Responsible AI development, an important aspect for the competitiveness and long-term economic viability of the insurance industry

The European insurance social partners, of which Insurance Europe is a member, today issued a joint statement on artificial intelligence (AI).

In it, the social partners highlight the benefits of responsible AI use for companies and employees. For example, AI could, under certain circumstances, help to improve employees' working conditions, increase customer satisfaction and improve the efficiency of internal company processes.  

The use of AI can also provide the opportunity for better and higher quality jobs and help companies and employees in the performance of their daily work and tasks. In turn, this could allow employees to spend more time on other tasks and make better use of their skills. Therefore, "it is essential to proactively explore the potential and design options for the use of responsible AI to increase the productivity of companies and the well-being of the workforce," remarked the European insurance social partners. 

However, they are also concerned that Europe is not currently a pioneer in AI development. "The EC's own high-level expert group on the subject has in fact acknowledged that Europe lags far behind in the development of new AI technologies and said that better framework conditions to drive the adoption of AI solutions are urgently needed for this to change," they have reminded. 

In addition, the social partners stress that "responsible AI development is expected to be an important aspect for the long-termcompetitiveness and economic viability of the insurance industry and the employability and working conditions of its employees."

Media Center: ADN del Seguro

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