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AI Impact on Insurance: Data Privacy Risks
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AI Adoption Raises Data Privacy Risks
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Global Insurance Law Connect (GILC) cautions insurers about the heightened data privacy risks posed by AI adoption, emphasizing the need for improved protection measures. The 'Artificial Intelligence Report' showcases AI's benefits in insurance, such as faster claims processing and better risk evaluation, enabling insurers to expand into new markets and provide customized coverage.
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How can insurers balance the benefits of AI in insurance with the escalating data privacy concerns?
In what ways might the insurance industry evolve in response to the growing utilization of AI?
What specific data protection measures should insurers prioritize to mitigate AI-related risks effectively?
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