I run an insurance company. AI won’t scale without managing risk

The debate about artificial intelligence has focused heavily on what the technology might make possible. For Australia, that matters. We are a high-wage, services-led economy with a long-running productivity challenge.

But technology does not transform economies simply because it exists. It transforms economies when businesses have the confidence to adopt it at scale. Recent research contributed to by QBE found that about 60 per cent of business leaders have intentionally slowed AI implementation due to concerns about errors and malfunctions. That is the productivity challenge: the capability may be moving quickly, but adoption will only accelerate when organisations are confident the risks can be understood and managed.

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