March 20, 2024
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The article discusses the importance of understanding and managing the limitations and risks associated with the use of artificial intelligence in the insurance industry:
This should help mitigate risks – Sean McGarry, partner at law firm Miller Thomson – said that firms needed to be aware of a range of risks, such as the threat of AI potentially hallucinating or fabricating answers. For example, ChatGPT creators OpenAI were hit with a defamation lawsuit in June 2023, with a Georgia man claiming the chatbot generated a false legal summary about him. McGarry felt that firms using technology in the right way could catch out any mistakes made by AI.
