Insurers at Lloyd’s of London have launched a product to cover companies for losses caused by malfunctioning artificial intelligence tools, as the sector aims to profit from concerns about the risk of costly hallucinations and errors by chatbots.
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Insurers launch cover for losses caused by AI chatbot errors
“We assess the AI model, get comfortable with its probability of degradation, and then compensate if the models degrade,” said Ramakrishnan.
