Factors Influencing the Readiness for Artificial Intelligence Adoption in Indian Insurance Organizations

Artificial intelligence (AI) technology is being adopted across industries. Adoption is a three-phase process- pre-adoption, adoption, and post-adoption. In this study, a systematic literature review is conducted to extract factors that influence the pre-adoption phase or readiness of the organization for adopting AI. These factors are narrowed down to 20 based on the discussion with the domain experts. These factors are mapped to Technology-Organization-Environment-Individual (T-O-E-I) framework that is derived from the technology-organization-environment (T-O-E) and human-organization-technology fit (H-O-T fit) frameworks. The experts ranked these factors independently. These rankings are used to calculate the global ranking of the factors using the Rough Stepwise Weight Assessment Ratio Analysis Method (R-SWARA), a multi-criteria decision-making (MCDM) method. The top seven factors are the following - perceived benefits of AI, AI system capabilities, data ecosystem in the organization, perceived compatibility of AI systems, perceived ease-of-use of the AI systems, IT infrastructure of the firm, and support from the top management. Sensitivity analysis shows that the ranks are robust.