DataRobot Blog

NOVEMBER 17, 2022

What’s your AI risk mitigation plan? Just as you wouldn’t set off on a journey without checking the roads, knowing your route, and preparing for possible delays or mishaps, you need a model risk management plan in place for your machine learning projects. Document Design and Deployment For Regulations and Clarity.

Risk Management 52

Risk Management Risk Modeling Management 52

erwin

SEPTEMBER 3, 2020

It documents your data assets from end to end for business understanding and clear data lineage with traceability. Data governance and EA also provide many of the same benefits of enterprise architecture or business process modeling projects: reducing risk, optimizing operations, and increasing the use of trusted data.

Data Governance 144

Data Governance Enterprise Risk Data Lake 144

John Wheeler

NOVEMBER 25, 2020

Integrated risk management (IRM) technology is uniquely suited to address the myriad of risks arising from the current crisis and future COVID-19 recovery. Provide a full view of business operations by delivering forward-looking measures of related risk to help customers successfully navigate the COVID-19 recovery.

Marketing 110

Marketing Risk Management Risk Digital Transformation 110

CIO Business Intelligence

JUNE 6, 2024

RAI Institute described the template as an “industry-agnostic, plug-and-play policy document” that allow organizations to develop policies that are aligned with both business needs and risks.

Risk Management 131

Risk Management Risk Data-driven Consulting 131

CIO Business Intelligence

MAY 2, 2024

Security and risk management pros have a lot keeping them up at night. The digital injection attack A digital injection attack is when someone “injects” fake data, including AI-generated documents, photos, and biometrics images, into the stream of information received by an identity verification (IDV) platform.

Strategy 115

Strategy Risk Management Risk Measurement 115

erwin

SEPTEMBER 17, 2020

For example, automatically importing mappings from developers’ Excel sheets, flat files, Access and ETL tools into a comprehensive mappings inventory, complete with auto generated and meaningful documentation of the mappings, is a powerful way to support overall data governance. Data quality is crucial to every organization.

Cost-Benefit 143

Cost-Benefit Data Governance Metadata Reporting 143

CIO Business Intelligence

JULY 1, 2024

By documenting cases where automated systems misbehave, glitch or jeopardize users, we can better discern problematic patterns and mitigate risks. Real-time monitoring tools are essential, according to Luke Dash, CEO of risk management platform ISMS.online.

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CIO Business Intelligence

NOVEMBER 15, 2024

It is, he noted, not a final document, but “a living document, because we expect to see massive advancements in the AI space in the coming years.” In addition, Wong noted, the 24 AI Safety and Security Board members, who represent a who’s who in AI, are probably not the best people to ask how to implement an AI risk management system.

Risk 118

Risk Risk Management Strategy Software 118

CIO Business Intelligence

MAY 24, 2022

Deloitte estimates that compliance costs for banks have increased by 60% since the financial crisis of 2008, and the Risk Management Association found that 50% of financial institutions spend 6 to 10% of their revenues on compliance. Depending on the risk level of certain individuals, background checks can range from two to 24 hours.

Risk 145

Risk Reporting Marketing Risk Management 145

erwin

FEBRUARY 20, 2020

Whether documenting systems and technology, designing processes and value streams, or managing innovation and change, organizations need flexible but powerful EA and BP tools they can rely on for collecting relevant information for decision-making. The Advantages of Enterprise Architecture & Business Process Modeling from erwin.

Enterprise 128

Enterprise Modeling Dashboards Digital Transformation 128

DataRobot Blog

APRIL 29, 2022

The stakes in managing model risk are at an all-time high, but luckily automated machine learning provides an effective way to reduce these risks. However, after the financial crisis, financial regulators around the world stepped up to the challenge of reigning in model risk across the financial industry.

Risk 111

Risk Modeling IT Risk Management 111

Domino Data Lab

JULY 14, 2022

Rather, AI and ML models need to be monitored for validity, and often, they also need to be re-explained and re-documented for regulators. The financial services industries are starting to realize the full import of the fact that, like household chores like dishwashing and garden work, ML models are never really done.

Insurance 98

Insurance Modeling Management Risk Management 98

erwin

AUGUST 20, 2020

As a practice, EA involves the documentation, analysis, design and implementation of an organization’s assets and structure. With an enterprise architecture management suite (EAMS) , an organization can define and document its structure to more effectively determine how to achieve its goals. Innovation Management.

Enterprise 140

Enterprise Cost-Benefit Risk Data Governance 140

DataRobot Blog

JULY 22, 2022

At many organizations, the current framework focuses on the validation and testing of new models, but risk managers and regulators are coming to realize that what happens after model deployment is at least as important. They may not have been documented, tested, or actively monitored and maintained. Legacy Models. White Paper.

Modeling 105

Modeling Risk Management Testing Risk 105

erwin

OCTOBER 17, 2019

it ensures not only access to proper documentation but also current, updated information. The Regulatory Rationale for Integrating Data Management & Data Governance. Data security/risk management. In an M&A scenario, businesses need to ensure their systems are fully documented and rationalized.

Enterprise 106

Enterprise Digital Transformation Data Governance Risk Management 106

erwin

MARCH 25, 2021

Risk Management and Regulatory Compliance. Risk management, specifically around regulatory compliance, is an important use case to demonstrate the true value of data governance. According to Pörschmann, risk management asks two main questions. How likely is a specific event to happen? “You

Data Governance 109

Data Governance IT Cost-Benefit Risk 109

erwin

APRIL 30, 2021

Priority 3: Risk Management – Security and Compliance. Businesses are paying close attention to risk from internal and external sources. Understanding the applications you have, the applications in use, and the applications that are ripe for retirement is an important part of running an efficient IT operation.

Enterprise 131

Enterprise Digital Transformation Risk Management Risk 131

CIO Business Intelligence

NOVEMBER 21, 2023

After all, 41% of employees acquire, modify, or create technology outside of IT’s visibility , and 52% of respondents to EY’s Global Third-Party Risk Management Survey had an outage — and 38% reported a data breach — caused by third parties over the past two years.

IT 137

IT Risk Cost-Benefit Risk Management 137

CIO Business Intelligence

OCTOBER 3, 2023

They enable greater efficiency and accuracy and error reduction, better decision making, better compliance and risk management, process optimisation and greater agility. Intelligent document processing: uses artificial intelligence and machine learning techniques to automate the processing of documents and unstructured data.

Cost-Benefit 122

Cost-Benefit Machine Learning Interactive Software 122

CIO Business Intelligence

DECEMBER 19, 2023

Create these six generative AI workstreams CIOs should document their AI strategy for delivering short-term productivity improvements while planning visionary impacts. These workstreams require documenting a vision, assigning leaders, and empowering teams to experiment.

Digital Transformation 143

Digital Transformation Unstructured Data Machine Learning Risk Management 143

O'Reilly on Data

DECEMBER 12, 2019

In addition to newer innovations, the practice borrows from model risk management, traditional model diagnostics, and software testing. The study of security in ML is a growing field—and a growing problem, as we documented in a recent Future of Privacy Forum report. [8]. That’s where model debugging comes in.

Machine Learning 194

Machine Learning Modeling Testing Risk Management 194

CIO Business Intelligence

SEPTEMBER 17, 2024

Sponsor for operational and risk management solutions While many business risk areas will find sponsors in operations, finance, and risk management functions, finding sponsors and prioritizing investments to reduce IT risks can be challenging.

Enterprise 145

Enterprise Digital Transformation Cost-Benefit Risk 145

Smart Data Collective

SEPTEMBER 7, 2021

Properly safeguard physical documents. You and your employees should treat sensitive paper documents with the same level of attention as you treat your online transactions. You and your employees should treat sensitive paper documents with the same level of attention as you treat your online transactions.

Strategy 130

Strategy Risk Measurement IT 130

CIO Business Intelligence

JUNE 27, 2024

They must also introduce operational processes document and disclose copyright-related information during dataset creation.” Effective risk management will be crucial for addressing legal and reputational risks, and innovation strategies may require adjustments to comply with regulatory standards.

Risk 128

Risk Measurement Risk Management Strategy 128

CIO Business Intelligence

JUNE 26, 2023

The average mortgage requires 280 pages 2 of documents to be prepared, verified, and checked, contributing to an average cost of more than $11,000 in production expenses 3 per loan in the third quarter of 2022. Machine-managed risk Risk management is a top-of-mind issue for all financial services firms.

Data-driven 98

Data-driven Insurance Risk Risk Management 98

Octopai

JANUARY 19, 2020

BCBS 239 is a document published by that committee entitled, Principles for Effective Risk Data Aggregation and Risk Reporting. The document, first published in 2013, outlines best practices for global and domestic banks to identify, manage, and report risks, including credit, market, liquidity, and operational risks.

Metadata 89

Metadata Risk Management Business Intelligence Data Governance 89

erwin

JULY 12, 2019

Modern, strategic data governance , which involves both IT and the business, enables organizations to plan and document how they will discover and understand their data within context, track its physical existence and lineage, and maximize its security, quality and value. How erwin Can Help.

Data Governance 110

Data Governance Management Metadata Risk Management 110

DataRobot Blog

APRIL 11, 2022

An AI impact assessment will carefully document the harms for each stakeholder. It is designed by humans, built by humans, managed by humans, with the objective to serve human goals. Your documentation should describe how the AI system contributes to human values and human rights. Imperfection. Conclusion.

Risk 98

Risk Risk Management Software Consulting 98

CIO Business Intelligence

MAY 13, 2024

It focuses on three core areas of documentation: compliance, risk management, and model lifecycle management — processes IBM says are intertwined. watsonx.governance is a toolkit for governing generative AI and machine learning models.

Machine Learning 122

Machine Learning Risk Modeling Enterprise 122

CIO Business Intelligence

NOVEMBER 3, 2023

What’s more, when dealing with vast repositories of documents such as contracts, AI allows users to request specific actions, such as which contracts are affected by a change in law or by new regulations. Automation elevates risk management, opportunity identification and effective relationship management.

Digital Transformation 128

Digital Transformation Risk Management Risk Machine Learning 128

IBM Big Data Hub

FEBRUARY 13, 2024

For example, organizations can use generative AI to: Quickly turn mountains of unstructured text into specific and usable document summaries, paving the way for more informed decision-making. Generative AI proves highly useful in rapidly creating various types of documentation required by coders. Automate tedious, repetitive tasks.

Enterprise 118

Enterprise Testing Modeling Data-driven 118

CIO Business Intelligence

APRIL 14, 2023

Involving IT and innovation groups can help show that the policy isn’t just a clamp-down from a risk management perspective, but a balanced set of recommendations that seek to maximize productive use and business benefit while at the same time manage business risk.

Risk 122

Risk Experimentation Marketing Risk Management 122

IBM Big Data Hub

FEBRUARY 8, 2024

” European Parliament News The EU AI Act in brief The primary focus of the EU AI Act is to strengthen regulatory compliance in the areas of risk management, data protection, quality management systems, transparency, human oversight, accuracy, robustness and cyber security.

Risk Management 72

Risk Management Risk Machine Learning Metrics 72

CIO Business Intelligence

MAY 15, 2024

Europe’s AI Act will require some of this documentation, but most of its provisions won’t go into effect until 2026, she says. “I I would try to get as much documentation as possible, and test and evaluate the model and implement some guardrails inside the company,” she says. But that might not always be the case.

Modeling 137

Modeling Risk Software Enterprise 137

erwin

APRIL 29, 2020

Business terms and data policies should be implemented through standardized and documented business rules. For example, capital markets trading firms must understand their data’s origins and history to support risk management, data governance and reporting for various regulations such as BCBS 239 and MiFID II.

Key Performance Indicator 111

Key Performance Indicator Metadata Data Governance Data Quality 111

Cloudera

AUGUST 12, 2021

In a 2021 white paper titled “Data Excellence: Transforming manufacturing and supply systems“ written by the World Economic Forum and the Boston Consulting Group, it documented that 75% of executives interviewed believed that advanced analytics in manufacturing was more important today than three years ago. Risk Management.

Data-driven 112

Data-driven Manufacturing Insurance Risk Management 112

CIO Business Intelligence

SEPTEMBER 13, 2024

A holistic view of the environment To bridge this gap, Torres introduced risk management platform Asimily that delivers greater IoT device visibility so it’s easier to identify exploitable vulnerabilities on medical devices and equipment. So there was a very real gap in our defenses.”

Risk 128

Risk IT IoT Statistics 128