AI requires ‘careful stewardship’: ICA

Artificial intelligence can address some of the most pressing issues facing the insurance sector, but safeguards must be in place, according to the Insurance Council of Australia.

In a joint report with CSIRO that aims to provide an AI reference point for insurers, regulators, policymakers and consumers, ICA CEO Andrew Hall says the technology requires “careful, responsible stewardship”.

“We must take a consumer-centric, values-led approach to the development and deployment of AI, ensuring the benefits of innovation are delivered fairly, safely and transparently,” he said.

Read more: https://www.insurancenews.com.au/insurtech/ai-requires-careful-stewardship-ica