The topic of AI is virtually impossible to avoid in today’s business climate. However, while it may seem like all organizations have started using various AI technologies, about 75% of companies are still in the exploratory or proof of concept stage, and just 4% of companies say they are creating substantial value from their AI investments.
Within insurance, AI use is accelerating. Seventy-seven percent of insurers share they are at least in the early stage of incorporating AI into their value chain. This is 16 points higher than two years ago, according to a recent survey. No matter where you are on your AI journey, successful implementation is dependent on internal adoption among your team members.
Even if it seems like everyone else has started using a new tool, understanding the “why” for your particular organization is essential. Prior to moving forward, it’s important to have a clear vision that includes success metrics and how your team will benefit.
In our most recent issue of Compass, "The Human Element of AI Transformation," Corey Pinkham, president, explores best practices for taking a human-focused approach to leading through technology-driven changes. He recommends reflecting on the following questions and ensuring you’re able to communicate the answers in a way that resonates with team members:
What are you aiming to achieve?
How will you ensure your team is set up for success through implementation and beyond?
As you create more capacity and bandwidth through this automation, how will you reallocate your resources?
What are your success metrics?
There's no doubt the industry will continue to adopt new tools and technologies to streamline workflows and provide better customer experiences. It’s important to consider how these new tools will augment your workforce and enable you to leverage the strengths of both humans and machines. By starting with these fundamental questions, knowing your “why,” and providing frequent and consistent communication to team members, you'll be better positioned to achieve value from your AI investments.
View the full article for additional insights on driving successful AI adoption by taking a human-centric approach.