Canada’s financial services supervisory regulator is seeking input from federally regulated financial institutions (FRFIs) on how they are adopting artificial intelligence (AI)/machine learning (ML) into their operations. The Office of the Superintendent of Financial Institutions (OSFI) and the Financial Consumer…
Will generative artificial intelligence (AI) make your skill sets obsolete? If you answered yes, you have the same belief as 17% of Canadian workers recently surveyed by recruiting and business consulting firm Robert Half. Survey respondents worked in occupations ranging…
In an ever-evolving digital world, artificial intelligence — a technology that mimics human cognition by learning from experience, identifying patterns and deriving insights — is becoming widely adopted by companies. In fact, AI adoption has skyrocketed in the 18…
Debates about whether humans or computers are at the centre of innovative insurance products are a red herring — the best way to build an insurance product is an integrated approach using the best of what humans and machines have…
If people intend to use data to help mitigate risk or save lives, that data must be trustworthy, says an artificial intelligence expert. Sean Griffin, CEO and co-founder of Disaster Tech, a disaster risk data firm, pointed out during CatIQ…
Artificial intelligence is being used now to support human staff with text messaging being a prime example, an Ontario mutual CEO says. “We are seeing a reduction in cycle times that we have now eliminated that dreaded phone tag that…
LONDON – Google’s chief executive called Monday for a balanced approach to regulating artificial intelligence, telling a European audience that the technology brings benefits but also “negative consequences.” Sundar Pichai’s comments come as lawmakers and governments seriously consider putting limits…
Perhaps the biggest trend one property claims expert has seen in recent years throughout the insurance industry is the focus on enhancing the customer experience. And using technology is going to be what can help one company differentiate itself from…
When nearly half of your time is taken up doing mundane – but essential – tasks, one expert believes it’s time to embrace a better way. Carlos Benfeito, Montreal-based head of insurance products at Element AI, noted that about 40%…
Technology-focused investments are pushing business model changes across industries, and insurance is not immune to these pressures, a new study by global investment management firm Conning suggested. Released on Wednesday, the study examines the changes that are underway in personal…
Learning is a life-long process and not just for humans – online chatbots can also continue to learn and become smarter, attendees to the Insurance-Canada.ca Broker Forum (ICBF) heard on Wednesday. Amanda Ketelaars, operations manager with Whitby, Ont.-based Mitchell &…
Insurers who succeed will “do so by dramatically transforming their workforces and cultures to operate in a digital world,” according to a report released on Tuesday by Accenture, a global professional services company providing a broad range of services and…