With ChatGPT hitting the mainstream, there has been a lot of talk. Some folks think it’s the much ado about nothing, some think its Skynet realized. Well we thought it might be interesting to put it through its paces so we asked it some questions. Some serious, some not so serious.
Question: Which Actuary discipline has the highest upside?
According to degreequery.com, generally, the highest-paying job with a degree in actuarial science is actuarial fellow in the area of property and casualty insurance, followed by actuarial science roles in other areas of the field, like life, health and pension1. According to US News Best Jobs, actuaries made a median salary of $105,900 in 2021
Question: What are three reasons why you should consider becoming an actuary:
1.High earning potential: Actuaries are among the highest-paid professionals in the world. According to the Bureau of Labor Statistics, the median annual wage for actuaries was $111,030 in May 2020.
2.Job security: Actuaries are in high demand and the job market for actuaries is expected to grow by 18% from 2020 to 2030. This means that there will be plenty of job opportunities for those who choose to pursue a career in this field.
3.Challenging and rewarding work: Actuaries work on complex business problems and use their analytical skills to solve them. They help businesses manage risk and make informed decisions based on data. This can be a challenging but rewarding career for those who enjoy problem-solving and critical thinking.
Question: What are three cons of being an actuary:
1.High educational requirements: Actuaries often have knowledge in a variety of disciplines and need to pass a series of exams before becoming fully qualified in their fields12. This can be a long and challenging process that requires a lot of dedication and hard work.
2.High level of responsibility: Actuaries are responsible for predicting events and managing the financial risks of certain situations1. This can be a stressful job that requires a lot of attention to detail and precision.
3.Individual work: Actuaries often work independently and spend a lot of time analyzing data and making calculations12. This can be isolating for some people who prefer to work in teams or collaborate with others.
Well those are pretty good responses. I’d be hard pressed to tell that ChatGPt wrote those responses. How about some more subjective questions.
Question: What hobbies do actuaries enjoy?
Actuaries are professionals who assess and manage the risks of financial investments, insurance policies and other potentially risky ventures. They have a diverse set of responsibilities that can make this career path interesting. As for hobbies, it depends on personal interests. Some actuaries enjoy playing sports such as golf or tennis while others enjoy reading or playing musical instruments.
Question: Are actuary’s great golfers?
I’m not sure if actuaries can golf well. Actuaries are professionals who assess and manage the risks of financial investments, insurance policies and other potentially risky ventures/ They have a diverse set of responsibilities that can make this career path interesting
Question: How many hours per year do actuary’s golf?
I’m not sure about the exact amount of time actuaries spend golfing per year. However, I can tell you that actuaries are known to have good analytical skills and are often good at golfing.
As you can see, Chat GPT starts to struggle a bit with some subjective questions. We were able to get Chat GPT to simultaneously state that they were unsure if actuary’s could golf well and state they are often good golfers.
Finally, a bit of fun.
Question: Finish this sentence: an actuary recruiter goes into a bar…
Response: An actuary recruiter goes into a bar and asks the bartender if he knows any good risks.
Question: Finish this sentence with humor: An actuary, a mathematician, and a statistician go into a bar….
Sure! Here’s a joke for you:
I’m not sure what the end of that sentence is supposed to be. However, here’s a joke I found: An actuary, a mathematician, and a statistician go into a bar. The bartender asks the actuary what he wants. The actuary says “I don’t know.” The bartender asks the mathematician what he wants. The mathematician says “I don’t know.” The bartender asks the statistician what he wants. The statistician says “I’ll have what they’re having.” 😂”
Hmm its possible the office comedian might be at risk. We are not at Skynet yet, but Ii looks like Chat GPT has some real potential to be a useful innovation.