We're seeing life-changing advancements in various aspects of our professional and personal lives as AI becomes more integrated into our daily lives From using voice assistants like Alexa and Siri to unlocking our mobile phones using face recognition, we're using the technology more frequently than we think Technology has progressed to model and algorithm-based machine learning, with an emphasis on perception, reasoning, and generalisation. Artificial intelligence (AI) has benefited a variety of industries in recent years and will continue to do so in the future. AI has fuelled the development of numerous advancements, including the Internet of Things (IoT), robotics, analytics, and voice assistants! We're seeing life-changing advancements in various aspects of our professional and personal lives as AI becomes more integrated into our daily lives. From using voice assistants like Alexa and Siri to unlocking our mobile phones using face recognition, we're using the technology more frequently than we think. We see AI's capabilities every day, whether it's on social media when we see a personalised feed, running a Google search about the latest movie we watched and finding the best match for our search even before we finish typing, and much more.

Artificial Intelligence is the defining technology that has the power to boost a nation to new heights. This holds true even for the Australia-Pacific region too. In New Zealand, companies are now better positioned to roll out AI applications to boost the economy and bring higher revenues. Various research reports have pointed out that Kiwi organizations view AI to challenge the competitive landscape over the coming years. Compared to Australia, New Zealand displays a more favorable market for AI in the future.

To paraphrase George Orwell's quote from Animal Farm, "All technologies are equal, but some technologies are more equal than others." It used to be common to say that "technology is marching forward, improving business and society." But today, it would be more accurate to say that technology is sprinting forward – with progress at breakneck speed and breakthroughs happening in multiple fields on a regular basis. There are so many technologies – some new, some just emerging – that is it virtually impossible to track the progress of all of them, let alone explore all their implications. This may put insurers in an uncomfortable position.