Artificial Intelligence - July 2 2019
As the global insurance industry continues to experience disruption and digital transformation, it is imperative that commercial insurance brokers and carriers select the right technologies that can best meet their needs now and in the future. Digital transformation can mean different things to different organizations, and the technologies to support digital transformation can have different applications and use cases. Choosing the right technology that fits seamlessly into existing infrastructure and meets the needs of the business is essential.
Two technologies that are often compared with each other are Artificial Intelligence (AI) and Optical Character Recognition, commonly known as OCR. Use cases for both solutions exist in today’s commercial insurance market, however, it’s important to understand their relative capabilities and shortcomings.