Meta recently unveiled a chatbot that draws on the vast stores of knowledge on the internet. The results, well... they haven't been quite what Meta hoped.
Natural language processing can transform a burdensome process, freeing claims professionals to apply their expertise where it makes the biggest difference.
In painting a rosy and likely unrealistic picture of what AI can and can't do, Musk has, in our view, misled the public about how far we still have to go.
An increase in digitization, the rise of AI and better value-tracking methodologies have paved the way for more advanced technology like "intelligent decision-making."
If the proper guardrails and governance are not put into place early, insurers could face legal, regulatory, reputational, operational and strategic consequences down the road.