Partnership offers ethical AI training to actuaries

The Institute and Faculty of Actuaries (IFoA) has partnered with the Chartered Institute for Securities & Investment (CISI) to improve actuaries’ understanding of the ethical concerns surrounding artificial intelligence (AI). The collaboration offers IFoA’s 32,000+ members the opportunity to undertake CISI’s Certificate in Ethical AI.

Launched last November, the CISI Certificate in Ethical Artificial Intelligence aims to promote ethics and transparency in the use of AI. The initiative, part of a program by Mayor Michael Mainelli (center in the photo), was developed with the extensive participation of a project steering group.

Since its inception, the certification program has enabled nearly 300,000 financial services professionals around the world to be offered the opportunity to improve their ethical and transparent use of AI through various collaborations.

The Financial Services Skills Commission (FSSC) recently identified machine learning/AI as a key future skill for the UK financial services sector. According to CISI, its digital continuing professional development modules address all 13 future skills outlined by the FSSC.

Kalpana Shah, President of IFoA (pictured left), said: “We are delighted to partner with CISI to deliver this training on ethical AI. Many of our members are already engaged with AI, but it is essential that all actuaries understand both its potential and its implications.”

“We want to help our members develop their AI expertise in a variety of areas, including improving analytics, optimizing processes, providing oversight, and ensuring ethical use while avoiding bias. This course is a valuable addition as we continue to grow our AI-focused learning offering for members.”

Welcoming actuarial professionals to the AI ​​Learning and Development Community, CISI Chief Executive Tracy Vegro OBE (pictured right) said: “As the leading global professional body qualifying, supporting and championing actuaries, the risk management and analytical skills of IFoA members are more crucial than ever in a world of business and geopolitical uncertainty.

“Technology and trust must go hand in hand, and ethical frameworks are essential to the development of AI, supported by industry-wide skills and training. Responsible deployment of these technologies is at the heart of the agenda.”

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