The insurance industry should both rejoice and beware the arrival of AI!
If you don't understand it and launch headlong into an AI deployment, using the wrong tools or a bad partner, you will be heading straight for the regulatory gallows!
In October, Pega is hosting the latest Pega Executive Forum with guest speaker Daniel Hulme, one of the world's leading speakers on AI addressing the forum.
In July this year, the new Financial Conduct Authority chairman Charles Randell rightly rattled a few brokers’ cages by raising the prospect of new regulations for insurers and other financial services firms using big data and artificial intelligence (AI). It should be no surprise that the insurance sector is ramping up the use of this technology, however they should also be ready to rethink the fundamentals of AI so that their customers are not left vulnerable to another scandal reminiscent to that of Cambridge Analytica.