As more organizations continue to apply and use artificial intelligence (AI) within their systems, the technology is expected to play “a crucial role in improving efficiency and efficiency to meet new challenges,” says Rajeev Gupta, co-founder and chief product officer. , Bell.
Gupta says Cowbell expects to see more automation in both back-office and front-office applications “due to the increased adoption of AI and generative AI.”
It’s important to remember that Generative AI (Gen AI) is a type of AI technology that can produce different types of content. This includes: text, images, audio and synthetic data.
However, this form of AI is already proving to be a real disruptor in the industry, and its adoption is said to see explosive growth. according to a recent analysis by Aon.
Moving forward, Gupta explains how AI is likely to play an important role in both cybersecurity and insurance.
“AI can be used to detect and respond to cyber threats more effectively, and it can also help insurance companies assess and manage risks more accurately.
“Advances in quantum computing may also present both challenges and opportunities. While quantum computing has the potential to break current encryption methods, it can also be used to develop more secure encryption algorithms.
Additionally, Gupta suggests that the “increasing connectivity” of devices due to the Internet of Things (IoT) is likely to create new vulnerabilities, making cybersecurity measures even more critical.
“As a result, there may be increasing demand for insurance coverage related to IoT security breaches. »
Adding: “Personal cyber insurance will likely become more relevant as individuals increasingly rely on technologies in their daily lives. »
