CIO Business Intelligence

NOVEMBER 27, 2023

Intelligent assistants are already changing how we search, analyze information, and do everything from creating code to securing networks and writing articles. Developing and deploying successful AI can be an expensive process with a high risk of failure. The results are impressive and improving at a geometric rate.

Risk 130

Risk Cost-Benefit Modeling IoT 130

CIO Business Intelligence

JULY 18, 2024

Mainframe systems process a vast amount of vital transactions daily—that includes everything from the swipe of a credit card at the grocery store to purchasing an airline ticket online or accessing sensitive healthcare information. What steps can be taken to minimize the risk of hackers penetrating the mainframe?

Risk 124

Risk Software Insurance Cost-Benefit 124

David Menninger's Analyst Perspectives

OCTOBER 15, 2024

Those customers should be evaluating if, when and how they will tap into the benefits that AI and GenAI can provide to improve operational and financial performance. With a perception of limited or no benefit, not taking any action can appear attractive and may be the right choice.

Cost-Benefit 130

Cost-Benefit Risk Forecasting Software 130

Smart Data Collective

JUNE 19, 2022

AI is particularly helpful with managing risks. How AI Can Help Suppliers Manage Risks Better. The benefits of AI stem from the need to manage close relationships with business stakeholders, which is a difficult task. Failure or Delay Risk. Brand Reputation Risk. Competitive Advantage Risk.

Risk 133

Risk Cost-Benefit Risk Management Manufacturing 133

CIO Business Intelligence

JANUARY 24, 2024

In my view, companies that split up these functions are seeing second-order consequences around communication, costs, and conflict, and are bringing these roles back together. Our analytics capabilities identify potentially unsafe conditions so we can manage projects more safely and mitigate risks.”

Risk Management 111

Risk Management Risk Management Digital Transformation 111

Smart Data Collective

JULY 8, 2021

As humanity makes more and more progress with AI there is constant debate underway whether AI will turn on us in the future or they will benefit us. Let’s talk about some benefits and risks of artificial intelligence. Benefits of Artificial Intelligence: Reducing human error. Training and operation cost reduction.

Risk 141

Risk Cost-Benefit Machine Learning Deep Learning 141

Andrew White

JANUARY 29, 2020

It was titled, “ High Speed Seen Increasing Costs of Stock Trading ”. But the point about time and information is extremely important: organizations rely on the fact that it takes time for good, new, valuable ideas to diffuse across an industry. But moving early with the wrong information could be disastrous.

Cost-Benefit 99

Cost-Benefit Marketing Risk IT 99

CIO Business Intelligence

JANUARY 3, 2024

The goal, he says, is to understand how AI will benefit Rich’s business overall. “We The risk of going out of business is just one of many disaster scenarios that early adopters have to grapple with. And it’s not just start-ups that can expose an enterprise to AI-related third-party risk. He’s not the only one.

Risk 129

Risk Modeling Enterprise Marketing 129

IBM Big Data Hub

SEPTEMBER 27, 2023

What are the benefits of open source LLMs? That gives them full control over their data and means sensitive information stays within their network. All this reduces the risk of a data leak or unauthorized access. Making these changes or specifications on a proprietary LLM entails working with a vendor and costs time and money.

Risk 91

Risk Modeling Cost-Benefit Enterprise 91

Smart Data Collective

FEBRUARY 14, 2023

A growing number of companies are discovering that it offers tremendous benefits, but there are also some downsides to it. What Are the Benefits of Cloud Computing for Businesses? It is becoming increasingly popular among businesses due to its cost-effective nature and scalability.

Risk 102

Risk Cost-Benefit Software Technology 102

CIO Business Intelligence

JULY 5, 2023

Addressing semiconductor supply chain risks Even before the most recent supply chain challenges, political leaders around the world have been taking a close look at the current semiconductor supply chain model. Some of that risk is being addressed at national and regional levels, such as the U.S. But these costs are not insurmountable.

Risk 85

Risk Manufacturing Cost-Benefit Data Processing 85

Jet Global

MARCH 13, 2024

Tech debt is the cost of choosing quick solutions over better ones, requiring future rework. Upgrading the library runs the risk of breaking the dashboard. IBM’s Cost of a Data Breach Report reveals the average cost of a data breach for global organizations is at an all-time high at $4.45

Risk 52

Risk Dashboards Business Intelligence Cost-Benefit 52

CIO Business Intelligence

AUGUST 16, 2023

In order to do that, a digital transformation was required, and when it comes to information provision, there wasn’t much, so we put in place basic platforms to handle data, and developed a cloud architecture for infrastructure and applications.” We wanted to create an information supply for the entire company, though.”

Risk 92

Risk Cost-Benefit Internet of Things Digital Transformation 92

CIO Business Intelligence

NOVEMBER 19, 2024

Provide transparency back to the original data source to allow verification of information. High costs Failing: The infrastructure and computational costs for training and running GenAI models are significant. Key takeaway: Cost management strategies are crucial for sustainable AI deployment.

Consulting 111

Consulting Cost-Benefit Experimentation Optimization 111

CIO Business Intelligence

OCTOBER 29, 2024

Leaders who adopt a crawl-walk-run approach, with thoughtful risk-taking and a strategic focus on actions and results, maximize the business value from IT modernization.” Identify the benefits and ensure that you keep business value at the forefront.” Kar advises taking a measured approach to system modernization.

IT 137

IT Cost-Benefit Strategy Risk 137

CIO Business Intelligence

JUNE 22, 2023

In cybersecurity, it’s also usually cheaper and less likely to expose the organization to reputational, financial, and compliance risk. The result is extra cost, complexity, and security risk. This can also sap productivity and add operational cost, especially if teams are duplicating activities.

Risk 52

Risk Management Cost-Benefit Digital Transformation 52

CIO Business Intelligence

MARCH 22, 2023

However, they face a significant challenge in ensuring privacy due to sensitive Personally Identifiable Information (PII) in most enterprise datasets. Then the trained models become consumers of vast amounts of data to gain insights to inform business decisions. Safeguarding PII is not a new problem.

Machine Learning 105

Machine Learning Cost-Benefit Modeling Risk 105

O'Reilly on Data

APRIL 23, 2024

Not to be confused with the ordinary sense of rent as a charge for temporary use of property, economic rents are the income above a competitive market rate that is collected because of asymmetries in ownership, information, or power. But this kind of virtuous rising tide rent, which benefits everyone, doesn’t last.

Advertising 274

Advertising Cost-Benefit Marketing Risk 274

Smart Data Collective

MARCH 27, 2020

The auto insurance industry has always relied on data analysis to inform their policies and determine individual rates. Here is the type of data insurance companies use to measure a client’s potential risk and determine rates. Traditional data, like demographics, continues to be a factor in risk assessment. Demographics.

Insurance 107

Insurance Measurement Risk Cost-Benefit 107

CIO Business Intelligence

MAY 17, 2022

Even if the AI apocalypse doesn’t come to pass, shortchanging AI ethics poses big risks to society — and to the enterprises that deploy those AI systems. The following real-world implementation issues highlight prominent risks every IT leader must account for in putting together their company’s AI deployment strategy.

Risk 145

Risk Data Science Consulting Machine Learning 145

datapine

MAY 2, 2023

Table of Contents 1) Benefits Of Big Data In Logistics 2) 10 Big Data In Logistics Use Cases Big data is revolutionizing many fields of business, and logistics analytics is no exception. These applications are designed to benefit logistics and shipping companies alike. Did you know? Where is all of that data going to come from?

Big Data 275

Big Data Internet of Things Cost-Benefit Optimization 275

CIO Business Intelligence

SEPTEMBER 12, 2024

The cost of compliance These challenges are already leading to higher costs and greater operational risk for enterprises. Clearly, compliance poses a significant operational risk that can only be overcome by robust systems and processes. According to figures from the Cato Institute, U.S firms spend on average 1.3% ‒ 3.3%

Data-driven 89

Data-driven Management Cost-Benefit Risk 89

DataRobot Blog

MAY 10, 2022

Addressing the Key Mandates of a Modern Model Risk Management Framework (MRM) When Leveraging Machine Learning . The regulatory guidance presented in these documents laid the foundation for evaluating and managing model risk for financial institutions across the United States. To reference SR 11-7: .

Risk 64

Risk Modeling Machine Learning Data Quality 64

CIO Business Intelligence

NOVEMBER 21, 2024

For instance, CIOs in industries like financial services need to monitor how competitors leverage AI for fraud detection or offer personalized services to inform their IT strategies. CIOs must build strong relationships with other executives to ensure IT is seen not as a cost center but as a critical enabler of business success.

Strategy 99

Strategy IT Business Objectives Cost-Benefit 99

Jet Global

FEBRUARY 6, 2024

No longer passive consumers of information, you become master storytellers, captivating audiences with visual masterpieces crafted from data. Logi Symphony fosters a collaborative data-sharing ecosystem, dismantling the walls of information silos and replacing them with transparency and efficiency. The result?

Dashboards 52

Dashboards Visualization Data-driven Reporting 52

CIO Business Intelligence

AUGUST 30, 2024

As HR technology evolves, professionals in the sector need to understand not only how the solutions function, but how to extract the most benefit from emerging system capabilities. The best way to accomplish this is through human resources information management (HRIM) and human resources information systems (HRIS) certification.

Cost-Benefit 110

Cost-Benefit Risk Management Strategy Testing 110

David Menninger's Analyst Perspectives

NOVEMBER 12, 2024

RAG enhances the accuracy of generated responses by retrieving relevant information from external sources before generating an answer. The results can be used to uncover the source of bottlenecks, delays, unseen risks and unnecessary workloads that, in turn, allows organizations to institute improvements.

Finance 130

Finance Prescriptive Analytics Cost-Benefit Manufacturing 130

CIO Business Intelligence

NOVEMBER 4, 2024

IDC, for instance, recommends the NIST AI Risk Management Framework as a suitable standard to help CIOs develop AI governance in house, as well as EU AI ACT provisions, says Trinidad, who cites best practices for some aspects of AI governance in “ IDC PeerScape: Practices for Securing AI Models and Applications.”

Uncertainty 130

Uncertainty Cost-Benefit Risk Experimentation 130

CIO Business Intelligence

OCTOBER 22, 2024

On the good, you get the benefits that may be unique to each provider and can price shop to some degree,” he says. Adding another cloud provider to the mix without the right talent, processes, and cloud infrastructure only makes the benefits of multicloud less attainable,” he says, stressing the importance of upskilling internal talent.

Strategy 125

Strategy Cost-Benefit Risk Enterprise 125

CIO Business Intelligence

MARCH 6, 2024

This connectivity maximizes efficiency, keeps critical infrastructure running, and gives the business new information and insights. Attacks against OT systems pose risks beyond financial losses. The second business benefit is cost savings. Renault-Nissan lost a cool $4 billion thanks to the massive WannaCry attack.

ROI 126

ROI Manufacturing Cost-Benefit IoT 126

IBM Big Data Hub

OCTOBER 16, 2023

As more businesses use AI systems and the technology continues to mature and change, improper use could expose a company to significant financial, operational, regulatory and reputational risks. It encompasses risk management and regulatory compliance and guides how AI is managed within an organization. Trustworthiness is critical.

Risk 70

Risk Modeling Management Metadata 70

CIO Business Intelligence

AUGUST 27, 2024

A staged approach enables risk mitigation and resource optimization and ensures modernization efforts bolster operational efficiency and competitive advantage. Plan: Develop a detailed road map considering dependencies, resources, and risk mitigation strategies. Focus on automation to enhance speed, quality, and real-time information.

Cost-Benefit 99

Cost-Benefit Key Performance Indicator ROI Strategy 99

CIO Business Intelligence

SEPTEMBER 17, 2024

Moreover, undertaking digital transformation and technology modernization programs without an architect can lead to delays, technical debt , higher costs, and security vulnerabilities. Mounting technical debt and extending the life of legacy systems are key risks CIOs should be paranoid about.

Enterprise 145

Enterprise Digital Transformation Cost-Benefit Risk 145

CIO Business Intelligence

OCTOBER 21, 2024

Thoroughly review e-invoices for accuracy, and make sure the format and information are in accordance with the governing body. One of the biggest shifts is related to the e-invoicing regulations, which are becoming obligatory in an increasing number of countries. Why are so many countries going paperless?

Cost-Benefit 102

Cost-Benefit Optimization Risk Reporting 102

CIO Business Intelligence

OCTOBER 2, 2024

One being knowledge management (KM), consisting of collecting enterprise information, categorizing it, and feeding it to a model that allows users to query it. Data management, when done poorly, results in both diminished returns and extra costs. During the blending process, duplicate information can also be eliminated.

Management 141

Management Data Governance Cost-Benefit Structured Data 141

CIO Business Intelligence

OCTOBER 29, 2024

As research suggests, the potential benefits of generative AI (genAI) adoption far outweigh the challenges, making it imperative for businesses to adopt a strategic approach toward scaling their AI implementation while observing guidelines for ESG compliance. New key metrics to capture include: Alignment with strategic goals.

Enterprise 112

Enterprise Cost-Benefit Metrics Strategy 112

John Wheeler

OCTOBER 21, 2019

Over the past month, I’ve been speaking to various groups to help them prepare for the onslaught of digital risks in their organizations. A common theme is the need for greater risk quantification beyond the realm of traditional, qualitative governance, risk and compliance (GRC) approaches.

Risk 53

Risk Risk Management Digital Transformation Insurance 53