Description: In this video, Joe Long ASA, MAAA, a consulting actuary and data scientist at Milliman, explains the concept of the bias-variance trade-off and its connection to actuarial credibility theory. He demonstrates how machine learning techniques like penalized regression can help actuaries balance bias and variance in their projections, using long-term care experience studies as an example. He also discusses the broader applicability and future directions of integrating advanced analytics into actuarial practice. Contributors: Joe Long ASA, MAAA; Jess Calafell, ASA, MAAA; Jon Forster ASA, MAAA

Description: In this video Jing Lang explores the current and future landscape of AI in the insurance industry, focusing on its impact on actuarial work. She highlights the wide-ranging applications of AI in business, particularly in customer interactions and marketing activities, while also discussing its potential disruptions in the insurance sector. Despite the advancements in AI, Jing emphasizes that certain aspects of actuarial work, such as pricing and reserving, remain largely unaffected for now, but encourages proactive integration of AI tools for future adaptability. Contributors: JIng Lang FSA, FCIA, MAAA, FLMI ; Scott Allen FSA, MAAA; Henry Chen FSA, FCIA, MAAA; Jon Forster ASA, MAAA.

Description: "Artificial Intelligence can bring many benefits to the insurance business, but also many risks that need to be identified and managed. In this video, Dave Ingram FSA MAAA, a SOA Board member and host of the podcast Crossing Thin Ice, discusses some of the common applications and risks of AI for insurance operations and actuarial work. He also shares his top 10 AI risks and some tips for finding the right balance between overconfidence and fear when adopting AI. Contributors: Dave Ingram FSA, MAAA ; Chris Lombardi FSA, MAAA, and Jon Forster ASA, MAAA "

Description: This video covers the essentials of model validation and measures of accuracy in actuarial AI models. You'll learn about the steps, techniques, and tools involved in validating and measuring the accuracy of AI models in actuarial work. You'll also see a practical case study that demonstrates how these concepts are applied in a real-world scenario. Contributors: Chris Smith ASA, MAAA; Henry Chen FSA, MAAA; Jon Forster ASA, MAAA

Description: Principal component analysis is an unsupervised linear transformation mainly used for dimension reduction. Determine key numerical variables with maximum variances in a dataset, identify the correlation and removal of redundant variables are the key aspects of this exploratory data analysis.

Description: This video explains how cloud computing and APIs can help deploy AI solutions and their impact on the actuarial profession. It compares the old and new world of actuarial modelling using these technologies and discusses what actuaries should know about them. The video is presented by Arthur da Silva, FSA, MAAA the VP of Actuarial at Slope Software, a cloud-native actuarial platform.