Is the insurance industry ready for Artificial Intelligence losses?
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Have you ever used Waze for the best route? Opened your phone with faceID? Let Netflix to suggest the next show? Artificial Intelligence (AI) makes it all possible.- but it does more than just make life easier. AI can pore through thousands of medical journals in seconds to find the best treatment, help businesses attract customers, and identify hidden dangers in manufacturing.
A 2019 Gartner survey found that AI had grown 270% in just 4 years. But many businesses use AI without fully understanding the significant risks ‒ and could be opening themselves up to potential liability. Thereʼs likely a significant coverage gap too - one that will continue to widen as technology outpace changes to policy language for AI.