This video, led by actuary and AI practitioner Igor Nikitin, explores the practical challenges and risks of using generative AI tools like ChatGPT in actuarial and professional settings. It categorizes key concerns into privacy, misinformation, recognizable AI-generated content, and cost implications. Through real-world examples, the course highlights how AI can blend outdated or conflicting guidance, fabricate credible-sounding information, and produce outputs that compromise professionalism and accuracy. Participants will learn techniques to identify and mitigate AI hallucinations, reinforce the necessity of human oversight—particularly the role of the “Actuary in the Loop”—and assess cost-effectiveness before implementing AI solutions at scale.
Contributors: Igor Nikitin, ASA, MAAA; Tom Callahan, FSA, MAAA; Scott Allen, FSA, MAAA; Jon Forster, ASA, MAAA