The Reinventing Finance Podcast - Episode 49 Simon Torrance Founder of AI Risk

In this episode of the Reinventing Finance Podcast, Nikolaus Sühr had the pleasure of talking with Simon Torrance, Founder of AI-Risk, a startup focusing on reducing the risks of AI innovation and adoption and helping leaders understand the risks associated with developing and deploying AI around their organisation(s) and connecting them to the best solutions. As a well-known Thought Leader on Embedded Insurance, Simon shares his career path as a long-term advisor on Business Model Innovation with Nick and how he found his startup AI Risk right at the beginning of the global hype around new AI technologies. The discussion centres around four categories of AI Risk to consider when focusing perspective on Insurance Companies: 1) Strategic Risk (= How to not become outcompeted by insurance companies (or other companies as they use tech more efficiently)) 2) Financial Risk (= How is the opportunity cost / POC) 3) Operational Risk (= How to protect from and cover cyber threats, reputational risks, talent risks and other risks associated with daily operations) 4) Compliance Risk (= How to make sure you adhere to compliance standards and ethics) In the podcast with Nick, Simon also shares insights, use cases, and future perspectives on AI for the insurance industry. Check out the website: www.ai-risk.co #Insurance #Finance #Versicherung #InsurTech #Startup #AI #AIrisk #artificialintelligence