The European Forum for Risk and Insurance professionnals
Last month on 22nd May, the OECD and partner countries adopted the first set of intergovernmental policy guidelines on Artificial Intelligence (AI). Through the adoption of these guidelines, they agree to uphold international standards that aim to ensure AI systems are designed to be robust, safe, fair and trustworthy.
The OECD summarised the Principles as follows:
1. AI should benefit people and the planet by driving inclusive growth, sustainable development and well-being.
2. AI systems should be designed in a way that respects the rule of law, human rights, democratic values and diversity, and they should include appropriate safeguards – for example, enabling human intervention where necessary – to ensure a fair and just society.
3. There should be transparency and responsible disclosure around AI systems to ensure that people understand when they are engaging with them and can challenge outcomes.
4. AI systems must function in a robust, secure and safe way throughout their lifetimes, and potential risks should be continually assessed and managed.
5. Organisations and individuals developing, deploying or operating AI systems should be held accountable for their proper functioning in line with the above principles.
AI represents just one example of the Digital Transformation that is happening today, and which businesses and risk professionals must be fully informed of in order to prepare for the impact and maximise the opportunities for the future.
Artificial intelligence and robotics have been a major topic for the EU this year. AI has become an area of strategic importance and a key driver of economic development. It can bring solutions to many business challenges. However, socio-economic, legal and ethical impacts have to be carefully addressed.
For these reasons and in response to what our Risk Manager members told us they wanted, we will be addressing how AI applies to European Risk Managers and Risk Professionals at our Forum in November. Find out more about the AI-related sessions here:
AI workshops at FERMA Forum 2019
From Data to AI: The New Scope of the Risk Manager in 2020 with Digital leaders from AXA XL, Marsh, and Airbus Defence & Space.
Big Data and AI Risks and Opportunities: Making the Most Out of These Technologies? with AI spokespeople from SAP, Lili.ai and Fraunhofer Institute for Intelligent Analysis and Information Systems.
To join us for further insight on Digital Transformation in Berlin from 17-20th November, register here.