Once we had silent cyber, now we have silent AI. Interestingly, AI is being categorized as a force multiplier for other enterprise-wide risks and associated losses across technology E&O, professional indemnity, and D&O policies. Yet cyber is also a risk…
All AI wants is your data, and the problem is we’re giving it exactly that. One says ‘problem’ because we’re between a rock and a hard place with AI. On one side, to leverage the power of AI, AI has…
The Bank of England, Financial Conduct Authority, and HM Treasury have published a joint statement on AI models and cyber resilience. The statement highlights the need for Boards to have a sufficient understanding of AI and to set a strategic…
Anthropics latest AI model, Mythos, is causing financial regulators globally to raise concerns that AI is ‘supercharging’ complex cyberattacks and creating significant risks that could impact financial stability. The Bank of England Governor, Andrew Bailey, reiterated what other banking regulators…
The US president issued the National AI policy, setting out the guidelines for AI policy to be developed by the White House over the coming months and years. The seven pillars include 1. Protecting Children and Empowering Parents 2. Safeguarding…
AI is still focused on the blue-collar work undertaken in white-collar environments. The opportunity and challenge that lies ahead is using AI to replace the complex, tacit, experience-led work carried out by white colalr workers. Not until AI can resolve…
Dutch data protection regulator Autoriteit Persoonsgegevens (AP) published the enclosed topical paper on the need to control AI, or face a Wild West of AI risks. Risk that will be difficult to manage as Gen AI consumes data at an unprecedented…
Gerry Kennedy, the problem with risk transfer is that time is on no one’s side. Digital dependency has removed most aspects of control. You only have to look at the challenges and opportunities Open Claw creates to understand that you…
Closing the Barn Door After the Horse Has Bolted………… A paper worth reading if you are responsible for managing risk transfer, especially AI risk transfer. As the insurance industry starts to work out how to manage AI risk. As with…
AI now touches many things that organisations do, and AI has the potential to touch every line of insurance, as pointed out by Carlo Ramadoro from Lockton, and it’s creating a headache for the insurance industry. The AI genie is…
