A lack of external partners with experience in both artificial intelligence (AI) and insurance is the major barrier to the adoption of the technology in the sector, according to a survey by professional services firm Genpact.

The study, AI 360: Hold, Fold or Double Down, is now in its third year and analyses the perceptions of senior executives, workers and consumers in Australia, the US, the UK and Japan.

Sectors included are insurance, banking, technology, life sciences, healthcare, consumer goods, retail and industrial manufacturing.

It finds that overall, insurers’ AI adoption is lower than average at 68%, compared to 83% across all industries surveyed, while 32% of respondents say legacy systems are limiting their ability to update.

Insurers believe the biggest increase in AI technologies and application will be through machine learning followed by chatbots and computer vision.

For those in the industry that are using AI, 53% are applying it in customer service, followed by 35% in IT services and 35% in research and development.

Senior executives in Australia, taken across all sectors, say AI’s top benefits are that it frees up time for employees to focus on more important tasks and that it improves customer experience and services.

The research finds more than 85% of Australians are willing to learn new skills to take advantage of the technology, but according to employees surveyed, 63% of organisations do not offer AI-related training.

Some 70% of Australians fear AI will discriminate against them. This is the highest level among countries surveyed. And 67% of Australians are concerned that AI will make decisions that affect them without their knowledge.