AI tools like ChatGPT hold great promise for transforming various aspects of the insurance industry; however, it is crucial to approach their use with an awareness of the associated risks and ethical considerations.
Drawing on on insights from AI experts at Travelers and Monitaur, this article delves into the possibilities and concerns surrounding the use of OpenAI’s ChatGPT in business settings:
- Confidentiality concerns / data leaks
- The danger of over-reliance and automation bias
- Intellectual property issues
- Potential benefits to the insurance industry