Insuranceciooutlook

Mainstreaming AI by Nullifying its Adversities

By Insurance CIO Outlook | Thursday, June 06, 2019

FREMONT, CA: Artificial Intelligence has made its presence in many industries through various applications. In spite of the wide-ranging uses of this ambitious technology in specific fields, mainstream adoption has seen some obstacles. There are many challenges which can be the reason for its limited usage. These challenges might slow down the adoption of AI, but there are ways to address these and prepare businesses to unleash the full potential of AI.

Convincing the stakeholders about the benefits of AI and gaining organization-wide acceptance about implementing it requires a lot of persuading. Organizational attitude to resist any change to the original structure can prove to be a huge barrier. Here, it must be understood, that these responses are natural, and management must look to increase awareness and make everyone comfortable with the idea and advantages of AI.

Before undertaking any significant changes, companies always require a roadmap that talks about the objectives and challenges. Coming up with such can confuse and mislead companies. To prevent this, organizations must make sure that the new AI initiatives are in line with their goals, and a smooth transition is possible. A strategy paralysis can be a significant deterrent in the adoption of AI. To avoid any strategy paralysis, companies must approach the task of transforming with a clear set of priorities.

AI needs technically qualified personnel to head the migration to AI-based technologies and prevent it from being cumbersome and complicated. The lack of the right kind of talent has proved as a hurdle. The AI talent pool is limited, and the existing experts are already engaged. This limitation should ease with time as people take up studies in the field of AI, and more professionals are ready for the sector.

In the end, companies are refurbishing their legacy systems and processes with AI-based technologies. Planning a sophisticated tech-driven approach, which addresses challenges and meets challenges, the industrial world can go a long way in making AI acceptable for general use.

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