The Michigan Department of Insurance and Financial Services (DIFS) has released guidelines for insurance companies using artificial intelligence (AI). The bulletin aims to protect consumers from potential risks associated with AI, such as discrimination and inaccurate decisions. While acknowledging AI’s potential benefits, DIFS emphasizes the importance of compliance with existing laws and regulations. The department expects insurers to implement robust governance and controls to ensure fairness, transparency, and accountability in their AI systems.
DIFS is aligning its stance with national guidelines and is providing clear expectations for insurers regarding the development and use of AI in their operations.
Read more: https://lnkd.in/ef6yyQtV
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