ChatGPT and AI adoption in insurance

The upstart ChatGPT heralded an advent of conversational-AI platforms that can passably converse with humans based on a wide range of inputs. In addition to ChatGPT, which is made by the Microsoft-backed nonprofit OpenAI, other big tech companies are getting into the game with competing projects from Google (Bard) and Facebook (LLaMA). The rise of AI to kitchen-table prominence raises a question: Are insurance companies, which have been transforming digitally for years, ready to invest further in large language models and turn their precious customer relationships over to a chatbot? Forrester Principal Analyst Indranil Bandyopadhyay says that a big AI revolution in insurance isn't going to happen overnight. "I don't see the majority of the insurance industry going and jumping into these emerging technologies. It will take some time," Bandyopadhyay says.