Risk & Robots reposted this
Ok, anyone read the #Noahpinion post this morning about AI (by Noah Smith, whose writing I adore)? It was a much clearer layout of something I have long believed - AI may well make our humanity more valuable, not less (working at the top of our licenses, in insurance-speak). It’s comparative advantage - no matter how good AI gets, it’s always going to make sense for humans to do the things humans do best relative to the other things we can do. There’s no reasonable world in which AI takes it all over, because there’s a always a limit on energy available to pump into AI computing, no matter much more efficient it gets/how much more energy we can access. What’s our comparative advantage? Connecting with other people, empathy, understanding, connection. Seeing connections that haven’t existing before. Breaking the fourth wall between data and the human activities that create the data. All things that computers can’t do. Heck even social media doesn’t do those things, and that’s human created content sitting on tech platform. What kinds of tasks are likely to matter more, not less, in insurance in an AI world? I’m no futurist, but here’s what I’m thinking. What else? 💡 Risk assessments/reassurance/counseling for individuals and businesses 💡 Return to work support after a workplace injury 💡 Training AI models to understand the humans that create the data 💡 Management, generally 💡 Bus dev, M&A, and similar They’ll all be hyper charged by AI tools, but the most important parts of these jobs will be even more valuable. Also, here’s what DALL-E comes back with for “Draw a picture illustrating comparative advantage for humans vs AI.” I like where it’s going. #aiininsurance #insurance #insurtech
Great points! The Noahpinion piece sounds like a fascinating read, especially the idea of AI amplifying our human strengths. We (Ocoya) believe AI can be a powerful tool for augmenting human capabilities, particularly in areas like social connection and creative problem-solving. In the insurance industry, for example, AI could automate tasks like data analysis and claims processing, freeing up human experts to focus on building relationships with clients, understanding risk holistically, and providing personalized support. What are your thoughts on the potential role of AI in fostering empathy within the insurance industry? 🙂
Like current models, AI may well do best at higher data availability activities. For a large company or large market, many improvements will flow. For a more niche market, it’s possible AI will be less reliable, perhaps even flawed. We shall see how we it performs when handling nuances in language, interpretation, and personality.
AI may now be generative, but it is still far away from being genuinely creative, or even just accurate. Until it takes less time to validate an LLM's output than it would have taken for a human to do the job, it is more accurate to call it AAI (artificial, artificial intelligence).
I believe AI will also enhance and accelerate the more creative aspects of the business like product development and marketing by allowing the creators to open their aperture and consider a wider range of creative inputs and ideas. Should also help process customer/user feedback more efficiently to make revisions and improvements. Still, it’s a tool, an accelerant.
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5moThank you for sharing Kate Terry. The analogy that has been around for awhile, even before AI became the thing, is chess. Initially, computers surpassed humans (sorry Garry Kasparov, them not showing you Deep Blue’s games was unfair), just to be surpassed by hybrid human computer teams (father and son out of their garage were dominating the world for a while). That said, AI is not there yet. It’s useful in some tasks (already more useful than some humans) but is limited and not infallable. It hallucinates. It misses “obvious” context. We can reasonably establish how far from GAI it is. The problem is that it’s impossible to predict how long it will take it to cover the distance. It’s a black box whose evolution is loosely capped by computational power and its learning “approaches”. With the rise in guardrails (that eventually might also be differently appropriated AIs) AI gets that opponent to brush its moves against. The rate of this process cannot be linear (Peter H. Diamandis). The notion of such exponential escalation has been described since 80s in the context of US-SU cold war escalation. So we could wake up one day to a surprise. Hopefully, it is good - a human on the bicycle is the most movement-efficient species -one.