Leveraging AI in insurance with Violet Chung

March 8, 2023It's no secret that companies that integrate artificial intelligence (AI) into their business practices have a leg up when it comes to understanding customer needs and developing new products. For insurers, using AI could help deliver services seamlessly while breaking down silos internally and externally. McKinsey spoke with Violet Chung, a partner in the Hong Kong office, to understand more about what it takes for insurers to adopt AI into their business models and the benefits that come with adoption. McKinsey: What are the latest trends with AI that insurers should be aware of? Violet Chung: The latest McKinsey Global Survey on AI found that AI adoption continues to grow and deliver significant benefits to businesses: 50 percent of respondents reported using AI in at least one business function across their organizations.