Video transcript: PwC & Microsoft Breakfast event - Reinventing Insurance with GenAI

Transcript

Dr. Stephanie Hare:
The big thing is figuring out how to engage with generative AI in a way that's ethical and responsible and sustainable. So what do we mean by that? We want ethics, which is transparency. We want explainability, and we want accountability. We want responsible so that this is being done in lockstep with society.

Craig Wellman:
So in terms of the challenges and opportunities, particularly around gen AI for the insurance industry, I think many organisations have built up IT estates, databases, over many years. And it will come in a very federated form. And just putting in a new technology like AI over the top of that doesn't necessarily give you better outcomes.

Glynn Austen-Brown:
Good morning, everybody. Thank you very much indeed for making it and braving the wonderful English summer weather. Hopefully, that's not the end of our summer. Microsoft's stat is that 41% of leaders think that, in the next five years, they're going to fundamentally redesign their business processes around AI.

Dr. Stephanie Hare:
How does a child work with AI? And we have to think about that generation because they're growing up, and this is just going to be the world we've created for them.

Matt Quinn:
When someone does come through to the contact centre, they've probably got a really complex query that the AI couldn't answer for them. We need that human capability. So actually your contact centre skills will need to increase.

Chris Sawyer:
The emerging research around AI as a human assistant is that it's most beneficial to lower skilled employees and less experienced employees.

Claire Thompson:
You can do a lot of the innovation and the testing and prove that a model's going to work, but actually putting that into production still involves a huge variety of different people.

Bradley O'Connor:
It took less than a week to build the internal generative AI tool, using the Microsoft stack. It took three or four months to implement.

Ben Pashley:
We need to be able to explain how the models operate, and that's not always possible with black box models.

Craig Wellman:
What's special about the PwC and Microsoft partnership is we complement each other. We don't compete with each other.

Theo Michalopoulos:
I think PwC has the skillset, the mindset, the culture as a company, the trust, that can work with us, with Microsoft, that we also have these capabilities. And we complement in a nice way to get to our customers and support them in their journey to identify value through journey.

Clare Holley:
I think the biggest takeaway for me today is that everybody's being so thoughtful. There's a real intention around slowing down to speed up.