In the late 2000s, when marketing departments were beginning to get to grips with social media, I remember hearing lots of pitches for consultancy business that were heavy on ‘fear of missing out’, warning firms that if they didn’t get social media-savvy fast, they would be left behind.

When it came to risks around data and privacy, the pitches all touted the same line: the world is in the hands of a generation of digital natives; they laugh at the idea of privacy.

In some respects, the consultants were right. Just as I sat down to write this, I received a message from a friend and former colleague, saying: “I’ve had the ignominy of having to learn about digital marketing. No money in high-end content and media coverage, any more!” However, in other respects, the consultants were telling a tall tale.

The generation that was growing up with social media in 2010 did, in fact, care about privacy. A survey conducted in 2023 by the Washington-based Portulans Institute found that among millennials, 67% are concerned that their personal financial information will be hacked, and 75% are worried about how their location data will be used.

Wouldn’t it have been great if the generation growing up in the 2010s could have had a seat at the table when social media platforms were being created? Similarly, what if the generation that will use AI throughout their working lives has a voice in how AI should be adopted in our profession?

The CII’s New Generation Broking Group has done just that. They feel the urgency of getting to grips with AI just as keenly as we felt the FOMO of social media twenty years ago. The reality for them is a tough one: if they invest in AI now, it’s expensive and risky; if they wait, they risk falling behind, and possibly paying more in the long run. Early adoption could be crucial for those smaller firms that are nimble and tech-savvy.

They also see the potential benefits of AI, including improved access to services and better analysis of internal and external risks. But they also recognise the limitations of AI, urging brokers to consider carefully the ethical implications of using AI in their operations.

They end on a note of cautious optimism, flagging the many benefits surrounding AI, while acknowledging its weaknesses. This interplay of promise and challenge will likely continue as this technology evolves.

So, if anyone tries to tell you that AI can be used indiscriminately because the future belongs to a generation of AI natives that laughs in the face of risk, show them this report.

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