Generative AI comes to the actuary program: Introducing PCAI

How is AI changing the actuarial profession — and is the qualification program keeping up? 

Generative AI (GenAI) is reshaping the way actuaries work, and the Actuaries Institute is embedding it at the heart of the Actuary Program. From Semester 2, 2026, every General Member entering the qualification pathway will develop practical GenAI skills as part of their core education. 

To find out what’s changing and why it matters, author of the new GenAI chapter Amanda Aitken sat down with Jenifer Walton, Chief Examiner of the CMP subject.

Amanda: Jen, we hear the subject CMP is getting a new name. Can you tell us what’s behind the change to Professionalism, Communication and AI in Practice (PCAI)?

Jenifer: The new name reflects two important shifts. First, we’ve placed Professionalism at the front of the name. That’s deliberate—it signals that professional and ethical practice is the foundation of everything actuaries do, including how we use technology. Second, the addition of ‘AI’ highlights the significant new content we’re introducing on GenAI. We wanted the name to make it clear that this subject is evolving with the profession.

Amanda: And what prompted the decision to integrate GenAI into this particular subject rather than, say, creating something entirely new?

Jenifer: CMP is a subject that every Actuary Program student completes, so embedding GenAI here means every future actuary will develop these skills—it’s not optional. It also makes sense thematically. Professionalism, communication, and model governance are all directly relevant to how we should use GenAI tools. The way you craft a prompt, evaluate output, or decide whether to use AI at all—these are professional judgement calls. They fit naturally alongside the existing content.

Amanda: Can you give readers a sense of what the new GenAI content will cover?

Jenifer: The new chapter covers three main areas. It starts with a grounding in how GenAI models actually work, how large language models generate text and how diffusion models create images and other content. Members don’t need to become machine learning engineers, but having a solid conceptual understanding will help them use these tools more effectively and critically.

From there, we move into the ethical and safe use of GenAI. This is where we cover the benefits, limitations, and risks of these tools, privacy and security considerations, and how the Institute’s Code of Conduct applies when you’re using GenAI. Members will also learn to evaluate GenAI outputs for potential biases—a critical skill given the trust that stakeholders place in actuarial advice.

The third area is all about effective use, the practical skills. This includes choosing the right tool for a given task, applying techniques for instructing GenAI tools to get better outputs, actively engaging with those outputs rather than accepting them at face value, and evaluating the quality of the results through fact-checking and comparison with existing knowledge.

The emphasis throughout is on practical application, we want members to finish this subject feeling confident about integrating GenAI into their day-to-day work.

Amanda: How will members be assessed on the GenAI content?

Jenifer: Assessment in PCAI is split between a mid-semester presentation and an end-of-semester examination. The GenAI topics may feature in either or both. For example, in the presentation, members may be asked to demonstrate how they’ve used GenAI tools in their workplace or study, showing not just that they can use these tools, but that they can reflect on the process, evaluate the outputs and communicate their approach to an audience.

In the examination, we assess members’ knowledge of the learning objectives in a written format, including their ability to apply the tools in specific actuarial contexts. For example, a member may need to evaluate some GenAI-generated output for accuracy and bias or explain how the Code of Conduct applies to a particular use case. It’s about testing both understanding and professional judgement.

Amanda: What excites you most about these changes?

Jenifer: What excites me most is that every actuary coming through the qualification pathway will now have a shared foundation in using GenAI effectively and professionally. These tools are already transforming how actuarial work gets done—from drafting reports and reviewing assumptions to analysing data and preparing for stakeholder meetings. By teaching members how to use them well and just as importantly, how to use them responsibly, we’re helping them add value from the very start of their careers.

I’m also pleased that we’ve designed the content to focus on principles and professional judgement rather than specific tools or platforms that change rapidly. This means the learning will remain relevant as the technology continues to evolve.

Amanda: Any message for members and employers who are reading this?

Jenifer: To members, this is a genuinely exciting addition to your education. You’ll come away with practical skills that will make you more effective in your current role and more attractive to employers. The content is designed to be hands-on and relevant, not just theoretical.

To employers, the members who complete PCAI will have a solid grounding in using GenAI tools responsibly and professionally. They’ll understand not just how to use these tools, but when to use them, when not to, and how to evaluate the quality of what they produce. That’s the kind of capability that benefits whole teams.

Amanda: This all sounds fantastic for members. But what about actuaries who have already qualified, will they be able to access this content too?

Jenifer: That’s a great question, and one we’ve been hearing a lot. GenAI is relevant to actuaries at every career stage, and we want to ensure that qualified members can also build these skills in a structured, professionally grounded way. We will be adding the content to the AI & Data Science Learning Resource soon.

All members can access the AI & Data Science  Learning Resource — a free, comprehensive resource. Curated principally by YDAWG members, it brings together over 100 articles, videos, podcasts and courses tailored specifically to actuarial professionals. Whether you’re just getting started, or looking to deepen your understanding in any aspect of AI or data science, it’s a great place to begin.

The updated PCAI subject will be available from Semester 2, 2026. Members can view the full syllabus here.