Society is entering the age of artificial intelligence. Significant players in every industry are implementing narrow artificial intelligence (NAI) to improve their business processes. As a consequence, no element of the global insurance business model will be untouched. Most insurance product lines will need to be reengineered to reflect the new risks arising out of the adoption and deployment of NAI, according to Pete Thomas, President of GC Genesis, Guy Carpenter, and Samantha Busenhart, Vice President, Distribution and Thought Leadership, Guy Carpenter. Insurers looking to take advantage of the opportunities that will result from the adoption of NAI or looking to mitigate the unintended risks associated with NAI will have to do research or partner with experts.

Society is entering the age of artificial intelligence.