Partnership provides ethical AI training for actuaries

The Institute of Actuaries (IFoA) has partnered with the Chartered Institute of Securities and Investment (CISI) to improve actuaries' understanding of the ethical issues surrounding artificial intelligence (AI). The partnership will give IFoA's more than 32,000 members the opportunity to achieve CISI's Ethical AI certification.

CISI's Certificate in Ethical Artificial Intelligence, introduced last November, aims to promote ethics and transparency in the use of AI. The initiative is part of Mayor Michael Mainelli's (pictured centre) programme and was developed with significant input from the project steering group.

Since its inception, the certification program has provided approximately 300,000 financial services professionals around the world the opportunity to enhance the ethical and transparent use of AI through a variety of collaborations.

The Financial Services Skills Council (FSSC) recently identified machine learning/AI as a key future skill for the UK's financial services sector, and CISI says its Digital Continuing Professional Development modules address all 13 future skills outlined by the FSSC.

IFoA Chair Kalpana Shah (pictured left) commented: “We are pleased to partner with CISI to deliver this ethical AI training. While many of our members are already working with AI, it is important that all actuaries grasp both the potential and impact of AI.”

“We want to help our members build their AI expertise in a variety of areas, including enhancing analytics, improving processes, providing oversight and ensuring ethical use while avoiding bias. This course will be a valuable addition as we continue to build out our AI-focused learning offerings for our members.”

Welcoming actuarial professionals to the AI ​​learning and development community, CISI Chief Executive, Tracy Vegro OBE (pictured right), said: “As the world’s leading professional body for credentialing, supporting and advocating for actuaries, the risk management and analytical skillsets of IFoA members are more important than ever in a world of business and geopolitical uncertainty.

“Technology and trust must go hand in hand and an ethical framework, supported by industry-wide skills and training, is essential for AI development. The responsible deployment of these technologies is at the heart of the agenda.”

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