WG Data Science and AI

Terms of reference

Scope: Communicate, investigate, prepare and educate for a smooth transition and integration of Data Science & Artificial Intelligence into the pillars of actuarial work.

 I.  Communicate: A link between the institute and external parties.
        - Regulators (e.g. EIOPA, BNB, FSMA).
        - Actuarial associations / institutes (e.g. IAA, AAE).
        - Universities and research institutes. 

II.   Investigate: How AI and DS will change the actuarial fundamentals (Pricing, Reserving, Solvency).
        - Investigate (research) Mathematical Modelling using e.g. topological aspects and extension of probability measures with the aim to make justifiable use of them in actuarial work. 
        -  Impacts of IT developments. 
        -  Integrating 'uncertainty' in DS for explicit use by actuaries.       

III.  Prepare: Evolution of the role of the actuarial profession with respect to Data Science & Artificial Intelligence.
        -  Reflection on what an actuary is expected to do versus a data scientist. 
        -  Right balance skillset between IT, Statistics & Business.
        -  Assure appropriate integration of the core actuarial pillars activities (pricing, reserving, capital) in DS & AI environment. 

IV.    Educate:
        -   Trainings program at IA|BE (data science related).
        -   Program of universities.
        -   Links to Open Sources (e.g. Python, R)


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