The AI in Business Podcast Global AI Regulations and Their Impact on Industry Leaders - with Micheal Berger of Munich Re
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Apr 15, 2025 
Michael Berger, Head of Insure AI at Munich Re, dives into the crucial impact of global AI legislation on the insurance sector. He unpacks how the EU AI Act's risk-based framework contrasts with the US's litigation-driven approach. Michael highlights essential legal precedents regarding AI liability that inform risk management strategies. The discussion also emphasizes the distinction between large foundational models and fine-tuned variants, guiding industry leaders in navigating AI governance while balancing innovation with risk.
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EU AI Act Promotes AI Adoption
- The EU AI Act's risk-based approach clarifies risk mitigation steps for specific AI use cases.
- This clarity reduces uncertainty and can promote AI adoption by providing a structured approach to risk management.
Differing Approaches to AI Regulation
- The EU uses regulation, while the US relies on litigation, to manage AI risks.
- Businesses operating internationally must adapt to both to ensure compliance.
Airline Liable for AI Hallucination
- A Canadian airline was deemed liable for an AI chatbot's incorrect discount information.
- This highlights the legal responsibility companies bear for AI failures, even if using third-party models.