Artificial intelligence likely to increase risk of cyber attacks: Allianz

A report by Germany-based insurer Allianz Global Corporate & Specialty S.E. said that the widespread implementation of artificial intelligence applications is likely to increase the risk of cyber attacks for businesses across the world, Middle East Insurance Review reported. The report said that insurers will play a crucial role in minimizing, managing and transferring emerging risks from AI applications. Traditional coverages will need to be adapted to protect firms from cyber attacks, business interruption, product recall and reputational damage, the report added.

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