datapine

MAY 31, 2022

3) Cloud Computing Benefits. It provides better data storage, data security, flexibility, improved organizational visibility, smoother processes, extra data intelligence, increased collaboration between employees, and changes the workflow of small businesses and large enterprises to help them make better decisions while decreasing costs.

Risk 237

Risk Cost-Benefit Business Intelligence Data-driven 237

CIO Business Intelligence

AUGUST 20, 2024

Many AI projects have huge upfront costs — up to $200,000 for coding assistants, $1 million to embed generative AI in custom apps, $6.5 million to fine-tune gen AI models, and $20 million to build custom models from scratch, according to recent estimates from Gartner. SMBs are particularly vulnerable to these cost increases.”

Risk 129

Risk Cost-Benefit Insurance ROI 129

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.

Risk 64

Risk Modeling Machine Learning Data Quality 64

CIO Business Intelligence

DECEMBER 14, 2023

As CIOs seek to achieve economies of scale in the cloud, a risk inherent in many of their strategies is taking on greater importance of late: consolidating on too few if not just a single major cloud vendor. This is the kind of risk that may increasingly keep CIOs up at night in the year ahead.

Risk 129

Risk Cost-Benefit Strategy Risk Management 129

CIO Business Intelligence

JANUARY 3, 2024

According to an O’Reilly survey released late last month, 23% of companies are using one of OpenAI’s models. Other respondents said they aren’t using any generative AI models, are building their own, or are using an open-source alternative. The goal, he says, is to understand how AI will benefit Rich’s business overall. “We

Risk 130

Risk Modeling Enterprise Marketing 130

Smart Data Collective

FEBRUARY 28, 2023

We talked about the benefits of AI for consumers trying to improve their own personal financial plans. One of the most important changes pertains to risk parity management. We are going to provide some insights on the benefits of using machine learning for risk parity analysis. What is risk parity?

Machine Learning 89

Machine Learning Risk Cost-Benefit Marketing 89

CIO Business Intelligence

FEBRUARY 20, 2024

While cloud risk analysis should be no different than any other third-party risk analysis, many enterprises treat the cloud more gently, taking a less thorough approach. Interrelations between these various partners further complicate the risk equation. That’s where the contract comes into play.

Risk 127

Risk Enterprise Strategy Snapshot 127

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 114

Risk Management Risk Management Digital Transformation 114

CIO Business Intelligence

MARCH 25, 2024

Modern digital organisations tend to use an agile approach to delivery, with cross-functional teams, product-based operating models , and persistent funding. But to deliver transformative initiatives, CIOs need to embrace the agile, product-based approach, and that means convincing the CFO to switch to a persistent funding model.

Modeling 124

Modeling Cost-Benefit IT ROI 124

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 includes processes that trace and document the origin of data, models and associated metadata and pipelines for audits.

Risk 70

Risk Modeling Management Metadata 70

DataRobot Blog

MAY 26, 2022

Last time , we discussed the steps that a modeler must pay attention to when building out ML models to be utilized within the financial institution. In summary, to ensure that they have built a robust model, modelers must make certain that they have designed the model in a way that is backed by research and industry-adopted practices.

Risk 52

Risk Modeling Metrics Business Objectives 52

IBM Big Data Hub

MAY 13, 2024

In the previous blog , we discussed the differentiated approach by IBM to delivering enterprise-grade models. In this blog, we delve into why foundation model choices matter and how they empower businesses to scale gen AI with confidence. Why are model choices important?

Modeling 70

Modeling Cost-Benefit Risk Testing 70

CIO Business Intelligence

OCTOBER 23, 2024

CIOs are under increasing pressure to deliver meaningful returns from generative AI initiatives, yet spiraling costs and complex governance challenges are undermining their efforts, according to Gartner. hours per week by integrating generative AI into their workflows, these benefits are not felt equally across the workforce.

Enterprise 141

Enterprise Cost-Benefit Broadcasting Risk 141

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

OCTOBER 4, 2024

Employees who wish to boost their efficiency through AI can benefit not only from upskilling, but also be supported with the right data, applications, and collaboration tools. Reduce costs : Organizations can see long-term cost savings by investing in technology that boosts workplace productivity and reduces labor costs.

Cost-Benefit 124

Cost-Benefit Risk Optimization Machine Learning 124

CIO Business Intelligence

NOVEMBER 19, 2024

Data privacy and compliance issues Failing: Mismanagement of internal data with external models can lead to privacy breaches and non-compliance with regulations. Bias and hallucinations Failing: GenAI models often produce biased or inaccurate outputs, leading to misinformation and potential legal issues.

Consulting 114

Consulting Cost-Benefit Experimentation Optimization 114

Domino Data Lab

AUGUST 6, 2021

Model Risk Management is about reducing bad consequences of decisions caused by trusting incorrect or misused model outputs. Systematically enabling model development and production deployment at scale entails use of an Enterprise MLOps platform, which addresses the full lifecycle including Model Risk Management.

Risk Management 64

Risk Management Risk Modeling Enterprise 64

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. CHIPS Act and the EU Chips Act.

Risk 88

Risk Manufacturing Cost-Benefit Data Processing 88

CIO Business Intelligence

OCTOBER 16, 2024

As gen AI becomes embedded into more devices, endowing it with autonomous decision-making will depend on real-time data and avoiding excessive cloud costs. By processing data closer to the source, edge computing can enable quicker decisions and reduce costs by minimizing data transfers, making it an alluring environment for AI.

Cost-Benefit 143

Cost-Benefit Manufacturing Data-driven Optimization 143

IBM Big Data Hub

SEPTEMBER 12, 2023

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

Testing Modeling Cost-Benefit Consulting 83

CIO Business Intelligence

NOVEMBER 11, 2024

Nate Melby, CIO of Dairyland Power Cooperative, says the Midwestern utility has been churning out large language models (LLMs) that not only automate document summarization but also help manage power grids during storms, for example. Only 13% plan to build a model from scratch.

ROI 135

ROI Cost-Benefit Experimentation Risk 135

erwin

SEPTEMBER 25, 2020

Understanding the benefits of data modeling is more important than ever. Data modeling is the process of creating a data model to communicate data requirements, documenting data structures and entity types. In this post: What Is a Data Model? Why Is Data Modeling Important? What Is a Data Model?

Modeling 111

Modeling Cost-Benefit Visualization Data Warehouse 111

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.” The challenges?

Uncertainty 133

Uncertainty Cost-Benefit Risk Experimentation 133

CIO Business Intelligence

JULY 5, 2024

The landscape of data center infrastructure is shifting dramatically, influenced by recent licensing changes from Broadcom that are driving up costs and prompting enterprises to reevaluate their virtualization strategies. Clients are seeing increased costs with on-premises virtualization with Broadcom’s acquisition of VMware.

Cost-Benefit 124

Cost-Benefit Data Processing Reporting Enterprise 124

CIO Business Intelligence

AUGUST 30, 2024

As an IT leader, deciding what models and applications to run, as well as how and where, are critical decisions. History suggests hyperscalers, which give away basic LLMs while licensing subscriptions for more powerful models with enterprise-grade features, will find more ways to pass along the immense costs of their buildouts to businesses.

Uncertainty 121

Uncertainty Marketing Cost-Benefit Risk 121

CIO Business Intelligence

OCTOBER 3, 2024

From budget allocations to model preferences and testing methodologies, the survey unearths the areas that matter most to large, medium, and small companies, respectively. The complexity and scale of operations in large organizations necessitate robust testing frameworks to mitigate these risks and remain compliant with industry regulations.

Testing 126

Testing Cost-Benefit Experimentation Risk 126

Smart Data Collective

MARCH 27, 2020

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. Teens and young adults are less experienced drivers and, therefore, at risk for more car accidents. Demographics. This includes: Age.

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

erwin

MAY 2, 2022

How to create a solid foundation for data modeling of OLTP systems. As you undertake a cloud database migration , a best practice is to perform data modeling as the foundation for well-designed OLTP databases. This makes mastering basic data modeling techniques and avoiding common pitfalls imperative. Data modeling basics.

Modeling 98

Modeling Insurance Cost-Benefit Data Warehouse 98

O'Reilly on Data

NOVEMBER 28, 2023

And everyone has opinions about how these language models and art generation programs are going to change the nature of work, usher in the singularity, or perhaps even doom the human race. 16% of respondents working with AI are using open source models. 54% of AI users expect AI’s biggest benefit will be greater productivity.

Enterprise 276

Enterprise Modeling Testing Reporting 276

CIO Business Intelligence

AUGUST 9, 2024

Companies eager to harness these benefits can leverage ready-made, budget-friendly models and customize them with proprietary business data to quickly tap into the power of AI. But first, they need to consider where it fits in their organization, which processes will benefit the most, whether to buy or build it, and what it’ll cost.

Cost-Benefit 139

Cost-Benefit Data Governance Interactive Modeling 139

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. Interoperability and connectivity are key issues for the more than 80% of enterprises that have adopted a multicloud model, says Sid Nag, vice president of cloud services and technologies at Gartner.

Strategy 127

Strategy Cost-Benefit Risk Enterprise 127

CIO Business Intelligence

NOVEMBER 21, 2024

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. Not all IT projects have equal value and identifying the initiatives that will deliver the most significant benefits requires rigorous assessment.

Strategy 102

Strategy IT Business Objectives Cost-Benefit 102

CIO Business Intelligence

AUGUST 27, 2024

Furthermore, the growing importance of AI necessitates the modernization of AI models and data pipelines to prevent issues like model drift and bias. A staged approach enables risk mitigation and resource optimization and ensures modernization efforts bolster operational efficiency and competitive advantage.

Cost-Benefit 102

Cost-Benefit Key Performance Indicator ROI Strategy 102

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 23, 2024

The reality of what can be accomplished with current GenAI models, and the state of CIO’s data will not meet today’s lofty expectations.” But not all employees get the same degree of benefit from using GenAI. In fact, Gartner believes that cost is as big an AI risk as security or hallucinations.

Enterprise 134

Enterprise IT Cost-Benefit Measurement 134

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. Training a single AI model emits as much as five average cars over their lifetimes.

Enterprise 114

Enterprise Cost-Benefit Metrics Strategy 114