AIRMIC MEMBERS READY TO EMBRACE AI

Millennial and Generation Z members of Airmic are ready to embrace the promise of artificial intelligence (AI), contrary to fears of AI taking jobs away – according to Airmic's latest Future of the Profession survey report, produced in association with WTW.

AI can help equip risk professionals to bring greater value to their organisations as strategic enablers. Moreover, as fears of ethical and other risks around AI grow, it will reinforce the need for human decision making and oversight, a role which risk professionals are well positioned to take up.

“We need to recognise the opportunities the future will present as well as the threats it will create. This means identifying the right skills that risk professionals need to navigate their organisations through an AI-enabled future,” says Julia Graham, CEO of Airmic.

Warnings about the potential dangers of AI have awakened governments and societies to the pressing need to regulate AI.

“Given the growing importance of the need to assess and plan for the risks created by AI and the opportunities for better assessment and planning presented by it, it is crucial for the whole profession to upskill, and to embrace and understand these new technologies and how to ethically adopt them,” says Lord Tim Clement-Jones, member of the AI in Weapon Systems Committee, a House of Lords Select Committee.

Risk profession continues to offer inspiring careers

The survey report also found how the risk profession is opening doors for individuals and positively contributes to social mobility. Of the respondents who went to university, 41% were the first person in their family to do so.

Additionally, the risk profession continues to offer inspiring careers. More than half of Airmic members have stayed with their present organisation for over five years.

“It is important that we continue to attract new and diverse talent into the risk and insurance industry. As we’ve seen from the statistics over the years, once people are in the industry, they go on to have engaging, successful and rewarding careers,” says Amanda Scott, Global Mergers & Acquisitions Consulting Leader at WTW.