The adoption and use of artificial intelligence is challenging risk management experts as they try to remain in step with the pace of change while protecting their businesses and organizations from any emerging threats related to the technology.
From setting up systems to segregate proprietary data (see related story below) to developing company-wide use guidelines, organizations are taking a range of measures to manage exposures emerging from the adoption of AI.
Regulation is also seen as a major potential exposure as governments worldwide move to support and manage AI adoption (see related story below).
Brokers need to stay ahead of emerging risks, said John Farley, New York-based managing director of Arthur J. Gallagher & Co.’s cyber practice.
“This is happening so fast. The threats are emerging as we speak. The regulation is doing the same. The insurance industry is evolving … so risk management overall has to pay attention to that dynamic,” he said.
This may require marshaling an array of specialized knowledge, Mr. Farley said.
“Think about the attorneys that you’re going to need for compliance. Think about the potential need to engage data scientists to…
