The Institute and Faculty of Actuaries (IFoA), and the Chartered Institute for Securities & Investment (CISI) have formed a partnership aimed at supporting actuaries in enhancing their understanding of ethical issues when deploying artificial intelligence (AI).
The collaboration is driven by the rapidly accelerating profile, development, and use of AI, which requires actuaries to carefully assess potential risks, apply their skills ethically, and consider the wider public interest.
IFoA members will benefit from a 50% discounted rate when signing up for CISI’s Certificate in Ethical Artificial Intelligence.
This short course addresses fundamental ethical and management issues in the deployment of AI in finance. It covers global developments in AI, regulatory responses, and AI ethical dilemmas, specifically what these mean for financial services.
The CISI launched the Certificate in Ethical Artificial Intelligence in November of last year, as part of its campaign to champion ethics and transparency in AI use.
This initiative was introduced under the ethical AI campaign spearheaded by London Lord Mayor Michael Mainelli.
The IFoA, a professional body for actuaries, provides education and research in actuarial science and offers support to its members through continuous professional development.
The CISI, a leading professional body for securities, investment, wealth, and financial planning professionals, aims to set standards of professional excellence and integrity.
Kalpana Shah, IFoA president, expressed enthusiasm about the partnership, stating, “We are pleased to partner with CISI to deliver this ethical AI training. Many of our members are already engaged with AI, but it is vital for all actuaries to grasp both its potential and implications. We want to support our members in building their AI expertise in a range of areas including enhancing analytics, improving processes, providing oversight, and ensuring ethical use while avoiding biases. This course is a valuable addition as we continue to build our AI-focussed learning offer for members.”
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