Actuaries without Artificial Intelligence or Artificial Intelligence without Actuaries

Artificial intelligence is one of the hype topics in actuarial sciences that has even attracted public attention. This is due to many reasons (such as the attractive wording used in artificial intelligence, the stylish graphs of neural networks, and the easy use of pre-implemented open source software), but not necessarily to widely accepted break throughs in the actuarial applications. 

However, still there is a kind of public belief that artificial intelligence can substantially replace the work of actuaries.  On the other hand, many actuaries are still sceptical about the use of artificial intelligence at all. In the talk, we will have a detailed view at the relationship between actuaries and some methods of machine learning, give a critical appraisal of their usefulness and will also motivate actuaries to try out such methods and decide which ones to use in their daily business.

Tags: Artificial Intelligence (AI), natural intelligence, automated decision-making, EU-Commission, actuary, risk, uncertainity, asset management, information system, liability management, valuation skils, complexity, parameter calibration, stochastic, generalization, deep learning, data science, enormous computing power, General adversarial nets, generative nets, deep optimal stopping, attractive tools, subjective choice, image recognition.