Risk
31 results found
Thinking fast and slow: improving how we understand and control the use of LLMs
LLMs may sound like careful thinkers. But beneath the surface, there is just statistical pattern-matching. Financial services firms must stay sceptical, enforce human oversight, and design for safety. By Brandon Horwitz (with some help from ChatGPT)*, Chair of the IFoA’s AI Ethics, Governance and Risk Management Working Party. This is the fourth in a series of blogs by the working party.
Black swans, flux capacity and the Isthmus of Chaos: A dynamic response to the House of Lords call for better extreme risk preparedness
To prepare for extreme risks, organisations must understand not only what could happen, but when disruption may accelerate and how fast it may overwhelm resilience.
Stress event management and Rubik’s Cubes
In this blog, David Chen, a member of the Stress Resilience Working Party, provides insight into some of the observations from the recent market stress event, which were presented at the Life Conference 2022.
From bias to black boxes: understanding and managing the risks of AI from an actuarial perspective
Valerie du Preez from Dupro Advisory Actuartech, and Richard Galbraith from Canada Life, preview their presentation to the IFoA Conference 2023
Actuaries are human too: managing behavioural risks in expert judgement
Zoe Burdo and Ed Harrison from LCP preview their forthcoming presentation at the IFoA Conference 2023
When black swans turn into gray rhinos
To introduce a new blog series on climate risk, the IFoA’s Life Climate Change Working Party explores the concepts of ‘black swans’ and ‘gray rhinos’ in a climate context.
When black swans turn into gray rhinos: part 2
The second part of the Life Climate Change Working Party’s swan blog series explores the financial and non-life risks of climate change.