Our Cyber expert, Edward Lewis, shares the top things to think about if your business is considering harnessing the capabilities of AI
1. Identify specific business problems that AI can help solve.
Don't just apply AI for the sake of it.
2. Ensure that data used to train AI models is of high quality.
Make sure the data is also reliable, and representative of the real-world scenarios.
3. Develop clear guidelines and ethical principles around the use of AI.
These guidelines should cover areas such as fairness, transparency, and privacy.
4. Choose the right AI model for the problem at hand.
Consider factors such as the amount and quality of data available, the level of human supervision required, and the type of insights required.
5. Conduct thorough testing and validation of AI models before deployment.
This will help ensure that the models are accurate, reliable, and effective.
6. Ensure that AI models are continuously monitored.
It is also important to ensure they are updated to maintain their accuracy and relevance over time.
7. Foster collaboration between humans and AI systems.
Humans should be involved in the decision-making process, and AI should be used to augment human capabilities.
8. Be transparent about the use of AI in insurance.
Customers should be informed about how AI is used and how it affects their insurance policies.
9. Ensure that AI systems comply with legal and regulatory requirements,
This includes data protection and privacy laws.
10. Invest in cybersecurity measures.
Protecting AI systems from potential threats, such as hacking and data breaches.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.