Fukoku Mutual Life Insurance Co: the beginning of the end of Actuaries?

[toesockshoe]

Originally Posted by snikelfritz

three masters degrees and UK credit for half the SOA exams, and this is what you think actuaries work on all day? Calculating claims payments from receipts mailed in? My interns get better work than that.

that would be a good sig line

[daaaave]

Originally Posted by SlowMotionWalter

It’s your birthday. Someone gives you a calfskin wallet. How do you react?

I wouldn't accept it. Also, I'd report the person who gave it to me to the police.

Originally Posted by SlowMotionWalter

You've got a little boy. He shows you his butterfly collection plus the killing jar. What do you do?

I'd take him to the doctor.

[Chuck]

Yes, but did they break AI Jim's 3 second world record?

https://blog.lemonade.com/2017/01/01...nt=waitlisters

[JasonScandopolous]

Originally Posted by snikelfritz

three masters degrees and UK credit for half the SOA exams, and this is what you think actuaries work on all day? Calculating claims payments from receipts mailed in? My interns get better work than that.

This constitutes intern bitch work, not actuarial work. Even if actuaries are glorified business analysts -- which I'd argue we are -- that requires human level AI to replace. As AI gets better, many jobs will be lost, but actuaries (or business analyst types) will be among the last to go.

[snikelfritz]

I can see AI hollowing out a lot of analyst type roles, I don't see the decision making roles being replaced by AI for a while yet. Once you have ~10 years as an actuary odds are pretty good you're in a decision making role of some sort.

[SlowMotionWalter]

Originally Posted by daaaave

I wouldn't accept it. Also, I'd report the person who gave it to me to the police.



I'd take him to the doctor.

[MathStatFin]

Originally Posted by JasonScandopolous

This constitutes intern bitch work, not actuarial work. Even if actuaries are glorified business analysts -- which I'd argue we are -- that requires human level AI to replace. As AI gets better, many jobs will be lost, but actuaries (or business analyst types) will be among the last to go.

The appeal of AI is precisely to improve decision making. The bitch work you're talking about is not really related to AI; it's more just your regular automation via IT systems. It's like saying automated manufacturing is AI when it's just basic electrical engineering and programming. If you pay someone to build some spreadsheets then that's not AI.

So basically saying that AI won't replace business jobs involving decision making is really just wrong since that's precisely the kind of work that AI was designed to replace.

[NormalDan]

Originally Posted by Clem Koi

http://www.nbc.com/saturday-night-li...e/n10766?snl=1

Robots pricing insurance against robot attacks, sounds like a potential conflict of interest imo

I bet the robots would say the same about our pricing of many products!

[snikelfritz]

Originally Posted by MathStatFin

The appeal of AI is precisely to improve decision making. The bitch work you're talking about is not really related to AI; it's more just your regular automation via IT systems. It's like saying automated manufacturing is AI when it's just basic electrical engineering and programming. If you pay someone to build some spreadsheets then that's not AI.

So basically saying that AI won't replace business jobs involving decision making is really just wrong since that's precisely the kind of work that AI was designed to replace.

Show me the insurance company CEO who will simply trust the advice given by an AI. AI can help, but people will be the ones making the decisions for a while yet.

[JohnLocke]

Originally Posted by snikelfritz

I can see AI hollowing out a lot of analyst type roles, I don't see the decision making roles being replaced by AI for a while yet. Once you have ~10 years as an actuary odds are pretty good you're in a decision making role of some sort.

This.

Even that will progress slowly. We still need another fundamental breakthrough or at least several small breakthroughs before AI is capable of replacing anything but repetitive tasks.