Artificial Intelligence on the Rise: Opportunities and Risks
Technology has been an integral part of our personal and work lives to the extent that we rely on it to get everything done. The latest disruptor, and a topic of conversation in any context, has now been the introduction of Artificial Intelligence (AI). Even though AI has been around and a part of our technology usage for a long time, Generative AI has been the evolutionary change that is causing us to rethink and relearn how we use technology.
Generative AI is slated to enhance our ability to efficiently manage and decipher large amounts of information. The use case scenarios exhibited by various tech firms have been promising. However, as is true with any new technology, its enhanced capabilities also come with new risks. Therefore, it becomes imperative to comprehensively understand this new technology and its risks before implementing it for widespread usage.
We have come to understand that OpenAI, the most well-known and used form of AI, such as ChatGPT, publicly shares information and learns from continued usage. We have also derived that not all information provided by these OpenAI platforms is factual. Therefore, using OpenAI in a work environment creates a degree of unreliability, and so it becomes pertinent that we “fact-check” any information obtained from it before completely depending on it.
Another aspect of AI is developing and training in-house AI models that are more fit-for-purpose for organizations. This option provides more control for organizations on the security of the data as well as on the reliability of the information provided. Although this option sounds like the perfect solution, it requires extensive financial and specialized resources and is, therefore, not an avenue that can be explored by small or mid-sized organizations that are constrained by access to limited resources.
Our Approach: Walk Before We Run
Controlled use of AI tools
Exploring secure applications
Staying informed
Assuris management recognizes that the use of AI is inevitable, and it’s better for organizations to allow its use in a controlled environment where its usage can be monitored, rather than having shadow users and thereby creating unmonitored usage and exposure to security vulnerabilities. We also agree that much still needs to be done to ensure the safety, security, and reliability of applications and the information generated using AI.
Our approach to adopting this technology has been to learn to walk before we can run. With this in mind, we have allowed limited usage of AI in our organization. Our practice now allows and encourages employees to use OpenAI for research purposes or idea generation/inspiration purposes only. We acknowledge that OpenAI can be an excellent resource for these endeavours. In the same context, we also provide clear and strict directions to employees not to input any Assuris sensitive information on any of these platforms.
Another instance of Assuris adopting AI tools is with the goal of applying AI applications to organize and optimize our day-to-day tasks. To this end, we are evaluating the feasibility of utilizing Microsoft Co-Pilot in our technological environment, with safety and security at the forefront. We have engaged external expertise to comprehensively assess the impact on the IT infrastructure, ensuring security and protection of data prior to implementation.
AI is a rapidly developing sector of technology. It is of the utmost importance that organizations remain informed about developments in AI, its adoption, utilization, and the acceptance of its usage by organizations. We at Assuris are keeping apprised of the developments in the industry and the use of AI, specifically in the insurance industry, by our members and industry partners, as well as staying up to date with any guidance provided by various regulatory bodies.
Staying in the “Goldilocks Spot”
Our approach to adopting Generative AI remains to stay informed, frequently evaluate, and be cautious. Our philosophy at Assuris regarding the adoption of new technology continues to be “Technology that is not on the leading edge but also not on the bleeding edge.” We aim to be at that “goldilocks spot” where we adapt to technology that has been vetted, with substantive testing completed, and is certified as safe and reliable to use.
