Lloyds of London started selling insurance for AI malfunctions. Companies are either overinvesting in AI and calling it transformative, or buying insurance to hedge the risk. The question is whether AI will actually displace workers or if we're caught in hype.
The last thing I will say is, like, on the other side of the coin, I think the Financial Times released a piece that said the insurer Lloyds of London released a product to cover companies for the losses caused by malfunctioning AI tools. Really, there's enough issues that people are kind of asking, how do I protect myself? So you kind of shared, like, the meteorite, what if, I don't know, you overpaid for that protection in the long run, and then now you're kind of hemorrhaging out.
I think the Internet has short memory, and I think for the companies that overinvest in AI and maybe go too crazy, they'll just say it was transformative tech. It was the thing of the moment. We were total, totally comfortable being excessive, but we weren't willing to underinvest.
