Ai is the buzz word everywhere, and whilst everyone is becoming more familiarised with how it can facilitate them, there remain questions around the long term implications for jobs and for industry.

Therefore, in order to provide some insight on this matter, we are going to be doing a series of breakfasts this year, where in each one, we look to deconstruct the impact of Ai on the industry in question. This week, we launched the series by profiling the impact of AI into the legal sector.  For context, AI has been transforming the legal sector by automating research, contract review, and document drafting. It also optimises e-discovery, and is now starting to predicts case outcomes. Companies to watch include Harvey, Luminance and Lex Machina.

Next we will be looking at insurance. Indeed, AI is transforming the insurance industry by enhancing efficiency, accuracy, and customer experience. It automates claims processing, fraud detection, and underwriting, significantly reducing manual work and turnaround times. Insurers use AI to analyze vast datasets for better risk assessment and personalized pricing. Chatbots and virtual assistants improve customer service, offering instant support and policy management. Telematics and IoT devices feed real-time data for usage-based insurance models, especially in auto and health sectors. AI also helps predict and mitigate losses. Companies to watch include Tractable, Zego and Wrisk.

Indeed across every industry, the transformation happening is material. Take the Media industry, which is now at risk of having its IP absorbed into training models, resulting in a big debate over what legal protections should be afforded. With that, AI is transforming the media industry by revolutionizing content creation, personalization, and distribution. Generative AI tools produce articles, videos, and graphics, streamlining workflows and lowering production costs. Recommendation algorithms personalize user experiences on platforms like Netflix and Spotify, increasing engagement. In advertising, AI enables precise targeting and real-time bidding, optimizing reach and ROI. Newsrooms use AI for automated journalism and trend analysis, while content moderation systems detect harmful material. Virtual influencers and AI avatars are reshaping digital entertainment. Despite its benefits, AI raises concerns about misinformation, deepfakes, job displacement, and intellectual property rights, prompting ongoing debate around ethical media use.

With that, it is worth remembering that AI is reshaping the job market by automating routine tasks, enhancing productivity, and creating demand for new skills. Roles involving data entry, customer service, and repetitive processes are increasingly handled by AI, which will lead to job displacement. At the same time, AI is generating new opportunities in tech, data science, and AI oversight. Human skills like creativity, emotional intelligence, and critical thinking are becoming more valuable. Companies are investing in reskilling and upskilling to adapt. The challenge with that, is ensuring that people who are displaced, are not then left behind.

Anyway, if there are industries you would like us to focus on for our breakfasts in the second half of the year, then get in touch.

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