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AI Governance Newsletter from Monitaur

News | About Us | LinkedIn

“In universe simulations, a change to a single parameter can govern if entire galaxy clusters will ever form”

- Rachel Losacco 

October 2024 | What's new this month

Watch the recording: Are You Prepared for AI to Transform Your Business? Building a Future-Proof AI Governance Framework

Join Anthony Habayeb and Lee Dittmar for an engaging and urgent discussion on why now is the time to establish an AI governance framework that ensures your organization maximizes the value of AI while avoiding its hidden pitfalls.

Watch Now

Insurtech Connect 2024

We loved seeing everyone at ITC! If you weren't able to meet with the team last week, check out what we shared at the show!

Insurtech Connect

The AI Fundamentalists Podcast

Complex systems: What data science can learn from astrophysics with Rachel Losacco

Complex systems_What data science can learn from astrophysics with Rachel Losacco

Our special guest, astrophysicist Rachel Losacco, explains the intricacies of galaxies, modeling, and the computational methods that unveil their mysteries.

 
Listen Now

AI Governance & Assurance | Ethics & Responsibility

Embracing artificial intelligence responsibly in the insurance industry

Prioritizing the responsible use of artificial intelligence allows the insurance industry to navigate complexities, mitigate risks and unlock potential for innovation and growth. AI's rapid transformation of the insurance landscape offers immense opportunities and significant risks, particularly in underwriting, claims processing and customer service.

 

Why corporate integrity is key to shaping the use of AI

Despite global efforts to harmonize AI governance, such as those advanced by organizations like the UN, Organisation for Economic Co-operation and Development (OECD), the Group of 20, the Group of 7 and platforms like the World Economic Forum’s AI Governance Alliance, it is challenging to move forward with the rapidly-evolving technology when governance is struggling to keep up. This means businesses have a key role to play by applying a strong code of ethics to ensure there is the necessary level of responsibility and accountability.

 
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Industry Regulation & Legislation

Raft of California AI Legislation Adds to Growing Patchwork of US Regulation
Once again, California is flexing its market power by taking bold and wide-ranging legislative action to regulate the use and deployment of artificial intelligence ("AI") systems. The CA AI bills add to the growing patchwork of AI regulation in the United States, notably including President Biden’s Executive Order imposing safety and security standards for AI and the Colorado AI Act barring "algorithmic discrimination" against consumers based on protected characteristics in enumerated fields. Other states are almost certain to follow suit by replicating and building upon the CA AI bills. Absent comprehensive US federal preemptive regulation, developers and deployers of AI systems will operate in an increasing minefield of regulatory risk, underscoring challenges to ensure compliance.

Impact & Society

What to know about generative AI: insights from the World Economic Forum 

Generative AI is drawing ever wider circles across science, industry, public services and our daily lives. At the same time, it’s still a rapidly evolving technology. This piece rounds up some of the World Economic Forum’s research in these areas, from governing genAI to how it’s transforming areas such as education, health, and finance.

 

 AI: A Tectonic Shift in Human Society

The first time most people could communicate with a computer that responded like a real person was in 2022 when OpenAI publicly launched ChatGPT. Just two months later, the app set the record for the fastest-growing user base with 100 million monthly active users. Since then, advancements in artificial intelligence (AI) as a technology have been stunning. Most of the AIs all around us remain out of sight. AIs manage energy distribution across the country. In the world of finance, about 70% of stock trading volume is initiated through algorithmic trading, another form of AI. “I would say that AI is part of the human system,” said Martin Hilbert a professor of communication in the College of Letters and Science at UC Davis.

Hilbert is among the many social scientists across Letters and Science who study AI to answer questions about people and society and to develop technologies that may drive our future. This work touches nearly every part of daily life, from health to education to the way we communicate with each other. Their work shows that at this point in history, AI and human society are inextricably intertwined.

 

One step forward, two steps back: Why Artificial Intelligence is currently mainly predicting the past

Artificial Intelligence (AI) is celebrated by many as a technology of the future; however, it predominantly looks to the past. This blog post explores why AI systems often reproduce old patterns instead of developing progressive solutions. What role do historical data play in the predictions and decisions made by AI? How do existing inequalities and the marginalization of certain groups in our society get exacerbated by AI systems, and what does this mean for social justice?

 

Upcoming Events

  • Insurtech on the Silicon Prairie Omaha, NE October 28-29.
  • Guidewire Connections Nashville, TN November 17-20. 
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