Artificial intelligence, therefore, will be primarily geared toward solutions that manage better customer interactions and that improve the efficiency of production processes and the supply chain, leading to a potentially radical business renewal.
The United States will provide more than half of all artificial intelligence spending, concentrated in the Retail and Banking sectors, followed by Europe and China.
Artificial intelligence algorithms and machine learning are increasingly gaining traction also in the insurance industry. Those technologies are already used by 31% of companies, while another 24% are in a proof-of-concept phase. The development of the insurtech sector finds confirmation in the steady growth of investments worldwide, which have increased from $2.6 billion in 2018, to $6.8 billion in 2019, according to the Italian Insurtech Association. France is the country with the highest growth in investments compared to 2019, collecting a total of almost 830 million euros (+18.5%) distributed among 63 operations with an average value of 13 million (+20.6%); in Italy, on the other hand, investments in the sector were less than 200 million euros.
Development in our country has often slowed down due to difficulties in adapting to sector regulations, low investment and a lack of innovation culture.
At UnipolTech we are committed to being at the forefront of the telematics market, investing in new cutting-edge technological solutions to intercept the most promising trends, to offer increasingly comfortable, high-performing and convenient solutions to Unipol Group customers. A constant R&D commitment on solutions that include machine learning and artificial intelligence algorithms, data collection and optimization, and in full compliance with privacy regulations.