Will AI replace Actuaries?
Estimated risk score: 73 out of 100
High replacement risk
Estimate from published task research, not reviewed by a person · how we estimate
Within about 19 points for 4 in 5 of the jobs we checked (54 to 92).
For the occupation as a whole, from ratings of its 15 O*NET tasks published in 2023 and calibrated to our hand scores. A specialty inside it can sit higher or lower.
O*NET-SOC 15-2011.00 · Computer and Mathematical
Tasks rated in 2023 as ones AI could do or speed up
Tasks a GPT-4-class model could do, or do in half the time or less: 8 of its 15 rated tasks; the first 6 are shown. In O*NET’s words.
- Analyze statistical information to estimate mortality, accident, sickness, disability, and retirement rates.
- Ascertain premium rates required and cash reserves and liabilities necessary to ensure payment of future benefits.
- Construct probability tables for events such as fires, natural disasters, and unemployment, based on analysis of statistical data and other pertinent information.
- Design, review, and help administer insurance, annuity and pension plans, determining financial soundness and calculating premiums.
- Determine equitable basis for distributing surplus earnings under participating insurance and annuity contracts in mutual companies.
- Determine policy contract provisions for each type of insurance.
Tasks rated in 2023 as not sped up by AI
Tasks such a model was rated as not speeding up or taking over: 0 of its 15 rated tasks. In O*NET’s words.
None of its rated tasks.
What the job is
Analyze statistical data, such as mortality, accident, sickness, disability, and retirement rates and construct probability tables to forecast risk and liability for payment of future benefits. May ascertain insurance rates required and cash reserves necessary to ensure payment of future benefits.
Also called: Pricing Actuary, Consulting Actuary, Life Actuary, Health Actuary, Annuity Analyst, Actuarial Intern, Enrolled Actuary, Corporate Actuary.
Closest jobs we score by hand
In the same field (Computer and Mathematical). Different jobs, each scored by a person.
Source. This site includes information from the O*NET 30.1 Database by the U.S. Department of Labor, Employment and Training Administration (USDOL/ETA). Used under the CC BY 4.0 license. O*NET® is a trademark of USDOL/ETA. USDOL/ETA has not approved, endorsed, or tested these modifications. (O*NET, CC BY 4.0.) Task ratings: Eloundou, Manning, Mishkin and Rock (2023), “GPTs are GPTs: An Early Look at the Labor Market Impact Potential of Large Language Models”, data used under the MIT licence (licence texts). Our change: we averaged the ratings over this occupation’s tasks and calibrated them to our 0–100 scale. It is not a prediction about any one person and not career advice. Disagree? Write to hello@yourstopwashit.com. How we estimate