Workshop B1: Generative AI: the biggest transformation since desktop computing
This session will illustrate the transformative potential of generative AI. It will do this through a range of concrete AI use cases, showcasing a wide range of powerful applications seen in this field. Most discussion of large language models (LLMs) focuses on their ability to write essays or computer code, which is impressive but less relevant to actuaries. Instead, this session will examine how LLMs can be augmented with insurance domain knowledge and be integrated into processes to accelerate actuarial modelling and financial reporting. This presentation will build on earlier versions presented at CILA and the Society of Actuaries, Ireland, with a wider range of practical insurance-related use cases. It will outline the workings of the LLMs that underlie tools like ChatGPT and Github Copilot. Given the rapid advances in this field, it will also provide an update on other leading AI models advances (that is, ‘non-ChatGPT’ models). It will discuss the pros and cons and potential future capabilities of these models. The agenda will cover: introduction to LLMs; AI use cases; expert systems; documentation generation; writing code; model translation; what’s new in 2023 ‘Q3.5’?
