Technology is poised to take over traditional markets and is rapidly creating new ones. For example, this trend is evidenced by the adoption of electric vehicles, demand for solar energy, and the blistering pace of generative AI adoption.
Yet these innovations also present challenges for governments and society, and potential risks for insurers as their usage grows.
An Artificial Enhancement to Cybercrime and Civil Unrest
Over the past year, generative AI tools have experienced explosive growth. Recent surveys have found that one-third of enterprises regularly use the technology in their business functions. While the technology is helping insurers enhance productivity and profitability, there are tangential risks.
Generative AI (GenAI) played a larger and more harmful role in cybercrime in 2023, not