Why insurance companies are betting big on AI-powered chatbots


The appeal of artificial intelligence across many industries is impossible to deny. But it may come as a surprise to hear that the insurance industry — typically perceived by outsiders to be one of the more decidedly unsexy industries today — outspends 12 other major industries when it comes to investing in AI. According to the Global Trends Study 2017, insurance invests an average of $124 million per company in this alluring technology. That’s $54 million more than the average across all industries surveyed. Global insurance giant QBE, for one, invested earlier this year in a machine learning company called HyperScience — and that’s not even the first AI investment it’s made.


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