A good positioning piece by Aon on the prerequisites for AI.
I 100% agree that Talent and Infrastructure are critical success factors for an AI deployment. However, while Big data always makes AI more accurate, you can start small and still have some quite staggering results. The only thing I can guarantee is that if you have good AI, it will be adaptive and self-learning. So, if you start small and simple and grow you can improve your time to value much earlier.
In the AI world, never try to boil the ocean. Trial. error and improvement is the best route to success.
Amid the vast changes brought upon the insurance industry by artificial intelligence (AI), an industry report has outlined three key ingredients needed for insurers to take advantage of the opportunities it presents. According to Aon’s Global Insurance Market Opportunities report titled “Demystifying Artificial Intelligence”, insurers are already good with AI and its precursor technologies. However, to harness the full potential of its effects, carriers must work on three crucial components: data, infrastructure, and talent.