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HOME Knowledge Insight Blog Blog List [Featured on Digital Insurace]: A forecast of Gen AI in the Japanese insurance industry

[Featured on Digital Insurace]: A forecast of Gen AI in the Japanese insurance industry

May 30, 2024

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Gen AI is revolutionizing the insurance industry by enhancing efficiency and customer experiences. With global spending on Gen AI projected to reach $143 billion by 2027, leading Japanese insurers like Mitsui Sumitomo, Meiji Yasuda, Sumitomo Life, and Dai-ichi Life are integrating this technology to streamline operations and boost productivity. Despite being in its early stages, Japan's Gen AI adoption shows promise, requiring a long-term approach to address bias, privacy, and governance. The future holds significant innovations, driving growth and efficiency through human-AI collaboration.

Read the article here. 

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