Chris Paterson at the Government Actuary’s Department explains its research on how actuaries in the UK are using AI and machine learning techniques, and how you can get involved.
I’m working for the Government Actuary’s Department (GAD) on a Financial Reporting Council (FRC) research project to find out how actuaries in the UK are using artificial intelligence (AI) and machine learning (ML) techniques.
I have used these techniques, both in GAD and beforehand, so I welcome this survey and look forward to seeing the results. If you work in this area you will know the challenges of this work within an actuarial framework. I hope this gives you an incentive to complete the survey (and get access to the results summary).
GAD is supporting the FRC with a research project on the use of AI and ML techniques in actuarial work. It will address the following 4 areas of enquiry:
1. Areas of use: Which actuarial departments are involved in using AI and ML techniques in their work?
2. Approach: What approaches and techniques are used? How are they selected?
3. Governance: What is the governance process around the use of AI and ML techniques as compared to the governance process around the more traditional techniques?
4. Output: How do the areas of use, approach, and governance of AI and ML impact on:
There are 2 ways actuaries can get involved in our project:
For the initial phase of this project, we are asking actuaries in the UK to help inform this research and complete a 20-minute survey on AI and ML in actuarial modelling.
There is no deadline for the survey but an early response would be valuable.
All information, views, and opinions shared will be fully anonymised by GAD in any reporting of the research findings.
As an incentive to take part, those completing the survey will receive a high-level summary of the results enabling you to compare your views with the rest of the actuarial community.
The second phase of the project will be carried out through interviews with actuaries who either work with data scientists or actively use AI and ML techniques as part of their actuarial work.
The interviews will be conducted by GAD professionals and, as with the survey, all information, views, and opinions shared will be fully anonymised in any reporting of the research findings.
If you wish to be considered for an interview you can fill out the survey or get in touch by emailing us at AI.MLSurvey@gad.gov.uk.
