PriyaPatel
TLDR:
- Generative AI is transforming society with high technological development.
- MAPFRE has proposed four scenarios on how Generative AI could impact society by 2029.
Generative Artificial Intelligence (Generative AI) is transforming society at a high rate of technological development. MAPFRE, a leading insurance company, has conducted an analysis to propose four scenarios in which Generative AI could impact society by 2029. The scenarios range from a transformational technology with permissive regulations to a mature technology with limited interaction and high costs, and to a scenario with restrictive regulations limiting technological development. The insurance industry needs to adapt to these scenarios by addressing new risks and protecting its customers.
New risks arise from the expansion of Generative AI, such as cyberattacks, responsible use of AI/Generative AI, health and mental health implications, new customer relationships, and fraud. The insurance industry must take action to protect against these risks and develop initiatives to create a positive impact on society. This includes offering cyber protection, promoting responsible use of AI, addressing health and mental health issues, developing new customer relationships, and implementing fraud prevention measures.
Ultimately, the awareness and education of society regarding the responsible and appropriate use of Generative AI is essential, and insurers must contribute to reducing the risks to individuals and companies. MAPFRE is taking steps to address these challenges and prepare for the impact of Generative AI on society.
