Journal article
INSURING AI: THE ROLE OF INSURANCE IN ARTIFICIAL INTELLIGENCE REGULATION
Harvard journal of law & technology, Vol.35(2), p467
22 Mar 2022
Abstract
The artificial intelligence ("AI") industry is predicted to grow exponentially over the next decade, up to a 14.5% contribution share to Gross Domestic Product in North America by 2030. This growth will lead to a substantial economic impact on retail, transportation, banking, healthcare, and other markets, but it will also lead to AI-inflicted harms. These may include, for example, a robotic security guard running over a toddler, or an AI chatbot making slanderous comments online. The discussion about AI liability has thus far focused on what liability regimes should apply to AI-inflicted damages. An appropriate policy response, however, must include insurance as a regulatory mechanism. Insurance can help avoid legal issues of liability and blame-placing by acting as a governance and regulatory tool to incentivize and channel the behavior of regulated entities. It can enhance the integration of AI into daily commercial routines while mitigating the harms that may arise from this process.
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Details
- Title
- INSURING AI: THE ROLE OF INSURANCE IN ARTIFICIAL INTELLIGENCE REGULATION
- Creators
- Anat Lior
- Publication Details
- Harvard journal of law & technology, Vol.35(2), p467
- Publisher
- Harvard Law School, Harvard Journal of Law & Technology
- Resource Type
- Journal article
- Language
- English
- Academic Unit
- Thomas R. Kline School of Law
- Identifiers
- 991021861660204721