Actuarial Outpost
 
Go Back   Actuarial Outpost > Actuarial Discussion Forum > Careers - Employment
FlashChat Actuarial Discussion Preliminary Exams CAS/SOA Exams Cyberchat Around the World Suggestions



Reply
 
Thread Tools Display Modes
  #211  
Old 11-27-2017, 07:34 PM
kimjongfun kimjongfun is offline
Member
SOA
 
Join Date: Jan 2015
Posts: 739
Default

Did we discuss somewhere in this thread the threat of a ton of career changers driving down wages (especially entry level)? All of the automated accountants for example trying to find new careers might try to make a switch to actuarial
Reply With Quote
  #212  
Old 11-27-2017, 09:15 PM
nonlnear nonlnear is offline
Member
Non-Actuary
 
Join Date: May 2010
Favorite beer: Civil Society Fresh IPA
Posts: 28,100
Default

Quote:
Originally Posted by kimjongfun View Post
Did we discuss somewhere in this thread the threat of a ton of career changers driving down wages (especially entry level)? All of the automated accountants for example trying to find new careers might try to make a switch to actuarial
If your job is at risk of competition from displaced accountants, it's probably not a very good job. Which is to say, I work with a lot of accountants and the vast majority of them couldn't hack actuarial.

When accounting departments downsize, they aren't sending their best. They're sending the ones who don't care what's baked into the "rounding" line item on the invoice. ("Rounding b g" is accountant-speak for "plug", not actual rounding.) Some of them, I'm sure, are bright people. But the smart accountants tend to cultivate better exit options than years of exams.

Last edited by nonlnear; 11-27-2017 at 09:18 PM..
Reply With Quote
  #213  
Old 11-27-2017, 10:38 PM
AbedNadir AbedNadir is offline
Member
CAS SOA
 
Join Date: Mar 2014
Studying for enlightenment
Posts: 1,782
Default

Quote:
Originally Posted by snakeroberts View Post
thats debatable, exponential growth and stuff. Now What about IQ threshold. The percentage of jobs that you could do with IQ<100 in year 1880 I would think is more than today. If that continues you might have lots of jobs, but if not for genetic engineering, no one to fill those jobs.
they make more money than ever. Just look at rappers.
__________________


Quote:
Originally Posted by Colonel Smoothie View Post
Maybe, if there were some magical 4th dimension where they did their work in hypercubicles. Otherwise, I don't see them.
Reply With Quote
  #214  
Old 11-27-2017, 11:14 PM
MathStatFin's Avatar
MathStatFin MathStatFin is offline
Member
Non-Actuary
 
Join Date: Jul 2014
Posts: 4,314
Default

Quote:
Originally Posted by nonlnear View Post
If your job is at risk of competition from displaced accountants, it's probably not a very good job. Which is to say, I work with a lot of accountants and the vast majority of them couldn't hack actuarial.

When accounting departments downsize, they aren't sending their best. They're sending the ones who don't care what's baked into the "rounding" line item on the invoice. ("Rounding b g" is accountant-speak for "plug", not actual rounding.) Some of them, I'm sure, are bright people. But the smart accountants tend to cultivate better exit options than years of exams.
It's the physical therapists he must fear not the accountants.
Reply With Quote
  #215  
Old 12-02-2017, 11:37 PM
ThereIsNoSpoon ThereIsNoSpoon is offline
Member
CAS SOA
 
Join Date: Sep 2014
Studying for MLC or S? PM advice pls
College: When the smog clears, _ _ _ _
Favorite beer: PABST! BLUE RIBBON!
Posts: 391
Default

Quote:
Originally Posted by lookingon1 View Post
another concern we may have is they will ship all our boring actuarial analysis to india
bring it on boi
__________________
Spoiler:

------------------------------------------
P FM MFE C MLC VEE Economics VEE Applied Statistics VEE Corporate Finance

Want to connect on LinkedIn? PM me!
Reply With Quote
  #216  
Old 12-14-2017, 10:11 AM
kimjongfun kimjongfun is offline
Member
SOA
 
Join Date: Jan 2015
Posts: 739
Default

It'd be nice to be a c-suite executive right now. No threat of automation and it'll be the easiest time to grow earnings. Just hire an automation consulting firm and get rid of the people. Higher earnings, fewer people to manage, bigger stock grants and bonuses
Reply With Quote
  #217  
Old 12-14-2017, 03:20 PM
whoanonstop's Avatar
whoanonstop whoanonstop is offline
Member
Non-Actuary
 
Join Date: Aug 2013
Location: Los Angeles, CA
Studying for Spark / Scala
College: College of William and Mary
Favorite beer: Orange Juice
Posts: 5,649
Blog Entries: 1
Default

Quote:
Originally Posted by kimjongfun View Post
It'd be nice to be a c-suite executive right now. No threat of automation and it'll be the easiest time to grow earnings. Just hire an automation consulting firm and get rid of the people. Higher earnings, fewer people to manage, bigger stock grants and bonuses
can u plz stahp

-Riley
__________________
It is impossible to have a professional forum where the majority of your professionals are anonymous.

Map of Actuarial Hiring Companies
Reply With Quote
  #218  
Old 01-03-2018, 03:58 PM
JMO's Avatar
JMO JMO is offline
Carol Marler
Non-Actuary
 
Join Date: Sep 2001
Location: Back home again in Indiana
Studying for Nothing actuarial.
Posts: 36,600
Default

http://science.sciencemag.org/content/358/6370/1530

Interesting article on the title topic.

Excerpt on why it really is different this time, compared to the impact of previous technology (IT). ML in the quote means "Machine Learning." The "Rubric" in the quote was simply a list of characteristics of a task that make it suitable for Machine Learning.

Quote:
Jobs typically consist of a number of distinct but interrelated tasks. In most cases, only some of these tasks are likely to be suitable for ML, and they are not necessarily the ones that were easy to automate with previous technologies. For instance, when we apply our 21-question SML rubric to various occupations, we find that a ML system can be trained to help lawyers classify potentially relevant documents for a case but would have a much harder time interviewing potential witnesses or developing a winning legal strategy (16). Similarly, ML systems have made rapid advances in reading medical images, outperforming humans in some applications (17). However, the more unstructured task of interacting with other doctors, and the potentially emotionally fraught task of communicating with and comforting patients, are much less suitable for ML approaches, at least as they exist today.
That is not to say that all tasks requiring emotional intelligence are beyond the reach of ML systems. One of the surprising implications of our rubric is that some aspects of sales and customer interaction are potentially a very good fit. For instance, transcripts from large sets of online chats between sales-people and potential customers can be used as training data for a simple chatbot that recognizes which answers to certain common queries are most likely to lead to sales (18). Companies are also using ML to identify subtle emotions from videos of people.
Another area where the SML rubric departs from the conventional framework is in tasks that may involve creativity. In the old computing paradigm, each step of a process needed to be specified in advance with great precision. There was no room for the machine to be “creative” or figure out on its own how to solve a particular problem. But ML systems are specifically designed to allow the machine to figure out solutions on its own, at least for SML tasks. What is required is not that the process be defined in great detail in advance but that the properties of the desired solution be well specified and that a suitable simulator exists so that the ML system can explore the space of available alternatives and evaluate their properties accurately. For instance, designing a complex new device has historically been a task where humans are more capable than machines. But generative design software can come up with new designs for objects like the heat exchanger (see photo) that meet all the requirements (e.g., weight, strength, and cooling rate) more effectively than anything designed by a human, and with a very different look and feel (18).
__________________
Carol Marler, "Just My Opinion"

Pluto is no longer a planet and I am no longer an actuary. Please take my opinions as non-actuarial.


My latest favorite quotes, updated Oct 13, 2017.

Spoiler:
I should keep these four permanently.
Quote:
Originally Posted by rekrap View Post
JMO is right
Quote:
Originally Posted by campbell View Post
I agree with JMO.
Quote:
Originally Posted by Westley View Post
And def agree w/ JMO.
Quote:
Originally Posted by MG View Post
This. And everything else JMO wrote.
And this all purpose permanent quote:
Quote:
Originally Posted by Dr T Non-Fan View Post
Yup, it is always someone else's fault.
MORE:
Quote:
Originally Posted by Bro View Post
I recommend you get perspective.
Quote:
Originally Posted by Enough Exams Already View Post
Dude, you can't fail a personality test. It just isn't that kind of test.
Quote:
Originally Posted by Locrian View Post
I'm disappointed I don't get to do both.
Reply With Quote
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off


All times are GMT -4. The time now is 01:15 AM.


Powered by vBulletin®
Copyright ©2000 - 2018, Jelsoft Enterprises Ltd.
*PLEASE NOTE: Posts are not checked for accuracy, and do not
represent the views of the Actuarial Outpost or its sponsors.
Page generated in 0.17066 seconds with 10 queries