Increased investments in AI aimed at IT, customer experience

Insurance companies will spend on average $90 million on artificial intelligence technologies by 2020, according to research from Tata Consultancy Services. In its study, “Getting Smarter by the Sector: How 13 Global Industries Use Artificial Intelligence”, the IT consulting firm projects insurers will place fourth behind telecommunications ($131 million), high tech ($119 million), and banking ($99 million) in AI spending by the end of the decade.