Wherever there is opportunity, there is risk. That's one of the themes to emerge from a recent Swiss Re study titled "Tech-tonic shifts: How AI could change industry risk landscapes." The May 2024 report looked at the threats that artificial intelligence pose to specific industries as well as the larger insurance implications of those risks. "Providing AI risk solutions is a significant opportunity for the industry," the report says. "It is also a potential vulnerability, particularly when AI risks accumulate unseen within insurers' portfolios." The study measures each industry's AI risk by looking at six specific threats that emerge from the use of AI:

• Privacy risks;
• Intellectual property risks;
• Lack of ethics, accountability and transparency risks;
• Algorithmic and performance risks;
• Cyber incidents; and
• Bias or fairness risks.

The slideshow above ranks the industries that face the most risk from AI in 2024 and 2025, according to Swiss Re. The carrier's research indicates that industries that face the most risk now are likely to adjust and better manage AI threats in the future. "The benefits of AI are considerable across swathes of industry," the Swiss Re report concludes. "No technology, however, comes without risk." See also:

• How AI is transforming the commercial insurance experience
• Can AI overcome low-touch claims challenges?
• AI reduces costs for most expensive types of workers' comp claims