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Maximizing the Potential of AI: Who Will Reap the Greatest Rewards?

 
 
 
 

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The California Gold Rush, was a very famous time in history. The news of gold brought approximately 300,000 people to California to search for gold.

 

But as we all know now, the ones who benefited the most from the Gold Rush, were the people who realized that the real money to be made was in supplying tools , equipment, food and other supplies to the miners. Ironically, most of the miners in the Gold Rush returned home broke.

 

So we are now in the AI Gold Rush, every company will be using AI to generate greater revenues and profits. So you might naturally look at companies, like Microsoft or Google to be the real winners of this new technology.

 

But that is not the right perspective, looks for the companies who provided "services to the miners" they will be the real winners. This companies will be were able to charge the same prices for their goods and services, but with which increased their profits.

 

A good example of that is Insurance companies that can benefit from AI in several ways:

 

Risk Assessment

 

AI can help insurers analyze large amounts of data and assess risk with greater accuracy. This can help them make better underwriting decisions, identify fraud, and price policies more accurately.

 

Customer Service

 

AI can help insurers provide better customer service by automating routine tasks and handling customer inquiries more efficiently. Chatbots and virtual assistants can provide customers with immediate assistance, 24/7.

 

Claims Management

 

AI can help insurers manage claims more efficiently by automating the claims process, reducing errors, and identifying fraudulent claims. This can help insurers save time and money while providing a better experience for their customers.

 

Product Development

 

AI can help insurers develop new products and services that meet the evolving needs of customers. By analyzing customer data and market trends, insurers can identify new opportunities and tailor their offerings to meet customer demand.

 

Risk Mitigation

 

AI can help insurers identify and mitigate risks before they occur. For example, by analyzing data from sensors and other IoT devices, insurers can detect potential risks and provide customers with proactive advice to prevent losses.

 

Overall, AI can help insurers improve their efficiency, accuracy, and customer experience, while reducing costs and increasing profitability. So, Nvidia or Microsoft are maybe the miners of AI, but others will benefited more from there mining.

 

Here is a list of a few "services to the miners" to considered:

 
  • State Farm
    Progressive Insurance
    Allstate Insurance
    Liberty Mutual
    Travelers
    USAA
    Chubb
    Farmers Insurance
    Nationwide
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    Please note that the article should not be considered as investment advice or marketing, and it does not take into account the personal data and requirements of any individual. It is not a substitute for the reader's own judgment, and it should not be considered as advice or recommendation for buying or selling any securities or financial products.

     
     
     
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    Disclaimer: The Score performance whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. The results reflect performance of a strategy not historically offered to investors and does not represent returns that any investor actually attained. The results reflect performance of a strategy not historically offered to investors and does not represent returns that any investor actually attained. The Readiness Indicators, Sentiment Indicators and total score are calculated by the retroactive application of a model constructed on the basis of historical data and based on assumptions integral to the model which may or may not be testable and are subject to losses. Active trading is generally not appropriate for someone of limited resources, limited invesment or trading experience, or low-risk tolerance. Your capital may be at risk.

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    Home

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    Disclaimer: The Score performance whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. The results reflect performance of a strategy not historically offered to investors and does not represent returns that any investor actually attained. The results reflect performance of a strategy not historically offered to investors and does not represent returns that any investor actually attained. The Readiness Indicators, Sentiment Indicators and total score are calculated by the retroactive application of a model constructed on the basis of historical data and based on assumptions integral to the model which may or may not be testable and are subject to losses. Active trading is generally not appropriate for someone of limited resources, limited invesment or trading experience, or low-risk tolerance. Your capital may be at risk.

    Please note that no offer or solicitation to buy or sell securities, securities derivatives of future products of any kind, or any type of trading or invesment advise, recommendation or strategy, is made, given or endorsed by StocksRunner including any of their affiliates ("TS").

    This information is provided for illustrative purposes only. You should not rely on any advice and/or information contained in this website and before making any investment decision. we recommend that you consider whether it is appropriate for your situation and seek appropriate financial, taxation and legal advice.