Guardian Actuarial’s Post

The Future of Actuaries: Human Expertise + AI = Success ⚡ Just watched a fascinating video on how AI is transforming the actuarial landscape. Here are some key takeaways: AI is here to empower, not replace🤖 - While AI can boost creativity and productivity, the human edge in intuition and emotional intelligence remains irreplaceable. Sharpen your soft skills! 💡 Communication, critical thinking, and problem-solving are crucial for navigating the AI era. Actuarial exams are a great foundation, but practical projects and soft skills are equally important for landing that dream job. It's all about balance ⚖ The key to success lies in leveraging the strengths of both AI and human expertise. Be a data guardian! 📊 Stakeholder management is essential for building trust and ensuring ethical AI implementation. Understanding data quality and addressing potential biases is key. Never stop learning! 📚 Continuous learning, strong relationships, and interview skills are your golden ticket to career advancement in this ever-evolving field. What are your thoughts on the impact of AI on the actuarial profession? #actuary #futureofwork #AI #FutureActuary Society of Actuaries Jeffrey Zheng Stefanos Orfanos

I took my first set of the Institute and Faculty of Actuaries exams in April, and the results just came out—I passed them all! CM1 - Actuarial Mathematics for modelling ✔️ CS1 - Actuarial Statistics ✔️ CB1 - Business Finance ✔️ It's incredible how useful these concepts are in the field of AI.

As members of the Actuaries Institute, we are all bound by the Code of Conduct. What does this mean in a world where we are venturing into new areas and using AI at work? We cover actuarial professional responsibilities in the Actuary program subject: Communication, Modelling and Professionalism (CMP). This week, CMP students heard from members of the Professionalism Committee, Stuart Rodger and Julie Evans, who guided us through two modern case studies to illustrate how to apply the Code of Conduct to actuarial work. One case study examined the use of LLMs to complete actuarial work. In breakout rooms and as a large group, we considered the professionalism considerations that could apply to us as actuaries in such a situation. In 2024, we are still in the early stages of embracing AI in our work. However, we must apply professionalism and the Code of Conduct to ensure that we use AI professionally and in a way that protects those we are serving. Thank you Stuart and Julie for giving up your Tuesday evening to help our students build their professionalism knowledge and application. If you need a refresher on the Code of Conduct you can download it here: https://lnkd.in/gF-VE8mY Mike Callan Janice J. Martin Mulcare Stuart Turner #professionalism #actuary #actuaries #codeofconduct #ai #education

Your journey in actuarial science is a thrilling adventure of discovery and impact.😰 I created this AI-generated song for all those who are passionately pursuing a course in actuarial sc. 1.Text Prompt to Song generation - Suno.ai 2.Free Video- Pixel 3.ChatGPT4 3.5 -Desc 4.Video Editing Premium-Clideo.com Lyrics- [Verse] Dreamin' big, reachin' for the sky Numbers and calculations, my battle cry Actuarial science, my ticket to the top I'm gonna make it rain, ain't never gonna stop [Verse 2] Countin' dollars, calculatin' wealth Predictin' risk, protectin' myself Actuary's the name, money's the game I'm gonna be the one with fortune and fame [Chorus] Dreamin' of a future ridin' high Mathematical equations, reachin' for the sky Actuarial science, my destiny A career that brings success and sets me free . #ActuarialScience#Actuary#Insurance#RiskManagement#DataScience#Mathematics#Finance#Statistics#CareerAdvice#ActuarialExam#ProfessionalDevelopment#ActuarialStudies#InsuranceIndustry#FinancialServices#Analytics#PredictiveModeling#QuantitativeAnalysis#FutureOfWork#BusinessStrategy#AIinFinance

What are the requirements arising from actuarial professional guidance and regulation that impact machine and deep learning models applied in practice? We aim to answer this question in a new paper “Reflections on actuarial science and the actuarial profession(al)”, which is a joint work with Mario Wüthrich and Roseanne Harris. In this paper, we survey requirements for actuarial models based on regulation and governance in the UK and South Africa and connect these with recent advances in deep learning; a summary is shown in the table below. We also discuss how actuarial education could be updated to improve new actuaries’ understanding of these areas and provide a draft syllabus that we hope can be useful for those designing new actuarial courses. Finally, we briefly mention some impacts of LLMs. An interesting finding is that, in the UK, guidance from the FRC seems to preclude any “black box” modeling procedure - it will be interesting to hear from you if you agree with that point! A link is in the first comment.

🔍💼 Big News for 𝗔𝗰𝘁𝘂𝗮𝗿𝗶𝗮𝗹 𝗠𝗼𝗱𝗲𝗹𝘀 🔍💼 👨🏫 In a recent presentation to Ambroise LAFONT, an assistant professor at Ecole Polytechnique and old friend, we had the opportunity to demonstrate the unparalleled performance of our algorithms. Ambroise scrutinized the underlying mathematical demonstration and concluded that our solutions are optimal within the specific framework of certain constraints. 📈 This validation underscores a crucial fact: MasterActuary isn't just a player in the market, but it's the sole provider of pricing models with a guarantee of optimal performance. In a landscape where excellence is the watchword, we take pride in standing out as pioneers of optimality. 💡 This recognition reaffirms our commitment to our clients, providing them with tools that exceed expectations in terms of quality and efficiency. 🚀 We are determined to continue innovating and pushing the boundaries of excellence. With this validation, we are more motivated than ever to pursue our mission of delivering top-tier actuarial solutions. #MasterActuary #Actuarial #Optimality #Performance #Maths #AI #Innovation #Leadership

This is the session that I'm looking forward to: "RISE Toolbox: Advancing Regime-Switching Models for Macroeconomic Analysis". However, all of them are worth joining. Moreover, it is online.

Here are 25 ways to study for Exam P/FM with The Actuarial Nexus: 1. Start for free. 2. Take a mock exam. 3. Analyze weak areas. 4. Set measurable goals. 5. Review formula sheets. 6. View question analytics. 7. Read a detailed solution. 8. Track progress over time. 9. Engage in social channels. 10. Learn via Course chapters. 11. Request a custom solution. 12. Start with an easy question. 13. Rank up on the leaderboard. 14. Study using spaced repetition. 15. Monitor performance by topic. 16. Benefit from automatic updates. 17. Return to bookmarked questions. 18. Review question attempts history. 19. Level up from getting questions right. 20. Choose the tool that works best for you. 21. Target a specific topic with a problem set. 22. Request any new platform feature you like. 23. Choose from hundreds of practice questions. 24. Get responsive feedback from an experienced instructor. 25. Chat with state-of-the-art AI models, customized for specific questions. All Exam P and FM products are 25% off until June 30, 2024. Student discounts may apply. International discounts may apply. Top quality at the best price. #actuarialexams #examp #examfm

Here a simple intuition how Machine Learning can enhance Causal Inference after two days of conference. The most well-known method in economics and finance for uncovering causal effects is two-stage least squares. In the first stage, a predictive model is used to predict endogenous regressors using instruments that provide a source of exogenous strong variation (predictive ML stage). The second stage involves estimating a reduced-form equation derived from a structural (theoretical/causal) model, which allows for inference of the causal effect, subject to identification conditions and other technical details.

Elated to share the publication of my text book on one of my most favorite areas within the realm of Finance, something that I learnt , taught , practiced and researched extensively... While the text book covers the subject of behavioral finance, including corporate behavioral finance in detail, of extreme interest is one of the chapters which talks about how behavioral biases are impacted by Artificial intelligence and how the subject itself evolves in the Era of AI I would like to thank one of my faculty member Rahul Chauhan, Ph.D. whose Dedication and efforts made this outcome possible... Unitedworld Institute of Management #behavioralfinance #investmentmanagement #assetallocation #portfoliomanagement #artificialintelligence