PART 2 | ARTIFICIAL INTELLIGENCE II The insurance industry is one of the areas which have been highly disrupted by the emergence of artificial intelligence. For example, the underwriting process, which involves assessing the risk of insurance applicants and determining whether to provide insurance, has been predicted to become signicantly faster as machine and deep learning models, powered by a dramatic increase of consumer data, facilitate the automation of the process. The following articles address this disruption in detail: a o McC anua 2 17. o Balasubramanian, R., A. Libarikian, 3: D. McElhaney, \"Insurance 2030 The impact ofAI on the future of insurance\Department 01' Emnomlcs Question 6 | [10 marks, max 200 words] Consider Angela who currently works as a data scientist with machine learning expertise. Recently, she was offered a job by Bruno's firm. The job offer includes a higher salary than her current job and the freedom to choose the number of work hours per day. But Angela is also an amateur musician who desperately dreams of becoming a professional one day. This motivates her to practice music as much as possible, which makes her value her free time very much. Using the model of individual choice, and assuming Angela accepts the job offer, graphically illustrate the impact on her choice of free time and consumption. Fully label your diagram. Note that there are no actual numbers given in this question: you may make them up or simply use appropriate notations. Explain specifically its impact on the following: o Angela's choice of free time o Angela's consumption level 0 Angela's utility level