Advancements in artificial intelligence (AI) and big data are transforming traditional actuarial practices.
In an article published by InsuranceNewsNet, CRA senior consultant David Sandberg highlights that AI is driving increased efficiency, a greater focus on transparency and credibility, and a growing interest in insurtech opportunities.
Sandberg also notes that actuaries are expanding their roles to address challenges like systemic bias and the credibility of predictive models. Industry standards are evolving to guide responsible AI use, with collaboration among actuaries, regulators, and policymakers crucial for balancing innovation with oversight.
