Actuaries

61% (High Risk)

High Risk (61-80%): Jobs in this category face a significant threat from automation, as many of their tasks can be easily automated using current or near-future technologies.

More information on what this score is, and how it is calculated is available here.

User poll

Sentiment

The following graph is included wherever there is a substantial amount of votes to render meaningful data. These visual representations display user poll results over time, providing a significant indication of sentiment trends.

Wages

Very high paid relative to other professions

In 2023, the median annual wage for 'Actuaries' was $120,000, or $57 per hour

'Actuaries' were paid 149.7% higher than the national median wage, which stood at $48,060

Wages over time

Comments

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Alex (No chance) 7 months ago

When it comes to economics, AI has an upper hand in understanding statistics and mathematics, with that said: The general economy suffers from a 100% secure stance in economy. For that reason it's extremely unlikely that AI takes the place of an actuary.

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Frank Chang (Low) 7 months ago

Too much of actuarial work requires judgment, including commercial pricing and reserving.
If AI will be able to determine the outcome of lawsuits, actuaries might be at greater risk

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Vittorio (Low) 1 year ago

It is based on expert judgement and a holistic comprehension of technical, but also massive qualitative and strategic choices

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;P (Highly likely) 1 year ago

I don’t think AI is going to replace this job completely but def gonna lower the average salary. Some of the actuarial jobs are getting paid absurd amount of money for rather simple work lol

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JohnQ (No chance) 1 year ago

GPT 4 has failed all of the actuarial exams by a large margin.

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Harsha Rajendran (Highly likely) 1 year ago

Because it mostly involves mathematical calculations and actuarial techniques, these can only be done using computers due to the vast data. Once programmed to reckon the necessary sequence of steps required, from small to complex, inclusive of advising the stakeholders with reasonable output, decisions can be easily automated.

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Anon (Highly likely) 3 years ago

A job that’s both repetitive and centered around statistics and numbers. Easily replaceable by robots. No need to hire a human and pay such a large salary. Cuts costs massively

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human (No chance) 4 years ago

The automation of analysis and modeling is a great and useful tool for actuaries. There will always be a need for humans to study actuarial science because we will never achieve a final, perfect model (and if we did, we could let the robots take over!). To achieve a perfect model, all relevant pieces of information regarding how every individual human being will make every future decision must be known. This is obviously impossible, so sorry robots.

Because more data is being generated and analysis tools are improving constantly, the practice of improving actuarial models will be profitable for employers of actuaries. As long as actuaries continue to study and update actuarial assumptions and modeling techniques they will have a very important and well-compensated role in the workforce.

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Nearly obsolete human 1 year ago

You claim that robots will not be able to replace humans because "all relevant pieces of information regarding how every individual human being will make every future decision must be known" in order for this to happen. This does not make a lot of sense to me. Human actuaries do not have access to this information, so why would a robotic actuary need to have access to this information in order to replace humans? An AI model would not have to be perfect in order to be better than humans. For example, I suspect that chess programs do not play perfectly, but they play better than humans.

Regarding your second paragraph, I see no reason why a sufficiently advanced AI couldn't update actuarial assumptions based on new data, and it seems possible that an advanced AGI might be able to actually develop better models than humans.

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Bernard Everstein (Highly likely) 4 years ago

Its literally a job focussed around data analysis... that's what computers are for

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Kakkask 2 years ago

You know nothing about actuarial science. They have to analyze data and predict the financial risk for the future. Ever heard of dy/dx. That's what actuary does a lot in a daily basis.

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momo 3 years ago

lol I know right. People are so delusional when it comes to automation. Reminds me of the truckers saying "ai will never make the tough decisions from moment to moment"

There is no job ai cannot replace. Imagine an AI that models the human brain inside a perfect humanoid body. Why couldn't it do job x? Or are you convinced such a simulacrum could never be achieved?

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sarina tang 4 years ago

Its analysing statistical data which AI's can already do

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Mario 4 years ago

There's a lot of common sense behind it that you need someone there for

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Phil 1 year ago

Hardly, there is certainly interpretation and communication involved in the process, and there will probably always be someone to watch over it, but it will take 10 human jobs and reduce them to 1.

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Rob the Robot 5 years ago

101010101010101010101010101010101010101010101010101010101010010101010101beep beep, I would not be so sure beep boop. I am coming for your job. beep beep
101010101000110001110001001001-100101001001001010101010

1 0 Reply