Analysis

Briefing: New rules put AI in its place for actuarial use

By 2024-10-10T08:00:00

AI

After January 2024’s introduction of an industry-wide code of conduct for the use of AI in the claims sector, the actuarial industry is now following suit thanks to a regulatory update

There has been much debate over the use of artificial intelligence (AI) within the insurance sector – and none more so than in the actuarial sciences.

The rise in generative AI – instigated by the introduction of ChatGPT in 2022 – has brought with it a challenging juxtaposition between the benefits that the technology can bring and the risks it may pose for insurers.

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