Question

Thoughts on Actuarial Science?

Answer 1

Work requires more flexibility than exams

Answer 2

I used it to help me study for exam P just recently. I would copy and paste the question from coaching actuaries, and it would roughly define the terms in the question correctly and give some hints about the process of solving it but the answers it gave were wrong pretty much 100% of the time. It was horrible even st general probability questions, like questions about the probability of drawing certain cards from a deck. So yeah, I think in the immediate future it will be a good tool but that’s it.

That said, this made it really useful for studying because it would give me hints without actually answering the questions.

Answer 3

Wonder how it would do on the module essays

Answer 4

Everyone here realizes that ChatGPT doesn’t actually know what it’s saying right? It’s a language model; based on what you prompt it, it will try to recognize patterns from the text it was trained on that seem to line up with the prompt and just regurgitates that back to you.

Like, even with stuff that’s just memorization, if you throw in a couple quirks to the prompt it’ll make silly additions to its answer that only sound good to people who don’t actually know.

Actual AI that is actually intelligent will be a threat to knowledge workers. Language models will not be. ChatGPT would actually be one of those things that adds value rather than replaces workers: i could see the bulk of memo’s being written by ChatGPT and then the actuaries just have to edit the wording to remove the silliness rather than write the whole memo from scratch.

Answer 5

I gave it 10 questions from my course in probability theory, it only got the correct answer once and the reasoning was wrong, leading it to wrong answers in the other 9 questions

Answer 6

Humans are biological forms of AI, at the very least computerized AI has the theoretical capability of doing anything a human can do at the bare minimum. It is very likely that yes, our jobs will be replaced and probably pretty soon, but so will everyone else’s, doctors, lawyers, plumbers, CEOs, etc…

I know we’re all feeling anxious about our careers but this transcends just actuaries. If the boat goes down we’ll go down together!

On a side note, I think we as a society are probably going to have to come to terms with either heavily regulating the usage of AI or live in a society similar to Wall-E

Answer 7

I just want to point out that right now ChatGPT might be wrong

But the ability to give an answer may show it later will be able to give the right answer

AI has gone a long way and this is the start of it being useful. Right now it may have high-school writing but the for the future it may be an invaluable tool to all of us. It is growing and gaining more and more knowledge by the day.

The new version of ChatGPT they are touting it close to 50 times more knowledgeable. Be carefully tossing it aside, I truly believe AI is my generations internet.

It will be used everywhere and by everyone. I have been utilizing it for a lot of things and I think you guys should atleast be checking it out. See what you can do on it because getting a head start on it now may be what keeps you on the job over somebody else.

Answer 8

Great, go to court with ChatGPT as your lawyer then and tell me what happens. Actuaries should know this:

Exams =/= Work

Answer 9

There isn’t that much free material online the ChatGPT Can draw from for actuarial. Most knowledge is learned through textbooks and online courses which you have to pay to access. Plus it’s knowledge is limited to 2021. If we increase the online knowledge and increase the exposure, in some future day, it could pass an actuarial exam.

Answer 10

Nothing to worry about. I tested it out and asked Chatgpt to go some simple calculations but most of them were incorrect and the overall results were inconsistent