Revolutionary applied sciences could be transformational for companies, industries and our lifestyle, however additionally they symbolize dangers. Advances in new areas of tech, reminiscent of synthetic intelligence (AI), are creating unexpected threats that insurers should grapple with or danger new exposures. Nevertheless, three rising dangers rise above the remaining as points the insurance coverage business ought to monitor carefully.
Generative AI: A New Day Dawns … for Cyber Danger
Barely a day appears to go by and not using a story heralding a brand new milestone for Generative AI — the machine studying method that may create unique content material reminiscent of photographs, textual content, video and pc code, from easy textual content prompts.
In January 2023 alone, we discovered that Generative AI has been used to design properties, act as a protection lawyer, and imitate human voices. Market researchers see Generative AI apps, reminiscent of OpenAI’s standard ChatGPT, creating loads of income — probably $109 billion by 2030. However the identical artistic energy that has captivated our consideration has additionally raised potential issues.