Description: The SOA’s Artificial Intelligence Working Group explored the role of AI in actuarial practice, focusing on risk management, regulatory compliance, and ethical considerations. The discussion highlighted the importance of the NIST AI Risk Management Framework and Generative AI Profile in ensuring responsible AI development and deployment in insurance and healthcare.

Description: As data continues to become more robust and readily available, there has been a push in the actuarial field to transition away from Excel to SQL and Python native cloud-based platforms. While these platforms are widely used and powerful, they present challenges for the actuarial industry: Requiring processes to be production-ready from the onset, technical expertise for integration and robust documentation. Low-code tools provide a unique alternative solution, which works when the organization's operating model allows for actuarial and IT to work together, giving actuaries the flexibility they need while maintaining a level of control followed by the organization In this session, you will watch demonstrations that showcase low-code tools and their use case in the actuarial space. See how these low-barrier-to-entry tools can be leveraged to create robust processes. We will discuss solutions such as Alteryx and Dataiku and how low-code tools can integrate with coding languages such as Python to create more robust processes.

Description: The winner of the “most unique use of technology” prize of the 14th Speculative (and Inspiring) Fiction Contest.

Description: This session will discuss basic and advanced hedge modeling concepts. It will explain common hedge strategies used to support guarantees and options embedded within life and annuity products and the materiality of these products within the US. Attendees will learn how Machine Learning acts to reduce the computer processing needed to simulate the dynamic hedging of product liabilities projected in the future across many stochastic scenarios. Actuaries working in consulting, software development, and a large life insurance company will provide a wide range of hedging viewpoints ranging from a broad industry perspective to a hedging practitioner. Attendees will obtain a comprehensive understanding of a novel ML approach to modeling dynamic hedges and the hedge optimization opportunity it presents.

Description: This newsletter provides a regulation outlook for the use of AI/ML in insurance industry, interpretations of regulatory expectations and what insurers should consider when managing risks associated with the development, implementation and use of AI/ML models/tools.

Description: Chairperson's newsletter outlining section strategy for 2023.

Description: An overview of the basic tooling and packages available for the Julia programming language, with a focus on why this is of interest to the actuarial profession. It covers some of the built-in language features as well parts of the Julia package ecosystem that make Julia ideal for modeling and data analysis. This is the second installment in a series of article aimed at actuaries. The first installment, Julia for Actuaries, was published in the October 2020 edition of Actuarial Technology Today, and covered the base language itself, its high-level, math-friendly syntax, and why the actuary of the future should consider its adoption.

Description: This session shows the fascinating world of Generative AI, focusing on the principles of Retrieval Augmented Generation and Agentic Workflows. Attendees will gain a comprehensive understanding of how these advanced AI techniques can revolutionize processes by integrating external data retrieval with generative models. Practical examples and expert insights will illustrate the transformative potential of this technology in various industry applications.

Description: This session will discuss essential theories and practical applications of deep learning for actuaries. Participants will gain insights on leveraging these cutting-edge techniques to enhance actuarial models and drive predictive accuracy.

Description: The Actuarial Innovation & Technology Program Steering Committee (AITPSC) is seeking researchers to produce a report that discusses the life cycle of innovation and how to keep up with the increasing pace of change in our field. Research format should include interviews and case studies from across the actuarial profession.