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IFOA AND CISI PARTNER TO ENHANCE ACTUARIES’ ETHICAL AI SKILLS

by Muna Abdi
July 22, 2024
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IFoA and CISI partner to enhance actuaries' ethical AI skills
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The Institute and Faculty of Actuaries (IFoA) is collaborating with the
Chartered Institute for Securities & Investment (CISI) to enhance actuaries’
understanding of ethical issues in artificial intelligence (AI).

This collaboration allows over 32,000 IFoA members to study for CISI’s
Certificate in Ethical AI. It was launched in November last year, as part of
CISI’s drive to promote ethics and transparency in artificial intelligence, and
was developed with strong involvement from Lord Mayor Michael Mainelli’s ethical
AI initiative.



Since its inception, almost 300,000 worldwide financial services practitioners
have been given the opportunity to improve their abilities in AI ethics and
transparency through CISI cooperation.

The Financial Services Skills Commission (FSSC) recognised machine learning and
artificial intelligence as priority future skills for the UK financial services
sector, and CISI’s digital CPD programmes target all 13 of the FSSC’s listed
capabilities.



IFoA president Kalpana Shah says: “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.”

CISI chief executive officer Tracy Vegro OBE says: “We are delighted to announce
this partnership with the IFoA and to welcome actuarial professionals to the
CISI AI learning and development community. As the leading global professional
body qualifying, supporting, and championing actuaries, the IFoA member risk
management and analytical skillset is evermore crucial in a world of business
and geo-political uncertainty. 



“Technology and trust must go hand in hand and ethical frameworks are essential
for AI development, supported by industry-wide skills and training. Responsible
deployment of these technologies is central to the agenda.”

Lord Mayor Mainelli says: “The buildout of the CISI’s ethical AI initiative, a
core part of the overall Connect to Prosper Mayoral programme this year, across
our alphabet of professions – accountants, now actuaries, bankers and so on – is
evidence of the key role that this technology is playing in any economic
development. In Britain, our new government has characterised high, durable, and
inclusive growth that respects the environmental limitations of our planet as a
“national mission.” Bringing ethical issues to the centre of any business,
professional or political decision on the deployment of generative AI is a key
step towards enduring success on this project.”






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   * DB
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   * Master Trusts
   * Sipps & SSAS
   * Taxation
 * Group Risk
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   * Musculoskeletal
   * Mental Health
   * IPT
   * Wellbeing
   * Trusts
   * Cash Plans
 * Wellbeing
   * Mental Health
   * Health & Wellbeing
   * Financial resilience
 * ESG



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