Insurance companies will spend on average $90 million on artificial-intelligence technologies by 2020. That would place insurers in 4th place behind telecos ($131 million), high tech ($119 million), and banking ($99 million) in AI spending by the end of the decade.
Most insurers already use ‘virtual assistants,’ survey shows Carriers will invest significantly in AI in next three years Frustrated with automated answering machines before you finally get to speak with a customer service representative? When it comes to insurance, you’ll just as likely end up dealing with a robot as a human within three years, according to a survey by Accenture Plc. About two-thirds of insurers already use artificial intelligence-based “virtual assistants,” the consulting firm said in the report, which was published on Wednesday. Of the executives who took part in the survey, 85 percent said they plan to invest “significantly” in AI in the next three years.