Most insurance IT decision-makers (69%) plan to invest from $500,000 to $5 million in AI this year.
That’s according to a new study, which shows many of those decision-makers have nearly doubled the AI spend in their budgets over the past year – the average projected investment this year per respondent was $2.5 million.
The 2024 Global AI Report from Rackspace shows companies believe the benefits of AI are in areas of innovation (49%), sales (48%) and risk management (47%). Organizations are also struggling with two key areas: security and talent gap. Respondents believe that