Since ChatGPT launched last November, AI has catapulted into the mainstream. Investment in artificial intelligence is rapidly growing — on track to hit $200 billion by 2025 — as companies race to ramp up their AI divisions. People are grappling with how applications of AI will change the way we communicate with one another, make our lives more efficient, or even how AI could replace our jobs.
Yet, over the past few months, major business leaders and researchers in the field have begun speaking up about the risks and benefits associated with the dizzying pace of AI development. Some say AI will lead to a major leap forward in the quality of human life. Others have signed a letter calling for a six-month pause on development, testified before Congress on the long-term risks of AI, and claimed it could present a more urgent danger to the world than climate change.
AI is a hot — and controversial — topic right now. To help cut through the frenzy, Insider put together a list of some of the big names in the field. This list provides a starting point to learn what leaders in the field are saying about how the technology could shape our future.
In related news, the increasing use of AI in everyday services is raising concerns about privacy and accuracy. A recent incident with Travelers Insurance highlights these issues. An individual was notified by their insurance broker that their homeowner’s insurance had lapsed. The cause? AI-powered drone surveillance had flagged their property as high risk due to moss on the roof.
Travelers uses aerial photography and AI to monitor its customers’ roofs and has nearly 50 patents on this technology. The individual, a privacy advocate, found this method invasive and inaccurate, as there was nothing wrong with their roof.
The presence of moss on the roof, which can be harmless if treated promptly, was enough for the AI to flag the property as a risk. This led to the insurance policy being revoked, despite the homeowner taking measures to remove the moss. The incident highlights the opaque nature of AI surveillance and decision-making processes.
Travelers insurance company spied on a customer’s house then cancelled his home insurance policy.
A man’s insurance broker sent him an email telling him his homeowner’s insurance had lapsed.
He thought, How did I let this happen? Did I forget to update a credit card? Did I… pic.twitter.com/puo45wGhOi— maxxhazzard (@maxxhazard) August 8, 2024
Insurance companies have significant incentives to be overly cautious in building their AI models. When AI mistakenly flags a roof as problematic, homeowners bear the cost of unnecessary repairs. This can lead to more aggressive AI models over time, increasing the likelihood of unjustified insurance cancellations.
Travelers denied that AI analysis and drone surveillance are part of their underwriting decision process. However, the company’s patents and statements about using aerial imagery for property reviews suggest otherwise.
Ultimately, the individual’s insurance was reinstated due to New York’s consumer protection laws, which prevent cancellation without proper notice. This incident underscores the need for updated regulations to protect consumers from AI-driven decisions.
The need for transparency and safeguards grows as AI becomes more integrated into various sectors. Lawmakers must ensure that AI technologies are used responsibly and that consumers are protected from potential misuse. Without such measures, the future of AI in services like insurance remains unsettling, risking the peace of mind that these policies are meant to provide.
