The rise of AI

From virtual assistants to driverless cars, technology imitating human intelligence is on the rise. But at what ethical cost and how do boards future-proof their organisations in the face of rapid change? Earlier this year, a Japanese insurance company made headlines for doing something that company executives and directors around the world have been anticipating - and fearing - for years. Fukoku Mutual Life Insurance made 34 of its staff redundant and replaced them with artificial intelligence (AI) system IBM Watson. Japanese newspaper The Mainichi reported the company will be using Watson to determine payout amounts and check customer cases against their insurance contracts. Other Japanese insurance companies have announced they are looking at or are already using AI for similar purposes and The Japan Times reported in April that the country's Ministry of Economy, Trade and Industry was planning to trial AI to help government workers write draft answers for questions put to Cabinet ministers.