Are insurers ready to scale Gen AI?

I am sharing my thoughts on a Deloitte article and a sample technology stack I created. The article is found here. It is compelling as we look at the landscape across companies and how to implement Gen AI. The survey was conducted by Deloitte in June 2024, in AI years that could be "4" years at the AI pace of innovation. 200 US insurance companies. A few interesting facts:

1. Key barriers were legacy systems

2. Weak data infrastructure

3. Siloed business-IT collaboration

These are key barriers for anyone reading this to consider. How to overcome these:

a. Implement smaller projects that are truly AI.

b. Do not confuse AI automation with workflow automation

c. Evaluate the 3R Framework presented in the article: Resource, responsibility, and return

Early wins are effective and may even be as simple as how did the team evaluate 3 products and be able to explain how the final product was chosen.

Tech Stack