TryGOLD- Free

AI Vaccine: It's Out of The Freezer

DataQuest|July 2024
Security can come in many stripes. AI insurance may sound novel, unusual, and even too early to some people. But with all the GenAI mishaps, hallucinations, bias-errors and jaywalking seen so far- it may be the right time for both insurance players and users to take a shot here. And not the Tequila one.
- Pratima H
AI Vaccine: It's Out of The Freezer

You don't put on a helmet in a normal car. But in a Formula 1 beast, you do it without whining. You don't drape a Parka jacket on your morning jog but on a snow-clad Arctic mountain, you obediently curl into it. You don't bedeck your shoes with spikes when you step out shopping, but on a football field, you noiselessly strap them on. You don't sign the dotted line when you fly on a domestic plane, but when you sky-dive, you shut your eyes and give that consent.

When things grow to the extreme, they get exciting but also unpredictable and dangerous. So why should we not be thinking of insurance as we trek into the ever-thinning, ever-growing air of GenAI? It's already an extreme sport for most players and users going by all the highs and lows that have been transpiring in the last few months. Good idea? Early? And how exactly would this insurance work? And for whom?

GENAI AND INSURANCE- SAY THAT AGAIN?

Let's take the instance of a US lawyer who encountered the consequences that the risk of hallucinations can entail in 2023. The lawyer used an AI chatbot to aid him in researching relevant case law (As illustrated in a Munich Re Whitepaper on this topic). The cases cited by the AI chatbot-as well as the subsequent reassurance by the AI that the cases turned out to be a hallucination of the AI. The result- This "bogus judicial decision with bogus quotes and bogus internal citations" received a "stern admonishment" by the federal judge ruling the case, tarnishing his law firm's reputation.

This story is from the July 2024 edition of DataQuest.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

This story is from the July 2024 edition of DataQuest.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

MORE STORIES FROM DATAQUESTView All
Universities need to invest in AI infrastructure
DataQuest

Universities need to invest in AI infrastructure

Suchismita Sahu, Senior Data Scientist at Nvidia, has navigated the competitive world of AI, building expertise in deep learning, speech and image processing, and large-scale Machine Learning applications. In this interview, she shares the essential skills for AI professionals, and how fresh graduates can position themselves for success in a dynamic, tech-driven world.

time-read
5 mins  |
March 2025
A look at the evolving role of data engineers in the GenAl era
DataQuest

A look at the evolving role of data engineers in the GenAl era

In this exclusive interview, Vamsi Kiran Badugu, Partner and Head of Engineering & Product at MathCo, shares his insights on the evolving role of data engineers, the key skills needed to thrive in the age of AI, and how India can cultivate a robust AI talent pipeline through strategic educational reforms.

time-read
4 mins  |
March 2025
An educational model for the modern IT world
DataQuest

An educational model for the modern IT world

Real-world experience is crucial for career readiness. Dr. Yajulu Medury, Vice Chancellor of Mahindra University, highlights the institution's strong industry partnerships and how they benefit students.

time-read
4 mins  |
March 2025
STRENGTHENING ENGINEERING EDUCATION: The Need for Industry Integration, Technological Advancement, Research Excellence, and Global Collaboration
DataQuest

STRENGTHENING ENGINEERING EDUCATION: The Need for Industry Integration, Technological Advancement, Research Excellence, and Global Collaboration

The DQ-CMR Best T-School Survey 2025 marks the 20th edition of this esteemed benchmarking study, serving as a trusted guide for students, educators, policymakers, and recruiters alike. The Dataquest T-School Survey stands as an industry-recognized yardstick for technical education, delving deep into how T-Schools foster essential skills for the technology sector and beyond, casting light upon their contributions to the sector and its ecosystem.

time-read
2 mins  |
March 2025
Is Your Reputation Al-Proof?
DataQuest

Is Your Reputation Al-Proof?

Corporate leaders must proactively protect their organization's reputation from various GenAI threats

time-read
6 mins  |
March 2025
When a transistor becomes a transformer
DataQuest

When a transistor becomes a transformer

With limited resources and opportunities, he could amplify India’s potential and computing mettle through every organisation he went to – whether it was a government-scion or an emerging IT powerhouse or a startup or India’s own Silicon Valley think-tank or a non-profit venture. He continues to transform ideas, people and is always manifesting what they are capable of. He continues to achieve and make a mark. Dr. Sridhar Mitta in conversation with Dataquest editor Sunil Rajguru. Edited excerpts from a video interview…

time-read
6 mins  |
March 2025
Chip Design to Quantum Computing: The path to a tech-ready India
DataQuest

Chip Design to Quantum Computing: The path to a tech-ready India

NIT Rourkela is driving India's semiconductor ambitions with a comprehensive approach to education, research, and industry collaboration. By integrating chip design, AI-powered Electronic Design Automation (EDA), and quantum computing into its curriculum, the institute is preparing students to take on key roles in semiconductor R&D and fabrication. An interview with Prof. Debiprasad Priyabrata Acharya, Professor, Electronics and Communication Engineering.

time-read
3 mins  |
March 2025
Your degree is in the past, and AI is in the future
DataQuest

Your degree is in the past, and AI is in the future

India produces over a million engineers annually, yet many struggle to meet industry expectations. Employers often lament the gap between academic learning and realworld requirements, especially with AI and automation transforming job roles.

time-read
8 mins  |
March 2025
Good teaching is necessary for good research and vice-versa
DataQuest

Good teaching is necessary for good research and vice-versa

Indian academic corridors are standing between two atriums. On the one hand, some struggle with concerns on integrity in academic research (Whether in publications or corporate projects). On the other hand, some are driving front-runner work in drug-discovery, cancer imaging, clinical research, road safety and environmental impact. Let’s find out where India is heading as we enter the Sophomore level in AI.

time-read
4 mins  |
March 2025
Drones not just tools but enablers of progress
DataQuest

Drones not just tools but enablers of progress

Agnishwar Jayaprakash, the founder and CEO of Garuda Aerospace, one of India's leading drone companies, explains how by integrating drones across multiple sectors, India can achieve greater efficiency, sustainability, and resilience.

time-read
5 mins  |
March 2025

We use cookies to provide and improve our services. By using our site, you consent to cookies. Learn more