First of all, let’s bust a myth. Machine learning won’t be able to take the place of people when it comes to the work of Actuaries, but it should be seen as a way towards making the work of Actuaries more convenient and efficient. Nevertheless as we have discussed earlier, Machine learning is a process where a computer learns to respond to a situation just as a human would do. To add on, Machine learning has only increased the ability to reach a much wider audience, with much more information and responsibility coming in. Actuaries will only advance by improving their skills gradually with the help of Machine Learning, thus it’s more important to look at the relationship between Machine Learning and Actuaries as how both of them could improve through time.
Now we can say that we are not living in the wild west, where soon humans will be hunted down by machines. In fact, we use them almost every day in every small errand that we need to do. No matter which field of study you choose, Machine Learning has already made a huge impact on how things work.
The level of dependency we have on machines is nothing new to address and will be going a lot more as time passes. Which is why, I would suggest that sit back and enjoy the ride with machines. Oh yes, not to forget, keep patiently waiting for your own R2-D2 with your fingers crossed while Google becomes smarter every minute.