AXA and Pearson reveal the AI use cases already offering their firms ROI - and their biggest AI concern

With IBM predicting the creation of one billion artificial intelligence (AI) apps by 2028, pressure is mounting on businesses to pick the right AI use cases for their company, and overcome issues with adoption.

At a recent panel that IBM chaired, AXA, Pearson and techUK shared the AI applications already offering returns, and how they’re dealing with constraints around the technology.

Data and pricing are two areas where AI is offering positive returns for the insurance sector, according to Natasha Davydova, CIO at AXA. She explains:

In insurance we have huge amounts of data, unstructured data, image, text, voice, and the AI is good with it. In the underwriting space, you can move from months and weeks analyzing historic data to hours and minutes.

Organizations can also become much more dynamic with their pricing, providing real-time prices.

Insurance policy

There are a variety of specific areas in the insurance ...