This paper aims to provide educational material that helps actuaries in safeguarding responsible artificial intelligence (AI), while raising awareness of the risks that need to be managed when designing, developing, implementing and using AI models and AI systems. Actuaries have long been at the forefront of managing uncertainty, utilizing a combination of skills in areas such as probability theory, advanced mathematics, statistics, economics, finance and, importantly, professionalism. As key players in decision-making within the financial industry and the field of social protection, actuaries’ concerns about managing risks appropriately and contributing to societal well-being have become even more relevant with the rise of AI. AI is no longer an emerging topic; it has already found a place within the actuarial profession, particularly in data analytics, predictive modelling and risk management, and its impact on actuarial practice is only bound to grow. Given the distinctive nature of the actuarial profession – encompassing technical skills, ethical standards and professionalism – actuaries are well positioned to contribute to the development of AI systems and to oversee their principal’s overall approach to AI.
