Will Artificial Intelligence (AI) replace actuaries?
The Actuaries Institute considers Artificial Intelligence (AI) to be "one of the most transformative forces of our future, both for the actuarial profession and society, offering both immense opportunity as well as risk – especially for those who fail to understand it."
The actuarial qualification pathway prepares the next generation of actuaries for the AI revolution with the compulsory Data Science Principles subject, bridging modern analytical techniques with real-world applications, and Data Science Applications, an advanced subject that covers cutting-edge techniques like neural networks and natural language processing. The education program also includes the compulsory Communication, Modelling and Professionalism subject, ensuring ethical and effective AI model design and communication.
"Looking to the future, the essence of actuarial work remains unchanged – it’s about delivering value, not wielding tools."
For Monash students there are lots of applications and tools that use AI to give advice or create content that could be useful in their studies. Monash supports its academics and students to learn how to use AI responsibly and ethically, as well as when it is not appropriate to use AI. It’s also important for everyone to understand the risks and limitations of these technologies.
https://content.actuaries.asn.au/resources/resource-ce6yyqn64sx3-2093352434-60069