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Cost reductions, data explosion propel AI’s role in insurance: AM Best report

To maximize AI’s benefits, he stressed the importance of a robust IT infrastructure. “For companies to truly get real benefit from some of these emerging technologies, including AI or generative AI, they really need to have an efficient IT infrastructure, because if they don’t have systems that can talk together to each other or get the data from third parties efficiently, then it’s really hard to leverage some of these emerging solutions,” he said.

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