EAA Web Series "Selected Masterpieces": Innovative Products Utilizing AI and Machine Learning Opport

Is Data Science a means to an end or just the end in itself? With more and more Machine Learning methods, frameworks and automatized Knowledge Discovery (aka Data Mining), more often than not actuaries can easily get the impression that everyone is using new techniques simply because they happen to be available. Alas, reinventing the wheel to drive the same cars on the same roads is probably not the end of the story.

In this web session, we give an overview why and how the new methods and paradigms subsumed as "Actuarial Data Science" will change the business landscape in the insurance industry - and what are the caveats specific to these particular applications. Join in to learn

• the close connection between new methods and new data sources and why just one of them is not enough to turn a profit
• a critical look at (probably?) overhyped concepts and their realistic potential
• why agile development is not a requirement of Data Science, but a consequence