By leveraging XAI, actuaries can assist in transforming AI from a compliance requirement into a driver of innovation
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Artificial Intelligence has quickly become a cornerstone of innovation in insurance, offering transformative potential in areas like underwriting, claims management, and risk assessment. But as AI systems grow in complexity, one critical challenge has surfaced: the ability to explain how decisions are made by AI. Enter Explainable AI (XAI)—a vital tool not only for regulatory compliance but also for fostering trust among customers and stakeholders.
Disclaimer:
This article represents the opinion of the authors, and not necessarily the opinion of the AAE.
This article was published in The European Actuary No. 40 – December 2024
