Imagine you are an insurance executive waking up to a jarring headline: a fully autonomous, AI-only private insurance company has just launched. This competitor has no employees whatsoever—not a single underwriter or claims adjuster.
The firm touts 50% lower premiums, 24/7/365 service, and settlements in minutes. Within hours of the announcement, your company’s stock tanks.
We don’t know whether AI-only firms will become a reality in five years or 15. However, the scale of their potential impact—on competition, as well as on society more broadly, given the implications for large-scale job displacement and the erosion of human control over the economy—is sufficient to warrant serious consideration from CEOs today.
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