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How Insurer Execs, Workers View Artificial Intelligence and Future Work

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Insurers can seize major growth opportunities by redesigning work, bringing in new talent, and pivoting their existing workforces to work with artificial intelligence (AI), according to a new repot by Accenture. The report, Future Workforce Survey – Insurance: Realizing the Full Value of AI, maintains that insurers that invest in AI and human-machine collaboration at the same rate as top-performing businesses could, over the next five years, boost their revenue 17 percent and their employment 7 percent, on average. According to the report – based on two surveys, one of 100 senior insurance executives and another of more than 900 non-executive insurance workers in 11 countries– the insurance workforce needs to be trained to collaborate effectively with AI. For instance, the executives surveyed believe that only one in four of their workers are ready to work with AI, and more than four in 10 (43 percent) cite a growing skills gap as the top factor influencing their workforce strategy. A majority (61 percent) of the executives surveyed expect that the workforce of the future will be a blend of humans and machines.