The role of looking into possible threats to the stability of the financial sector is an exciting one for the mathematically inclined. This is the world of actuaries. Actuaries play an important role in the financial planning industry. Without such professionals to monitor and anticipate changes and consequences of financial risk, challenges such as the world wide recession of 2008-2009 can cause irreversible and even more devastating damages. With such an impactful role it is pertinent that the assessments and projections made are accurate and in the 21st century, technology exists to help ensure this. It is relevant to note that technology has had such an   impact on the workplace and society that Oxford researchers have projected that within the next twenty years, forty five   percent of occupations in America will be automated   [   (Rutkin, 2013) ]. This seems unimaginable as professionals such as Actuaries seem irreplaceable. Thus, although actuarial work has progressed and diversified, it has not escaped the positive as well as negative impacts of technology which raises the question of whether or not actuaries will remain relevant despite increased automations.
Historically, the Actuarial role has required the design and creation of innovative ways to decrease the possibility and possible impact of unfavorable events especially those relating to insurance as well as pension programs. This significant function portends that Actuaries are in demand in financially focused businesses including insurance, employee benefits and consulting. The risk-assessment function helps businesses by fostering growth since managers and business leaders are equipped with information that can inform strategic decisions based on a clear understanding of possible risks. This allows them to anticipate the future with greater confidence.
Although the insurance industry has traditionally been the main employer of actuaries, other industries employ their services. Quite reasonably,...