Part 5/11:
Leverage AI for workforce augmentation. Automating routine tasks allows employees to focus on higher-value, strategic activities. For instance, summarizing vast volumes of data, processing unstructured data, or generating code can significantly improve efficiency.
Implement guardrails and controls. Static models—those that do not learn from prompts—are preferred at present to mitigate risks like hallucinations (generating false information), bias, and data leaks. Human oversight remains crucial to ensure reliability.
Practical Use Cases in Insurance and Reinsurance
The insurance and reinsurance sectors stand to benefit immensely from AI-driven transformation. Notable use cases include: