June 16, 2021

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This $5 billion insurance company likes to talk up its AI. Now it’s in a mess over it.

https://edition.cnn.com/2021/05/27/tech/lemonade-ai-insurance/index.html

"But in Lemonade's IPO paperwork, filed with the Securities and Exchange
Commission last June, the company wrote that AI Jim 'handles the entire
claim through resolution in approximately a third of cases, paying the
claimant or declining the claim without human intervention.'"

Lemonade walked-back that statement—post-IPO, and after Twitter blasted
the brand for claiming their AI 'Jim' dispensed claim adjustment based on
facial recognition.

Expect one or more lawsuits from investors who drank the lemonade without
reading the label.

Risk: Overtrust reliance on AI business solution capabilities and commercial
viability.