Why artificial intelligence still needs a human touch - California News Times

This article is an on-site version of the #fintechFT newsletter. Using artificial intelligence to improve fraud detection is becoming one of the hottest trends in the insurance industry, but it is also one of the most controversial trends. US insurer Lemonade has become a case study of potential technology rewards and reputational risks. Lemonade has become one of the most successful large-scale IPOs in 2020, fulfilling its promise to speed up and simplify lessor insurance and home insurance with AI-powered apps. But earlier this year, it sparked a social media backlash in concerns about the behavior of the algorithm.