AI Articles and Analysis in Finance

As AI continues to reshape industries, calculating the ROI for AI initiatives remains a complex challenge. According to a study by MIT Sloan Management Review, only 10% of organizations report significant financial benefits from their AI investments despite the widespread adoption of AI tools and platforms.

This interview analysis is sponsored by CLARA Analytics and was written, edited, and published in alignment with our Emerj sponsored content guidelines. Learn more about our thought leadership and content creation services on our Emerj Media Services page.

GEICO (Government Employees Insurance Company) is one of the largest auto insurance providers in the United States. Founded in 1936, it has grown to become a significant player in the insurance industry under the ownership of Berkshire Hathaway.

Like much of the financial services space broadly, the insurance industry is growing interested in adopting AI. The technology holds immense potential to revolutionize insurance, enhancing efficiency and accuracy across various processes such as claims and underwriting. However, concerns surrounding data privacy and integration complexities have prompted a measured approach among industry leaders.

Dozens of GPT-driven products are already on the market, and hundreds more are in development. These tools collectively aim to revolutionize traditional roles and processes, transforming them into dynamic, parallelized workflows using variants of LLM models, such as AutoGPT. Tools like GitHub Copilot, powered by OpenAI's Codex, are demonstrating significant improvements in developer productivity, with some studies showing up to a 55% increase in task completion speed. 

Nationwide Mutual Insurance Company, commonly known as Nationwide, is a primary US insurance and financial services company headquartered in Columbus, Ohio.

Technological advancements have contributed to an increase in more efficient and sustainable transportation solutions. Predictions made decades related to autonomous vehicles were wildly optimistic. The automated transportation industry might not align with those early predictions, but there have still been noteworthy developments. 

Contact centers play a crucial role in delivering exceptional customer experiences (CX) across industries, both B2c and B2b. As customer expectations elevate, organizations increasingly leverage AI to streamline operations and enhance customer service. According to recent reporting in the MIT Technology Review, enterprises generally deploy AI to transform contact centers, usually taking the form of intelligent virtual assistants to obtain predictive customer insights as well as for dispute and fraud management.