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New IBM study: Insurance leaders agree that rapid adoption of generative AI is necessary to compete, but insurance customers express reservations

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C-suite executives see generative AI as both a risk and an opportunity

ARMONK, N.Y., Oct. 16, 2024 /PRNewswire/ — New research by IBM’s (NYSE: IBM) Institute for Business Value identifies a disconnect between how insurers and their customers prioritize the use of generative AI, with industry executives focusing on experience while their clients are seeking personalized risk products and insights.

Findings from a survey of 1,000 insurance c-suite executives in 23 countries and 4,700 insurance customers in nine countries are outlined in Generative AI in the Insurance Industry: You Can’t Win if You Don’t Play.

“The insurance industry has made headway in generative AI with customer experience and chatbot enhancements, but insurers must focus on adopting comprehensive governance frameworks that ensure transparency, privacy, and explainability to ensure they are building trusted AI assistants and reliable processes,” said Mark McLaughlin, Director of Global Insurance with IBM Technology. “There are also significant opportunities in connecting customers to the right products. Leveraging AI across the enterprise will be critical to improve both customer risk experiences and to implement the underlying IT tools that power those experiences.”

Key Takeaways 

Insurance CEOs surveyed were almost evenly divided on whether they see generative as more of a risk (49%) versus an opportunity (51%)77% of industry leaders who responded acknowledge that generative AI is necessary to keep pace with competitorsInvestments in gen AI are expected to surge by over 300% from 2023 to 2025 as organizations move from pilots in one or two areas to implementations in multiple functions across business linesOnly 29% of insurance customers queried said they are comfortable with gen AI virtual agents providing service, with only 26% saying they trust in the reliability and accuracy of advice given by generative AIOrganizations choosing less-centralized operating models to develop gen AI capabilities can improve business outcomes by up to 14%

Recommendations

Build more tailored products with flexibility, advice, and linkage to risk dataMatch those products intelligently to customers’ needsAddress trust issues with strongly ethical, governed AIAlso use AI to connect the underlying risk data and address long-standing insurer and financial service provider technical debtDeploy – and govern – AI across the enterprise with local knowledge experts empowered to connect AI to the insurance value chain

Download the full report here: www.ibm.com/thought-leadership/institute-business-value/en-us/report/insurance-generative-ai

IBM is a leading provider of enterprise AI, hybrid cloud architecture, security and ESG insights to the global financial services sector. Its deep industry expertise, extensive portfolio of services and solutions, and its robust ecosystem of fintech partners, empower collaboration, innovation, and creation with clients. As a trusted partner to banks, insurers, capital markets and payments providers, IBM guides financial institutions on all stages of their digital transformation journeys through IBM Consulting and delivers the proven infrastructure, software, and services they need through IBM Technology. For more information, visit https://www.ibm.com/industries/insurance.

Methodology

The IBM Institute for Business Value (IBM IBV), in cooperation with Oxford Economics, surveyed 1,000 C-level insurance executives in 23 countries in Q3 2024. 60% of the sample represented pure insurers, 35% bancassurers, and 5% insurance captives of non-financial services and insurance industry organizations selling to the wider insurance market. Participants were asked a range of questions in various formats (multiple choice numerical and Likert scale) about their organization’s expectations, results, concerns, and barriers for the use of generative AI in various parts of the organization, as well as relevant technological and business KPIs that allowed a quantitative assessment of the efficacy of these uses.

In the same timeframe, the IBM IBV also surveyed 4,700 insurance customers in nine countries, with a minimum of 900 respondents in each country: Australia, Canada, China, France, Germany, Hong Kong, Japan, UK, and US. Customers were asked a mirror of some of the questions the above executives received on gen AI benefits and concerns, allowing IBM IBV to gauge agreements and gaps in executive and customer perceptions.

The IBM Institute for Business Value, IBM’s thought leadership think tank, combines global research and performance data with expertise from industry thinkers and leading academics to deliver insights that make business leaders smarter. For more world-class thought leadership, visit www.ibm.com/ibv.

About IBM

IBM is a leading provider of global hybrid cloud and AI, and consulting expertise. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Thousands of government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and consulting deliver open and flexible options to our clients. All of this is backed by IBM’s long-standing commitment to trust, transparency, responsibility, inclusivity and service.  Visit www.ibm.com for more information.

Media Contact

Mary Ellen Higgins
IBM Global Financial Services Industry External Communications
maryellen.higgins@ibm.com
m +1.781.789.1911

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Study Reveals Student Chemistry Scores Increased by 12.7% Using 3-D Game-Based Learning

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Independent researchers from North Carolina State University determined Plasma Games’ platform significantly increased students’ learning, motivation, and confidence for all genders, races, and socioeconomic statuses.

RALEIGH, N.C., Oct. 17, 2024 /PRNewswire/ — A recent scientifically-based experimental study, conducted by Dr. Leonard Annetta at East Carolina University, found that students using Plasma Games’ Sci-Ops: Global Defense video game increased their chemistry scores by 12.7% versus the control group, while increasing their desire to pursue a chemistry-related major in secondary school by 12.9%.

A team of researchers at North Carolina State, led by Dr. Teomara Rutherford, Associate Professor, recently found in a study that the experimental group of students increased their correct answers to end-of-course (EOC) questions by 19% after 20-30 minutes of gameplay.

Additionally, the North Carolina Department of Commerce found that 61% of educators surveyed agreed that implementing the program into the curriculum was easy. Fifty-two percent (52%) of educators recommend that all schools utilize Sci-Ops: Global Defense as part of their curriculum. Sixty-three percent (63%) agreed that the platform was a helpful and appropriate supplement for their classes. The NCDOC has recommended continuing to fund the program in all school districts in the state partially based upon these survey results.

Plasma Games, a National Science Foundation award-winning education technology company, helps students master North Carolina standards-aligned science curriculum while increasing their desire to pursue STEM fields in the state. Plasma Games is being used in 75 of North Carolina’s 115 school districts, offering over 800 teachers and over 27,000 students access to the Sci-Ops: Global Defense science program.

Hunter Moore, Plasma Games Founder and CEO, explains: “Unlike other educational video games, Sci-Ops: Global Defense achieves the level of gameplay students are accustomed to. Sci-Ops fuses science standards with real technology applications and North Carolina STEM career paths inside an entertainment-quality 3D video game. Plasma Games helps educators inspire and equip students to pursue STEM/CTE careers. “

Katherine Gasper, an educator from Wake County Schools, further explains, “I have been using Plasma Games since 2019. No matter how many times I listen to their training, I’m always finding out about new features they’ve added. As a company, Plasma Games ‘sees’ teachers and responds to their needs and feedback to create a product that truly enhances students’ engagement in learning physical science while helping students see ‘themselves’ in potential STEM careers.” 

“Students today are very tech savvy and enjoy games, especially video games, that are competitive. Plasma Games allow students to interactively engage in games while learning important concepts in science. It gives them a chance to analyze data, make choices in choosing variables, and see the results of these choices to build on their knowledge,” says Laura Barnett an educator from Brunswick County School District.

The Sci-Ops: Global Defense program includes a 3-D video game, lesson plans, literacy supports, hands-on investigations, scenario-based practice, data analysis resources, unit review activities, and a robust assessment system that tracks student progress and provides feedback.

About Plasma Games

Plasma Games, a Raleigh-based education technology company, equips students with standards-aligned tools to inspire and equip students for STEM careers using cutting-edge video games. Plasma Games has garnered many industry awards, nationally and internationally, including the “Best Educational Technology Company of 2021” by the North Carolina Technology Association and “Best Learning Game in the World” by the Games and Learning Alliance. Plasma Games connects North Carolina science standards to real-world technologies and STEM/CTE careers, improving student outcomes and introducing students to life-changing career pathways. Plasma Games believes in meeting students where they are with its innovative, fun, and educationally effective gameplay with a first-of-its-kind proven 3D video game platform. Explore how Plasma Games motivates students to learn about science at play.plasma.games.

MEDIA CONTACT
Melanie Fortier
Senior Director of Marketing
Plasma Games
melanie@plasma.games 

View original content to download multimedia:https://www.prnewswire.com/news-releases/study-reveals-student-chemistry-scores-increased-by-12-7-using-3-d-game-based-learning-302278394.html

SOURCE Plasma Games

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Procolored’s New Loyalty Program Offers Business-Friendly

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Procolored launches a business-focused loyalty program offering consumable discounts, priority support, and exclusive rewards for professional printers.

LONG BEACH, Calif., Oct. 17, 2024 /PRNewswire-PRWeb/ — Rewards for Professional Printers

Procolored’s loyalty program is designed to offer professional printers not only discounts but also personalized rewards and early access to cutting-edge technology, ensuring long-term savings and operational efficiency.

Procolored, a leader in innovative printing technology, has launched a new loyalty program aimed at providing significant benefits to its professional customers. Recognizing the unique needs of businesses in the printing industry, Procolored’s new membership system offers tailored rewards that cater to bulk orders, efficiency, and long-term savings for frequent buyers.

A Loyalty Program Designed for Professionals

The new loyalty program is structured to give businesses more value for their investments. Whether you’re a professional printing company, a small business owner, or a creative agency that frequently uses Procolored products, the loyalty program provides benefits that go beyond simple discounts.

Key Business-Friendly Features:

Consumable Discounts:

Each month, Procolored selects specific consumables, and loyalty members enjoy a 10% discount on these products. This feature allows businesses to save on essential materials like inks, transfer films, and other printing supplies, ensuring they always have access to the resources they need at a reduced cost.

Priority Customer Support:

Professional users often require quick and efficient customer service to keep their operations running smoothly. Members of Procolored’s loyalty program enjoy priority access to the customer support team, ensuring their queries and issues are resolved faster, which minimizes downtime.

Early Access to New Products:

As a loyalty member, businesses will be the first to know about and purchase Procolored’s latest innovations. Early access to cutting-edge UV printing technology can give businesses a competitive edge in the market, allowing them to stay ahead of trends and provide the latest solutions to their customers.

Exclusive Business Rewards:

In addition to points earned from purchases, businesses can take advantage of exclusive rewards that are tailored to their operational needs. Whether it’s additional accessories, extended warranties, or special services, these rewards provide added value to Procolored’s loyal customers.

Personalized Offers:

Businesses are not only rewarded for their purchases but also receive personalized offers based on their unique needs and purchasing history. Procolored ensures that every member’s experience is tailored to maximize their benefits and meet their professional requirements.

Helping Businesses Save More

The loyalty program is not just about rewards—it’s about long-term savings for businesses. The more members purchase, the more points they accumulate, which can be redeemed for discounts on future orders. This allows professional users to significantly reduce costs over time, especially for repeat purchases.

The system is designed to be easy to use, ensuring that businesses can quickly sign up and start enjoying the benefits. With tiered membership levels, the program rewards frequent buyers by offering increasingly better perks as their purchases grow.

Leading in DTF Printing Technology

Procolored is known for its advanced DTF printing technology, providing high-resolution printing solutions for a range of applications. Their innovative approach includes precision control, fast-curing inks, and highly durable results, making their products essential for businesses in need of high-quality printing. With its focus on cutting-edge technology, Procolored continues to push the boundaries of what’s possible in the printing industry, offering versatile and reliable solutions for professional users.

About Procolored

Founded in 2018, Procolored is a global leading manufaturer of lightweight inkjet printers, dedicated to developingoowerful and user-friendly DTE, UV DTF, UV and DTG printers suitable for various materials, including fabrics, acrylic, anoglass. To date, Procolored products are sold in more than 31 countries and regions, empowering over 30.000 homebased entrepreneurs to launch and expand their digital printing businesses.

For more information on the new loyalty program and to register, visit Procolored Loyalty Program.

Media Contact

David, Procolored Inc., 1 949-738-4529, marketing@procolored.com, https://www.procolored.com/ 

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HumanX Selects Section to Host AI Executive Leadership Workshop at the Inaugural HumanX Conference in March 2025

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The HumanX and Section partnership will arm C-level leaders with the frameworks needed to define and refine their AI strategies

NEW YORK, Oct. 17, 2024 /PRNewswire-PRWeb/ — HumanX, the #1 gathering for AI leaders, is excited to announce a new partnership with Section, the leading online school for professionals in the AI era, to present the AI Executive Leadership Workshop.

“By partnering with HumanX, we’re able to offer an exclusive workshop tailored to the needs of business leaders, providing them with the real-time knowledge they need to lead AI conversations inside of their organizations.”

Scheduled for March 9, 2025, at the Fontainebleau Las Vegas, this program is designed to equip senior executives with the tools necessary to gain actionable insights ahead of the HumanX conference.

“We are thrilled to partner with Section to bring this exceptional learning opportunity to our attendees,” said Stefan Weitz, CEO of HumanX. “The AI Executive Leadership Workshop reflects our commitment to delivering actionable insights and meaningful engagement for our participants. This workshop will empower leaders with the knowledge and skills to make strategic AI decisions that can drive real impact within their organizations.”

The AI Executive Leadership Workshop will feature a carefully curated agenda that includes sessions on using AI as a strategic thought partner, building with enterprise AI, leveraging AI agents for business efficiency, and deploying AI technologies effectively across organizations. Each session is designed to provide participants with practical takeaways they can immediately apply in their roles.

“At Section, our mission is to help leaders harness the power of AI to create tangible business outcomes,” said Greg Shove, CEO of Section. “By partnering with HumanX, we’re able to offer an exclusive workshop tailored to the needs of business leaders, providing them with the real-time knowledge they need to lead AI conversations inside of their organizations.”

Registration Details:

Add the AI Executive Leadership Workshop to your HumanX experience when purchasing your HumanX pass. For more details, visit humanx.co/section-certificate.

About HumanX

HumanX is an innovative AI conference dedicated to delivering actionable insights and connecting high-level executives with the latest advancements in AI technology. Founded by Jon Weiner and Stefan Weitz, industry veterans committed to reinventing the AI conference experience, HumanX focuses on practical applications and strategic networking opportunities, distinguishing itself from traditional, broad-spectrum conferences.

About Section

Section is the online business school for the age of AI, founded in 2019 by Scott Galloway. Section’s courses are offered in a fast, live, cohort-based format focused on helping professionals augment their day-to-day work with AI. Section has taught 44,000 professionals across 95 countries and partners with 200+ enterprise clients to train their future leaders. The AI Executive Leadership Workshop is a crash course on Section’s most popular and actionable AI courses that have already upskilled more than 15,000 leaders worldwide.

Media Contact

Kaitlin Mansour, HumanX, 1 8103975267, kaitlin@humanx.co

View original content:https://www.prweb.com/releases/humanx-selects-section-to-host-ai-executive-leadership-workshop-at-the-inaugural-humanx-conference-in-march-2025-302279394.html

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