AI, machine learning may be key to further insurance digital transformation

The pandemic has pushed IT departments to adapt quickly to various challenges. A new report, IT's Changing Mandate in an Age of Disruption, suggests that to continue with various digital transformations and increase adaptability for the future some IT improvements must be made. For the insurance industry, artificial intelligence and machine learning may be key, according to the report, which was conducted by the Economist Intelligence Unit, supported by Appian, an enterprise software company. The report includes information from two surveys, conducted in May and June of this year, and responses from 1,002 IT and senior business executives, who worked across six different sectors including financial services and insurance and were from nine countries. Forty-one percent of respondents from the insurance industry said expanding the use of AI and machine learning is the most impactful way that technology can help organizations respond to potential changes.