We are working with an artificial intelligence (AI) specialist company to develop coding to perform quality assurance (QA) checks on pension administrators’ calculations.
This adds to our current suite of data science expertise where we use programming languages to produce results for clients.
Examples include:
- undertaking a research survey and interviews for the Financial Reporting Council on the use of AI and machine learning in UK actuarial work
- creating interactive dashboards to help inform strategic and investment decisions and to help with analysis and technology
- devising a modeller to support clients as they work towards equalising pensions for their members
- developing a ‘retirement calculator’ to help public service pension scheme members following the McCloud legal ruling
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Further AI
This latest project involves the Government Actuary’s Department (GAD) working with an AI partner to investigate fine tuning a large language model so that it can solve a specific problem.
The model will read and interpret regulations and use these to write code that can perform quality assurance checks on pension administrator calculations.
Actuary Chris Daniels, GAD’s Head of the Analytical Solutions Team said: “This partnership will enable us to enhance our AI skills so that we can help our clients solve complex problems in an efficient manner.”