Risks & rewards: navigating the AI landscape
Authored by QBE Senior Risk Manager Jaini Gudhka
The recent rapid acceleration of Generative Artificial Intelligence (GenAI) has democratised AI for all of us. Heralded as the next Industrial Revolution, it will disrupt and transform how we do business, and what business we do. In the first of a two-part blog, we take a closer look at the benefits and risks that come with embracing new technologies.
AI is the buzzword of the moment. Reports on the rise of new technologies and the ways in which AI will revolutionise virus research, dominate the employment landscape, or be weaponized for deep fakes have filled the headlines in recent months.
The reality is, of course, more complex. AI has been with us in some form or another for decades. It is the recent advent of GenAI in the public sphere that has signalled a paradigm change.
As a result, businesses are grasping new opportunities that AI offers while simultaneously grappling to understand and manage the full risk landscape that it operates within.
A misnomer: AI is not ‘intelligent’
To make effective decisions regarding the introduction of AI into your business, it is essential to understand what it is. It is not intelligent, as you and I understand that word.
AI is an umbrella term that describes a variety of machine-learning technologies, including Deep Learning, Neuro Linguistic Programming, and Computer Vision (the processing and analysis of images rather than words).
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