The rapid growth of artificial intelligence has governments, regulators and businesses working to assess the risks it may pose.
However, Philippe Cotelle says that while the risks need to be recognised it cannot be at the expense of ignoring the potential opportunities it will deliver.
As chair of FERMA’s digital committee and head of insurance risk management at Airbus Defence & Space Cotelle is ideally placed to consider the impact of AI in businesses of all shapes and sizes.
“Society is in a constant state of change,” he explains. “Artificial intelligence is another development which is driving this change. It is a rapidly evolving risk and as risk managers it is therefore imperative that we understand and manage this risk.”
He stresses while every technological breakthrough brings risks, they also bring opportunities.
“AI has the potential to improve business operations,” Cotelle explains. “As such we have to ensure that we can identify the opportunities that this new technology can bring, while mitigating the potential exposures it creates.
“The technology is new, but organisations have had to implement many new systems in the past and we have…
