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What connects a steam train
with an AI super brain?

The first US railway, the Baltimore and Ohio (B&O) was built in 1827. The inaugural stone was laid by Charles Carroll, the last surviving signatory on the Declaration of Independence.

Just over a century later, UK scientist Alan Turing invented his ‘universal machine’ that could famously perform any computation, thereby lighting the path to the development of deep learning and today’s AI systems that mimic key human brain functions.

  • What connects?

    Railroads brought and AI is bringing about profound societal changes. 
    Sparked by ambition, engineering savvy and a shedload of cash, railroads enabled shifts in population distribution, the rise of new towns and cities changing social behaviours and the culture.

    AI shares the same back story and is already bringing similar societal changes, affecting everything from employment, to privacy, social interactions, and even the way we think about intelligence and decision-making.

    But what’s different about AI is the sheer pace and scale of change it is bringing. 

  • The story's in the numbers

    At their peak in 1916, the US railroads spawned 3,800 operating companies. Already there are estimated to be 74,000 AI companies globally.

    In 2020, US commercial rail added US $75.8 billion to GDP. In contrast some estimates suggest AI could contribute up to $15.7 trillion to the global economy by the end of this decade.

    AI’s impact is quite literally off the scale. Its capacity to transform every industry sector and aspect of society is challenging business leaders and their insurers like never before.

What discombobulates?

Leveraging AI, companies and their insurers are contending with everything from cyber security threats, through to misinformation and disinformation that can generate reputational damage and legal disputes.

In the bowels of the black box algorithms that power AI, there is scope for bias leading to discriminatory outcomes and potential legal liabilities, not to mention the legion of regulatory and compliance risks facing any business pioneering new technology or novel ways of doing business.

Like the railways, AI is going places, but there are big hills to climb and some very scary drops en-route.

And that’s where we come in. We aren’t phased by big, new, fast or difficult. Instead, we help shoulder the risk, bringing our expertise to bear where it can help businesses manage the unexpected consequences of daring to go that extra mile.

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