In painting a rosy and likely unrealistic picture of what AI can and can't do, Musk has, in our view, misled the public about how far we still have to go.
An increase in digitization, the rise of AI and better value-tracking methodologies have paved the way for more advanced technology like "intelligent decision-making."
If the proper guardrails and governance are not put into place early, insurers could face legal, regulatory, reputational, operational and strategic consequences down the road.
With online-only companies becoming more popular and more desirable, they’re causing the entire industry to rethink how they’re going to stay relevant.