He shares how new technologies like machine learning and AI are shaking up the industry and the role of insurance agents.

The release of two malicious language models — WormGPT and FraudGPT — demonstrate attackers' evolving capability to harness language models for criminal activities.

In other news: NEXT launches commercial excess liability and liquor liability coverages.

Secretary of the Commonwealth William F. Galvin says a probe into how firms are using AI isn't a condemnation of the tech but an acknowledgement of its potential impact.

Companies that don't use the technology on average pay $1.76 million more and take 108 days longer to respond to incidents than firms that utilize it.

Insurers are adapting AI technology to improve customer experience, enhance fraud detection and create accurate risk-ranking models.

Analytics and agent-to-broker communications are becoming more popular applications for cloud data management. Marketing and automation applications haven't yet reached that kind of critical mass. Google and Amazon discuss their cloud services approaches.

Cloud giants are making major investments in generative AI and large language models. Their financial services clients are mostly in test-and-learn mode.

Rebuilding artificial intelligence algorithms to explicitly integrate transparency and overcome black box limitations.

The National Association of Insurance Commissioners has issued guidance to insurance companies about existing laws and governance requirements they need to follow as they develop and use AI models. Experts say it's a good first step.

Companies will put new artificial intelligence systems through internal and external testing before their release.

Coterie Insurance, a small business insurance underwriter, is seeking to expand its ability to provide instant quotes and coverage with AI-powered data technology.

The managing director of Arjuna Capital led a successful shareholder activist campaign in 2018 that led to dozens of large companies reporting their true gender pay gap numbers. Now she is pursuing companies who are moving too fast with advanced AI.

Roots Automation, Cowbell Insurance and Capitola are among the younger companies that have started using GPT technologies.

In a data breach at OpenAI, some ChatGPT users were able to see other users' financial data. In other cases, users have invoked their dead grandmothers to access information that should have been sealed off.

Companies can collect and analyze customer data to provide tailored offerings and targeted promotions based on customer behavior, preferences, and risk profiles.

Data scientist Cathy O'Neil warns that insurance companies need more risk pooling.

FTC Chair Lina Khan, who testified before Congress Thursday, has raised concerns about AI before, saying enforcers "need to be vigilant early" with transformative tools like artificial intelligence.

In May, the California Department of Insurance sent surveys to property & casualty insurers, to get information about how insurers are using tools like big data, artificial intelligence and machine learning in their decision making processes.