Living with the algorithm

In a world suddenly confronted by social distancing, dialogue becomes ever more important. Swiss Re Institute's Executive Dialogue Series (EDS) brings together Swiss Re executives and external experts in virtual dialogues with valued senior clients to discuss challenges across lines of business and operating environments. With a global audience, and operating in different time zones, the EDS will feature key topics that will help us navigate the post-COVID-19 world.

No one doubts the value of artificial intelligence. PwC quote a figure of USD 15.7 trillion by 2030, describing the technology as "the biggest commercial opportunity in today's fast changing economy."
 
This does not mean that AI is easy, particularly for incumbent companies – including many insurers – whose systems and workflows are not built around AI, and whose employees may correspondingly struggle to realise the value AI can bring to their working processes.
 
Swiss Re's Behavioural Research Unit have teamed up with Behavioural Economics in Action at Rotman (BEAR), Rotman Business School at the University of Toronto to bring a greater depth of behavioural understanding to insurance topics. Professor Avi Goldfarb, Rotman Chair In Artificial Intelligence And Healthcare, and Professor Dilip Soman, Canada Research Chair in Behavioural Science and Economics will both present at this edition of our Executive Dialogue Series. They will be joined by Jeff Bohn, Swiss Re's Chief Research Officer.
 
In our virtual dialogue session, we will consider how behavioural approaches can facilitate the adoption and efficient use of AI. Among the questions we will consider:

• Despite all the successes and the obvious benefits of machine intelligence, why have some Industries lagged behind in its adoption?
• What does Behavioral Science tell us about barriers to successful integration?
• How can companies overcome systems and data fragmentation by encouraging collaborative approaches beyond silos?
• What can be done to implement AI at enterprise scale while maintaining a coherent human approach?
• How can companies best integrate data and systems architects into their systems; and how can executives translate AI into their strategic goals and targets?

These are all significant challenges, but AI cannot be ignored. We will seek to identify the pain points of insurers in the behavioural space around AI and highlight potential solutions.