Artificial intelligence (AI) is prevalent in the insurance industry now, but many firms are not seeing the results they expected. The issue isn’t with the AI models; it’s pertinent to the data.

In the recent episode of the Don’t Panic It’s Just Data podcast, host Scott Taylor, The Data Whisperer and Principal Consultant at MetaMeta Consulting is joined by Mark Duffy, Senior Director, Artificial Intelligence & Analytics at Cognizant and Mark Blake, FSI Industry Practice Lead at Stibo Systems.

They data industry experts address a key misunderstanding about enterprise AI – that companies can innovate their way out of poor data quality. “Some people think AI is a quick fix for data governance,” said host Scott Taylor. “If I need better data, I just use AI.” Experts warn that this belief is what’s holding insurers back.