IAA Releases Paper on Professional Considerations for Actuaries Interacting with Artificial Intelligence 

The International Actuarial Association (IAA) is pleased to announce the publication of the paper Professional Considerations for Actuaries Interacting with Artificial Intelligence. The paper, developed by the IAA’s Artificial Intelligence (AI) Task Force, is intended to support actuaries who develop, validate, or use AI systems and AI models in the performance of actuarial services. It is structured to offer practical questions and prompts designed to encourage professional judgment and thoughtful consideration of AI-related issues in a wide range of actuarial applications. 

The paper provides a framework of professional considerations to help actuaries fulfill their professional obligations when interacting with AI systems and AI models, and it highlights areas that actuaries may wish to consider. These areas include AI model development, interpretability and explainability, bias mitigation and fairness, data privacy and security, accountability and responsibility, effective communication of AI insights, collaboration with AI experts, and continued learning and adaptation.   

Recognizing the expanding role of AI across actuarial practice, the paper emphasizes that actuaries retain professional responsibility for their work products, including those produced with the assistance of AI. It encourages actuaries to consider the appropriateness, reliability, transparency, and governance of AI systems, while remaining mindful of applicable laws, regulations, professional standards, and ethical obligations. This work will accordingly be updated as the field of AI evolves and develops. 

The papers are available on the IAA website under KNOWLEDGE / PAPERS.   

This activity supports the IAA’s mission and strategic objectives to serve the public interest by providing key international organizations with actuarial expertise on issues of global relevance, and to support the development of the actuarial profession worldwide and promote appropriate professional standards through Member Associations. 

To learn more about the work of the IAA on this topic, contact the Director of Technical Activities at the IAA Secretariat.