AI, robots will worsen inequality, says expert

Original article by Damon Kitney
The Australian – Page: 41 : 3-Apr-19

Lord Adair Turner has told the Creative Innovation 2019 Asia Pacific conference in Melbourne that increased automation in the workforce will lead to greater inequality. Lord Turner, who is with the Institute for New Economic Thinking, also said that increased automation, along with the rise of artificial intelligence, could serve to accentuate a "winner takes it all" attitude within society. He said it is important to think about the jobs that humans can do best and "to value and cherish them", and that wealth from land ownership would become more pronounced in the future.

CORPORATES
INSTITUTE FOR NEW ECONOMIC THINKING

QBE makes first insurtech play

Original article by Alice Uribe
The Australian Financial Review – Page: 20 : 27-Oct-17

QBE Insurance Group has invested in US artificial intelligence firm RiskGenius, with QBE executive Bob James saying it will help the insurer to develop new products more rapidly. The investment in RiskGenius is the first to be made via QBE’s $US50 million ($A64.85 million) "insurtech" fund. QBE CEO John Neal said at the time of the fund’s launch in March that its investments would focus on data analytics.

CORPORATES
QBE INSURANCE GROUP LIMITED – ASX QBE, RISKGENIUS, CB INSIGHTS

Law firms ‘sleepwalking towards a disaster’

Original article by Marianna Papadakis
The Australian Financial Review – Page: 31 : 17-Jun-16

Law firms should prepare themselves for the challenge posed to them by artificial intelligence. Ted Dwyer, of Dwyer Consulting, says the impact of artificial intelligence will be severe and law firms have only around five years to rearrange their services. Not only junior lawyers but also their older colleagues will be affected, particularly in areas such as electronic discovery, document automation, compliance and contract analysis.

CORPORATES
DWYER CONSULTING PTY LTD, DLA PIPER, IBM CORPORATION, GOOGLE INCORPORATED