On-demand webinar: Artificial Intelligence

AI is an umbrella term for technologies that simulate human intelligence. Although the phrase has existed for sixty years, recent breakthroughs in machine learning, the availability of large datasets and increases in computing power have caused exponential growth in the sector.

In an open letter published in April 2023, signatories including Steve Wozniak, Elon Musk and some of the world’s most eminent scientists described the development of AI technology as ‘an out-of-control race to develop and deploy ever more powerful digital minds that no one – not even their creators – can understand, predict, or reliably control’.

AI is perhaps the greatest source of systemic risk that insurers now face. It will act as a multiplier of existing exposures and a source of new liabilities, with the potential to cause or contribute to catastrophic and mass loss events.

In this Emerging Risk seminar we will consider the potential benefits of AI technology for the insurance market, and liability pathways arising from its use, such as:

• Compliance and legal liability risks
• Intellectual property infringement issues
• 'Input' vs 'Output' issues
• The transition risks of a rapidly changing regulatory landscape

As well as practical recommendations for insurance businesses and insureds to try to minimise these risks.

Click here to view the recording