insurance
Airlie Hilliard

Airlie Hilliard

05 Oct 2022

Ubiquitous adoption of AI in insurance

Artificial intelligence (AI) is increasingly being adopted across all sectors, with the global revenue of the AI market set to grow by 19.6% each year and reach $500 billion in 2023. One sector capitalising on the benefits that AI and the associated automation can bring is the insurance industry, with AI used in three key activities:

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