InsurTech weekly - Tech is just a means but could help address the future of risk & compliance

_{Generative AI in risk & compliance}

‍Generative AI is poised to become a catalyst for the next wave of productivity gains across industries, with financial services very much among them. From modeling analytics to automating manual tasks to synthesizing unstructured content, the technology is already changing how banking functions operate, including how financial institutions manage risks and stay compliant with regulations.

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_{The ClimateTech opportunity in FinTech}

‍Compared to the overall VC market downturn, which recorded a drop of 38 per cent year-over-year, climate fintech investment volume was not affected by these instabilities and changes in 2023, reaching $2.3 billion (a decrease of 19% compared to a year before).

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_{Reminder: tech is just a means, even Generative AI}

‍Over 95% of large organizations are running a pilot or live production of some form of generative AI. These companies have moved beyond researching and evaluating possibilities and moved into taking action. Midsize organizations have often identified over 100 possible use cases and the largest have over 500 defined. Among the business leaders we work with, responsible for marketing, sales, customer support, and overall customer experience, the conversations have progressed from "What could generative AI do?" to answering the question: "Does generative AI deliver value for my business unit, for my business, and for my customers?"

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