Where the AI Risks Are: Swiss Re's Top 10 Ranking by Industry.

According to a white paper from Swiss Re Institute titled "Tech-tonic shifts: How AI could change industry risk landscapes," the insurance industry ranks sixth in terms of current AI risk and seventh in terms of future risk among 10 major industries. Healthcare is predicted to replace IT as the most exposed sector to AI risks in the next 10 years. The paper highlights the opportunities for insurers to cover AI risks in industries that are currently and will be more exposed to these risks. It also discusses specific risks related to AI, such as data bias, cyber risk, algorithmic and performance risk, ethical lapses, intellectual property, and privacy risks. The paper emphasizes the importance of the insurance industry in addressing AI-related risks and mentions the availability of AI performance guarantees and potential coverage under existing policies. The rankings and findings are based on a methodology that includes analyzing historical incidents and patents related to AI. [Extracted from the article]