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ARTICLE · 07 AUGUST 2018

Artificial Intelligence Revolution And The Insurance Industry

Miller Thomson
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The information revolution has had an undeniable impact on society, as did the industrial revolution before it. Now artificial intelligence is poised to be the next revolution ...

CanadaTechnology
Sandra Hawes
Sandra Hawes
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The information revolution has had an undeniable impact on society, as did the industrial revolution before it. Now artificial intelligence is poised to be the next revolution that will have an immense impact on our society from our personal lives to the way in which we transact business.

Artificial intelligence, or AI, has been around since the mid-1950s, but most recently it has been developing at an extremely rapid pace. Since 2016, the demand for AI related products, both hardware and software, has exploded.

AI will undoubtedly continue to impact all business sectors, including the insurance business, which stands to incur a significant disruption. With the rapid pace at which it is developing, AI may soon be heavily used in all aspects of the insurance industry, including sales, customer service, underwriting, claims assessment and fraud detection and prevention.

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