Artificial Intelligence (AI) refers to the ability of a computer program to think and learn like a human and its snowballing impact on society is undeniable. AI applications already pervade many industries, bringing potential benefits that have been predicted to double annual economic growth rate in a number of developed economies in future. However, the introduction of such innovative technology also brings new challenges. This paper identifies some of the emerging risk issues around the growing implementation of AI and examines possible future implications of so-called “strong” AI, outlining potential benefits and areas of concern. It also considers the transformative impact of AI on the insurance industry.

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