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RSS and IFoA partner on data science

The practical application of data science is quickly moving from the frontiers of the profession to the mainstream. Today we are delighted to announce a partnership that will further develop the skills and expertise necessary for the profession to grasp the opportunities that the field of data science represents.       

RSS- IFoA Joint Statement

The Institute and Faculty of Actuaries (IFoA) and the Royal Statistical Society (RSS) are delighted to announce plans to collaborate on the exploration of the practical and ethical implications in the rapidly developing field of data science.

We believe that this partnership is especially relevant, drawing on our respective expertise, experience and strong professional values in the application of numerical science, twinned with a shared overarching commitment to the public interest.

This exploration will initially focus on a series of workshops in Manchester, London and Edinburgh for data science practitioners and those considering becoming practitioners. The London workshop is supported and hosted by the Alan Turing Institute.

The workshops’ initial outputs are to be published in the autumn, to be followed by practical guidance for practitioners.

We are grateful to all of the members of our respective working parties who have helped in making this collaboration possible, not least, Trevor Llanwarne (member of the IFoA Methods, Analysis and Insight from Data (MAID) working group and RSS Treasurer).

Marjorie Ngwenya, IFoA President, said:

“We are truly delighted to be partnering with the Royal Statistical Society on exploring the far-reaching impacts of data science. By fully exploring the implications of this emerging field, we ensure that the actuarial profession remains fit for the future”

Professor Sir David Spiegelhalter, RSS President and IFoA Honourary Fellow, said:

The RSS is very pleased to be working with the IFoA to explore the implications of data science for our respective professions. As the use of data in society proliferates, we must ensure practitioners are competent and trustworthy in how they use data, in order to guard the public interest. Professional bodies have an important role to play here” 

The IFoA and data science

The IFoA MAID group has led the way in developing the Actuarial application of data science; an outstanding example of the strong collaborative and leading-edge professional skills IFoA Members bring to fast-emerging and potentially transformative fields such as data science.

Michael Tripp, MAID Chairman, said:

As the world of technology and data changes so fast it is critical that actuaries learn and adapt so their ideas and solutions are always based on up-to-date techniques – their ability to helicopter over vast business systems and yet be mindful of the detail in a professional environment is unique. The IFoA’s MAID Data Science working party has helped the profession move the subject from behind the scenes into its bloodflow so qualification routes, CPD, regulation and general positioning are now actively developed.

There is much more to do and we cannot do this alone – the intellectual challenge of keeping up with the maths/logic and ethical thinking challenges offers an obvious area for cooperation and we are delighted that the RSS see the same scope for partnering.”

Take part in the RSS-IFoA data science workshops

You can take part in the RSS-IFoA data science workshops by signing up at the event pages:

Join the Data Science Conference Programme Committee

As well as supporting the three forthcoming joint workshops, we are building a Data Science Conference Programme Committee to ensure that the content of our data science-focused events and conferences over the next twelve months can deliver the maximum benefit to the profession.

These volunteer opportunities are available to both members and non-members; the key qualifying factor is a strong interest in, and knowledge of, this exciting field.

Find out more about how you can take part

Help shape the RSS-IFoA joint workshops by joining our content committee.

Discover our data science resources

As part of our commitment to lifelong learning there are a range of data science resources available to ensure our members have the skills they need to thrive in this fast-developing field.  

Find out more about our data science resources