Discover MAPFRE's four scenarios on generative AI's impact on society. | InsurBrief

“`html

How Will Generative AI Impact the Society of Tomorrow?

TLDR:

MAPFRE examines four scenarios for the impact of Generative AI on society by 2029
The insurance industry must adapt to new risks and needs that arise

Generative Artificial Intelligence (Generative AI) is transforming society at a rapid pace. MAPFRE, a leading insurance company, has analyzed the potential impact of Generative AI on society and proposed four scenarios for 2029. These scenarios range from widespread adoption with psychological impacts to limited usage with high costs. The insurance industry must adapt to new risks and needs, such as cyber protection, responsible AI use, and health concerns.

MAPFRE suggests action plans for the insurance industry, including addressing cyber threats, promoting responsible AI use, enhancing health services, developing new customer relationships, and combating fraud. Education in Generative AI and related fields is also emphasized. Overall, it is essential for insurers to contribute to the responsible and appropriate use of Generative AI to reduce risks and protect individuals and companies.

“`

Post Views: 58

PriyaPatel

Latest from Blog

Your Daily InsurTech Briefing – 2024-05-08

Let’s see what’s in the news today. Insurance group calls for Amazon and others to use more safety tech in delivery vans (CNN) — Researchers are pointing to a dangerous element of

Insurance group urges Amazon, FedEx to boost safety tech in vans

TLDR: Insurance group urges Amazon, FedEx, and other delivery companies to adopt more safety technology in their vans. Technologies like automatic emergency braking and blind-spot detection can help prevent accidents. Key Elements

Insurance group urges Amazon, FedEx to boost tech in delivery vans

Insurance group calls for Amazon, FedEx and others to use more safety tech in delivery vans | CNN Business TLDR: Researchers are calling for increased safety technology in delivery vans used by

Urban Jungle secures $14.4m investment for insurance startup launch.

TLDR: Urban Jungle, a London-based insurance startup, is set to announce a $14.4m funding round. The investment comes from existing backers including Sony Innovation Fund and will fuel the company’s expansion. Key

Your Daily InsurTech Briefing – 2024-05-06

Let’s see what’s in the news today. FCA to explore big tech opportunities for insurance industry ‘Big tech’s growing emergence in financial services has already made life easier for consumers,’ says chief

TechTalk: Climate-focused insurtechs help insurers with environmental challenges.

“`html TLDR: Climate change poses challenges for insurers due to unpredictable risks Insurtechs are developing new technologies to help insurers manage climate-related risks The article discusses the impact of climate change on

Ariel Re teams up with Hiscox and Swiss Re for Gen AI cyber assistant.

Key Elements of Recent Insurtech News TLDR: Key Points: Ariel Re and Hiscox launch CyberShock consortium offering cyber catastrophe protection Swiss Re introduces Gen AI underwriting assistant for risk assessment Full Article:

Ensure AI ethics in Insurtech – best practices to follow.

TLDR: AI technology is becoming more prominent in the insurance industry, including generative AI. Insurance providers must navigate regulatory environments and ethical considerations when using AI. The article discusses the rise of

Owl.co: Revolutionizing The Insurance Game

Summary of Owl.co: Taking The Insurance Industry By Storm TLDR: – Owl.co is an insurtech company revolutionizing the insurance industry with its innovative approach to claims management. – With the application of

FCA to dive into tech opportunities for insurance industry.

FCA to Explore Big Tech Opportunities for Insurance Industry TLDR: FCA chief executive plans to explore big tech firms’ datasets for opportunities in financial services and insurance sectors. Analysis will focus on