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News From Press Global insurance industry leads investment in artificial intelligence

Global insurance industry leads investment in artificial intelligence

Source: Economic Times Sep 13, 2017

Among 13 global industry sectors, the insurance industry is leading expenditure in Artificial Intelligence (AI) systems with $124 million, a study by IT major Tata Consultancy Services (TCS) said on Tuesday.

According to the study which covered North America, Europe, Asia-Pacific and Latin America, the average expenditure on AI systems was $70 million across the sectors surveyed.

Next to insurance, consumer packaged goods reported the second most significant expenditure with $95 million.

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