Artificial Intelligence (AI) is an important global topic that is getting increased public attention. The IAA Council recently approved a Statement of Intent to launch initiatives to establish and promote responsible use of AI within the actuarial profession. As an initial step, the IAA hosted an invitation only Summit in Singapore on 4 and 5 April 2024, to bring together actuaries, and potentially regulators and AI professionals.
The key objective of the Summit is to facilitate sharing of knowledge and experience, listen, learn, and discuss how the profession should prepare and respond to the challenges for the profession in five areas (Professionalism and Ethics; Education; Changing Role of Actuaries; Governance; and Innovation). As outcomes from the Summit the IAA expects to identify and agree on the most relevant AI related issues the IAA should address under the five work streams and develop recommended actions/next steps.
Through these initiatives on AI, the IAA is looking to advance the competency of the profession with respect to AI by creating awareness of the risks and opportunities related to AI, and educating actuaries; Promote the role of the actuary in existing and emerging wider fields and raise the profile of the actuary; and Proactively engage with Supranational organizations on AI-related risks to provide actuarial perspectives in their own AI related initiatives.
actuview users can now watch the presentations and panel discussions that kicked-off this special event. A summary of the outcomes from the work streams will be shared in due time by the IAA.