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No specific prohibition on use of AI-based tools by govt depts Union minister Jitendra Singh

No specific prohibition on use of AI-based tools by govt depts Union minister Jitendra Singh

by AIP Online Bureau | Mar 27, 2025 | Eco/Invest/Demography, Indian News, Policy, Risk Management, Technology

However, government functionaries are expected to exercise due diligence and caution to ensure safety, security and confidentiality of public information while using any digital technology or platform, Union minister Jitendra Singh said in a written reply to the Rajya...

Insurers increasingly tap AI to tackle surging Cat losses

by AIP Online Bureau | Mar 26, 2025 | Climate, Environment, Renewable Energy, Disaster & Management, International News, Non-Life, Reinsurance, Technology

Risk experts are increasingly using AI to crack an especially intractable challenge: modeling hailstorms, thunderstorms and tornadoes, collectively known as severe convective storms, or SCS. Insured losses from SCS events totaled $61 billion in 2024, the...
AI turbocharging organized crime, EU Police agency warns

AI turbocharging organized crime, EU Police agency warns

by AIP Online Bureau | Mar 22, 2025 | Eco/Invest/Demography, International News, Policy, Risk Management, Technology

“Cybercrime is evolving into a digital arms race targeting governments, businesses and individuals. AI-driven attacks are becoming more precise and devastating,” said Europol’s Executive Director Catherine De Bolle The European Union’s law enforcement agency cautioned...
AI has potential to enable collusion; regulators need to adopt forward-looking approach: CCI chief

AI has potential to enable collusion; regulators need to adopt forward-looking approach: CCI chief

by AIP Online Bureau | Mar 16, 2025 | Eco/Invest/Demography, Indian News, Regulation, Risk Management, Technology

Ravneet Kaur, chairman, Competition Commission of India “Today’s competitive landscape is defined by platform economies, network effects, and algorithm-driven decision-making,” the CCI chief said and added that market power today is about data...

SBI to launch centre for financing AI, fintech, e-commerce industries

by AIP Online Bureau | Mar 14, 2025 | Banking & Bancassurance, Eco/Invest/Demography, Indian News, Technology

The project will help diversify the work of the bank’s project finance and structuring unit, which appraises, structures and funds large projects in infrastructure. Lending to so-call new age industries and renewable energy sectors increasingly make up a larger...
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