AI to be top tool as captured data volume rockets - Insurtech - Insurance News - insuranceNEWS.com.au

Rapid advancement in Artificial Intelligence (AI) technologies over the next decade will allow insurers to capitalise on the capture of vast swathes of digitised data from diverse sources, Finity says. Gone are the days of the data only being stored in database tables. More and more data organisations are now leveraging "natural language" data: documents, emails, transcribed phone conversations, and photos and videos. The amount of data stored in the digital universe globally has been estimated at 44 zettabytes – around 40 times the number of stars in the observable universe, or 4.4 followed by 22 zeroes. "As insurance professionals we know the importance and power of data and this trend isn't going to slow," Finity Principal Marcello Negro said.