Under the overarching theme “FinTech x ChatGPT”, HSUHK Innovation Project Competition 2024 continued with the good spirit of instilling our students with a burst of innovation and an upgrade in skill sets with another talk, as part of the InnoXplore series! On 25 January 2024, Ms Elaine Chan, Data Science and Management Director of AXA Hong Kong & Macau, shared her profound insights on the transformative role of artificial intelligence (AI) in the insurance industry with over 80 HSUHK students.
During the enlightening talk entitled “Revolutionising Insurance: The Game-Changing Impact of AI Technology”, Elaine offered a fascinating tour through the history of AI, from its conceptual beginnings to the development of generative pre-trained transformers (GPT) and ChatGPT. She expertly navigated the audience through the advancements and milestones that have marked AI’s journey, providing a context for understanding its current and potential applications.
The audience was fascinated by real-life examples Elaine brought along to vividly demonstrate AI’s role in customer service improvements, risk assessments, fraud detection, and personalised policy offerings, illustrating AI’s tangible benefits in the industry.
On top of the various advantages such as increased efficiency and enhanced decision-making, Elaine also balanced the scales by discussing the risks and limitations that accompany the use of AI in sensitive sectors like insurance. Elaine Chan addressed ethical concerns head-on, emphasising the importance of responsible AI use, by humans being a maker and a checker.
A strong advocate for diversity in the tech industry, Elaine also took the chance to encourage young women to pursue careers in technology. She shared her own experiences and highlighted the importance of female representation in shaping the future of AI and tech innovation.
The talk not only provided our students with a good understanding of ChatGPT’s potential but also emphasised the importance of human-Generative AI collaboration and the sharing of knowledge. Elaine’s insights offered a glimpse into the future of the insurance industry and how our future leaders in the audience could engage with cutting-edge technologies, embrace innovation, and prepare for tomorrow’s business landscape, while uploading ethical standards.
Ms Elaine Chan shared her profound insights on the transformative role of artificial intelligence (AI) in the insurance industry.
The talk was well received with more than 80 HSUHK students attending.
Dr Holly Chung, Former Associate Director, Teaching and Learning Enhancement Section, Centre for Teaching and Learning, presented Ms Elaine Chan, with a token of appreciation.
