Professionals: Short-term » Press Room

European Commission’s approach to artificial intelligence (AI)

Patrick Bracher, Director
Norton Rose Fulbright South Africa Inc.  

The European Commission has labelled AI as one of the most strategic technologies of the 21^st Century (so far of course) and has proposed a three-pronged approach to EU members which is worth considering:

1. Investment in AI research and innovation must be increased. The EU (public and private sectors) is boosting investment by at least Euro 20 billion between now and the end of 2020.
2. Because many jobs will be created but others will disappear and most will be transformed, everyone is encouraged to modernise their education and training systems and support labour market transitions. This should include strengthened support for training in advanced digital skills, including AI-specific expertise.
3. Artificial intelligence will raise new ethical and legal questions, related to liability and potentially biased decision-making. The new technologies should not mean new values. Ethical guidelines must be developed based on fundamental rights (such as those in our own Bill of Rights). 

Breaking News »

Healthcare » Healthcare planning new year resolutions for 2021 Healthcare Funding and Resources – SA’s ‘other’ pandemic Report highlights impact of Covid-19 on household finances Local CIS industry sees record net inflows despite Covid-19 woes Draft Conduct Standard published for CIS Managers

Investment » Investing with style – A guide to understanding investment styles and strategies FAIS Ombud Annual report highlights the need for TCF DIVERSITY AND DIRECTORS AND OFFICERS LITIGATION COVID-19: NAVIGATING THE ‘CEO MOMENT’ Justin Jacobs appointed as Chief Underwriting Officer of Coface South Africa

Life » Rule 19 – how it affects advisers and the industry, and are there tools to support advisers in complying? 1Life recognised as the top direct life insurer for the 10th year running Insurance Ombudsman determines non-advice policy is void FPI awards – Winners announced Advisors now more dependent on social media

Retirement » International Survey maps the future of home and motor insurance It's all about Software-as-a-Service (SaaS) Introducing Insure Cloud, your SaaS short term insurance platform Call for actuaries to collaborate with government to rid South Africa of “wicked problems” Wealthy families support the fight against COVID-19