Analysis

Industry grapples with ‘scalability challenge’ around generative AI

By Trevor Hemsley 2024-08-06T07:00:00

generative AI

While many insurers and brokers are dipping their toes into the waters of generative artificial intelligence, the line between experimentation and successfully scaled use cases is blurred

Some market participants now question whether the excitement generated by the November 2022 launch of ChatGPT – and by the subsequent availability of other generative artificial intelligence (AI) models – has really been justified.

In particular, an article in the July 2024 edition of The Economist argued that the supposed AI revolution has, so far, had almost no economic impact.

However, most professionals involved with generative AI in the insurance sector are sure that it’s here to stay and that its impact will eventually be far reaching.

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