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In April 2024, ICMIF sent a survey to members with the intention of better understanding how and where mutual/cooperative insurers worldwide were implementing artificial intelligence (AI) technologies.
The key findings from this survey have now been shared in a new member-only publication ICMIF Members AI Report 2024, which highlights the innovative ways our members are leveraging AI to enhance their operations and services: highlighting some common challenges (and solutions) to effective AI adoption; and showcasing a range of practical AI applications across different functional areas.
Key findings:
- AI adoption: 64% of ICMIF members surveyed are leveraging AI, with the most common form being machine learning.
- Generative AI: More than 70% of members surveyed were currently investigating and/or intending to adopt some form of GenAI technology (eg GPTs or LLMs) in the next 18 months.
- Primary goals: The main aim for organisations using AI was…
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