October 27, 2023
Generative AI offers a promising path for insurers to extract incremental value out of their technology investments and accelerate their modernization journey. The ability to implement generative artificial intelligence (AI) capabilities that can be tested with minimal investment and disruption to live claims, offers a good place to start. It will be critical for insurers to explore the potential benefits of generative AI and find sustainable ways to incrementally integrate them across the organization.
ChatGPT 3.5 launched a year ago, and I (Benedict Evans) think we’re all still working out what the questions are. The AGI argument happens in one corner (now mostly ignored by everyone else) and the semiconductor, model size and running cost conversations in others, but I’m most interested in product. How is this useful? What do you do with a technology that promises it can do anything?
Fiscal prudence, sustainable differentiation, high quality governance, resilience are all phrases finding favor amongst Fintechs. Valuations are mean-reverting and flow of funding reflects the change in regime. In this context, BCG, as the thought leadership partner of the Global Fintech Fest 2023, has launched the flagship report – The Second Wave | Resilient, Inclusive, Exponential Fintechs.