Era of robots creates chances for huge profits and losses too

Evans Morris Gachiri, a fifth year Mechatronics Engineering student at Dedan Kimathi University of Technology, Kenya, demonstrates how a robotic coffee machine works: Artificial intelligence is no longer science fiction. London, March 22, 2018: Chatbots, autonomous vehicles, and connected machines in digital factories foreshadow what the future will look like: The widespread implementation of Artificial Intelligence (AI) applications brings many advantages for businesses such as increased efficiencies, fewer repetitive tasks and better customer experiences. Vulnerability to malicious cyber-attacks or technical failure will increase, as will the potential for larger-scale disruptions and extraordinary financial losses as societies and economies become increasingly interconnected. Companies will also face new liability scenarios as responsibility for decision-making shifts from human to machine and manufacturer. In the new report "The Rise of Artificial Intelligence: Future Outlook and Emerging Risks", insurer Allianz Global Corporate & Specialty (AGCS) identifies both the benefits and emerging risk concerns around the growing implementation of AI in society and industry, including in the insurance sector.