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What is Model Risk and Why Does it Matter?

DataRobot Blog

With the big data revolution of recent years, predictive models are being rapidly integrated into more and more business processes. This provides a great amount of benefit, but it also exposes institutions to greater risk and consequent exposure to operational losses. What is a model?

Risk 111
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AI-Based Banking Loan Software Will Become Norm In 2022

Smart Data Collective

In this article, we decided to cover the tendencies in banking loan software in 2022 and give a brief market outlook of AI-driven lending software as a whole. It refers to underwriting, customer onboarding, document management, analysis, and statistics. Digital banking market. billion in net loan losses due to the pandemic burst.

Software 121
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UK Government tests frictionless trade models with Ecosystem of Trust pilots

IBM Big Data Hub

The UK government’s Ecosystem of Trust is a potential future border model for frictionless trade, which the UK government committed to pilot testing from October 2022 to March 2023. The models also reduce private sector customs data collection costs by 40%.

Testing 83
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Going ‘AI native’ with in-house ChatGPT the MITRE way

CIO Business Intelligence

in late November 2022 — MITRE would be among the first organizations looking to capitalize on the technology, launching MITREChatGPT a month later. And it enables research teams to analyze legislation and policy documents in record time, delivering plans for proposed changes to these critical agencies in a day rather than weeks.

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Please vote before May 11! 2022 DBTA Reader’s Choice Awards

erwin

Please help us keep our #1 position in 2022. Best Data Modeling Solution (erwin Data Modeler). Best Data Modeling Solution (erwin Data Modeler). Read more about erwin® Data Modeler by Quest. 2022 DBTA Reader’s Choice Awards appeared first on erwin Expert Blog. We need your help!

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Should finance organizations bank on Generative AI?

CIO Business Intelligence

Financial organizations want to capture generative AI’s tremendous potential while mitigating its risks. That’s because generative AI large language models (LLMs) have prowess in text-based generation, readily finding language and word patterns. And the finance industry is investing to do so. during the next decade to exceed USD 9.48

Finance 132
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King County enlists AI to reduce drug overdose deaths

CIO Business Intelligence

Like many public health agencies across the US, the King County Medical Examiner’s Office tracks drug overdose deaths to target interventions for populations at risk and save lives. Seattle, the county seat, reported nearly 600 drug overdose deaths in 2022, an increase of 72% from the previous year.