Just an idea

[funmatiks]

As actuarial scientists resolve and analyse the different risks possible. When do u think the risk of computers taking over the actuarys' job will come to fruition. dont say actuaries will be the programmers, cause in this case the number of professional actuarist will be in low demand. So lets get some reply-its a cosmic question

[djerry81]

try editing your post so we can read it........think about this how many people do there jobs using computers and still cant get it done right....they need someone that understands what it all means hence actuaries never go low in demand

[wat]

As actuarial scientists resolve and analyse the different risks possible. When do u think the risk of computers taking over the actuarys' job will come to fruition. dont say actuaries will be the programmers, cause in this case the number of professional actuarist will be in low demand. So lets get some reply-its a cosmic question

It won't.

Actuaries are required not for their ability to calculate, but for their judgment in dealing with risk. Computers can calculate whatever you want it to calculate, but computers cannot qualitatively analyze what they output. One might be able to compile a program to simulate such an analysis, but I don't think there will ever be a point where a computer can completely analyze a situation like an actuary can.

[funmatiks]

thx for the reply.
but look at it this way: theoretically there will be such a super computer that will be built with processing power to utilise all those complex mathematical formulae and just basically give out info/analysis at the click of an icon. a less technical person than an actuary could just do the data entry and the computer do the analyses. this wouldnt necessarily need an actuary.

[wat]

thx for the reply.
but look at it this way: theoretically there will be such a super computer that will be built with processing power to utilise all those complex mathematical formulae and just basically give out info/analysis at the click of an icon. a less technical person than an actuary could just do the data entry and the computer do the analyses. this wouldnt necessarily need an actuary.

You're assuming all an actuary does is calculate with Excel, Access or via a programming language.

There are much more qualitative analyses done with data that a computer cannot do. A computer cannot automatically consider corporate/management decisions. A computer will only spit out what it is told to spit out.

Plus, with the movement towards Principal-Based Reserving, financial reporting will be based less on formulas (to a certain extent) and more on judgment - something computers have not yet been able to master.

If you are suggesting that a computer can qualitatively impart judgment about a set of data, then we are getting into an argument of artificial intelligence, which is not an area I'd like to delve into.

[Irish Blues]

There are all kinds of other areas that this kind of technology (if it's ever created) will be applied in before it's carried over to this field.

I'm not worried about my job being replaced by a computer who can do what I do before I retire. I have more important things to worry about.

[funmatiks]

I think all u guys r right. Its true this kind of intervention would include artificial intelegence and thus we need not worry about this in our life time. but think of this-retro into the past, back to the 16th century or so;do u blv that anyone could fathom the complexities involve in space travel, but , but ,now we certainly can. Not because we may not not be able to see it doesnt mean it will not be. But to agree with yall, we dont have to worry about that for now at least.

[funmatiks]

Irish blues guess ur an early person like myself. never thought anyone would be online so early

[angelmitra]

Should we worry about the fact that lot many persons are now trying to come to the field from other profession even at the age 48 .

[funmatiks]

no; i wouldnt be worried about that angel.At age 45 and up how much time will you have to cross over to actuarial carear. Remember the exms are difficult and require total dedication.

i woudnt worry about that.And also the demand for actuaries is high enough to absorb any crossovers if it should occur