In the article, “AI is a powerful tool–but it carries risks,” the Indianapolis Business Journal shared how artificial intelligence and algorithmic decision-making (AI-X) team co-leader and Indianapolis partner Scott Kosnoff has been advising insurance companies about the impact of artificial intelligence (AI) and algorithms. The publication also spoke to him about the decision to formalize the launch of Faegre Drinker’s AI-X team.
Kosnoff answered questions about why AI has become so important to the insurance industry, as well as the legal ramifications of AI and what advice he would give to companies thinking about jumping into using AI.
“I think being involved in AI is going to become a survival skill for most organizations. But you have to be smart about it. You have to be thoughtful about what could go wrong, and you have to get out ahead of it,” said Kosnoff.
Kosnoff also discussed how the firm’s interdisciplinary AI-X team came together and what the team offers clients. He further explained how the team could look at clients’ algorithms and, for example, help them determine whether there may be unintentional biases.
The full article is available to Indianapolis Business Journal subscribers.