The new artificial intelligence boom may soon create a new job: life and annuity AI ecosystem manager.
Consultants at EY touch on the need for AI ecosystem managers in a new report on the firm's outlook for the global insurance sector.
Setting up the new AI systems will require teams full of highly paid, hard-to-find professionals. Forming AI ecosystems, or groups of talented, vetted people and firms, can make AI team building simpler and cheaper, the EY consultants write.
Nurturing AI ecosystems will "require new skills, namely, strategic partner selection and relationship management," the consultants predict.
What it means: Generative AI will generate new career paths.
The backdrop: Life and annuity issuers have been using computers to improve their underwriting and operations since the days when a bug was a fly that had flown into a computer and burned out a vacuum tube.
Now, issuers are spending tens of millions of dollars to apply machine learning technology and train "large language models," or "generative" AI systems that come up with ways to respond to users' prompts by analyzing how people have responded to the same or similar prompts in the past.
AI ecosystem managers: To use AI systems to transform life and annuity operations, insurers need "data science and analytics pros, prompt engineers, customer experience designers and beta underwriters," EY consultants write.
The ecosystem managers will have to know how to recruit and retain those people as well as to help oversee their work.
"Success with AI and digital transformation requires human skills, talent and judgment," the consultants say.
Thomas Ross, an AI implementation expert, expects "data ecosystem architect" and "AI ecosystem manager" to become two of the top new jobs over the next decade.
Organizations like Mozilla and Amazon Web Services already advertise openings for positions such as "AI ecosystem manager," AI ecosystem development manager" and "manager of AI ecosystem growth."
Typical openings call for candidates to have a combination of tech, business analysis and management skills.
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