Trending Insights

AI Models: Transformation With Smart Solutions

As the implementation of AI takes precedence across the financial services industry, AI models are beginning to drive efficiency and advancements. Whether built in-house, sourced from third-parties, or developed with a hybrid approach, these models provide tailored solutions, enhance business capabilities, and drive innovation.

INSIGHT

AI Models Drive Innovation and Efficiency

AI models are beginning to drive efficiency across the industry. Whether built in-house, sourced from third-parties, or developed with a hybrid approach, these models provide tailored solutions, enhance business capabilities, and boost innovation. The LIMRA and LOMA AI Governance Group (AIGG), consisting of over 70 member company executives, recently surveyed group members on several AI-focused topics.

When asked about AI models within their organizations, AIGG members stated:

When asked about leveraging off the shelf GenAI capabilities, customizing models, or developing their own, AIGG member companies:

IMPLICATION

Hybrid and Customized Approach is Key

While utilizing external resources for AI models and GenAI capabilities is the most time efficient process in getting AI off the ground, it’s imperative that models and capabilities fit the needs of a company and its workforce. Creating a hybrid approach to an AI model and customizing GenAI capabilities to fit company needs is a cost effective and efficient way to move forward in the "Age of AI."

Learn more about the Artificial Intelligence Governance Group. Find additional thought leadership on AI at www.LIMRA.com/AI.