Will AI replace Actuaries, Mathematicians and Statisticians in Australia?

Based on our analysis of official government data, Actuaries, Mathematicians and Statisticians has an AI exposure score of 6.4/10. This occupation faces moderate AI impact, likely through augmentation rather than replacement.

What is the job outlook for Actuaries, Mathematicians and Statisticians in Australia?

Actuaries, Mathematicians and Statisticians currently employs 12,100 people in Australia. The projected 10-year employment growth is +27.5%. The current shortage status is: Shortage.

How much do Actuaries, Mathematicians and Statisticians earn in Australia?

The median weekly earnings for full-time Actuaries, Mathematicians and Statisticians in Australia is $2,072.

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Actuaries, Mathematicians and Statisticians

Business, Human Resource and Marketing Professionals · Information and Organisation Professionals

Moderate Risk

Median Weekly Pay

$2,072

Full-time workers

Employment

12,100

Total workers

10yr Growth

+27.5%

Projected to 2035

Shortage Status

Shortage

JSA Official AI Exposure

Automation58.0%

Augmentation77.0%

Key Tasks

•Defining, analysing and solving complex financial and business problems relating to areas such as insurance premiums, annuities, superannuation funds, pensions and dividends
•Examining financial projections for general insurance companies, finance companies, government and other organisations
•Designing new types of policies, assessing risks and analysing investments in life insurance, superannuation funds, health insurance, friendly societies, financial markets and other areas
•Formulating mathematical models to simulate processes
•Applying models to experimental observations, and adjusting and recasting the models
•Using numerical analysis methods to develop algorithms and perform computations
•Liaising with management and clients to determine the subject or area to be surveyed or examined
•Specifying the data to be collected, and the methodology to be used in collection and analysis
•Evaluating and describing the reliability and utility of source information
•Analysing and interpreting data, and producing relevant statistics to describe and infer particular trends and patterns