Differences between ‘innovation’ and ‘transformation’ in insurance
The first machine age, the Industrial Revolution, saw the automation of physical work. We live in the second machine age, where there is increasing augmentation and automation of manual and cognitive work. This second machine age has seen the rise of artificial intelligence (AI), or “intelligence” that is not the result of human cogitation. It is now ubiquitous in many commercial products, from search engines to virtual assistants.