Life insurance group cites state guidance on AI, need for flexibility in comments to Treasury

The American Council of Life Insurers says the industry is “well regulated” at the state level and is already aligning with guidance on artificial intelligence by a national state commissioners body, while arguing against “broad-brush regulation” in comments submitted under a Treasury Department inquiry on AI.

“It is critical to consider AI in the context of its use within the specific financial services application. Insurance companies and the technologies they deploy follow sound state insurance regulations that promote innovation and...