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What is Model Risk and Why Does it Matter?

DataRobot Blog

This provides a great amount of benefit, but it also exposes institutions to greater risk and consequent exposure to operational losses. 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.

Risk 111
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How to implement zero trust device security

CIO Business Intelligence

Issues related to data privacy and security have crossed the boundaries of risk management, and now have a tangible impact on workplace and consumer safety. HP Anyware is a secured access enterprise software product offering zero trust user authentication and endpoint device management strategies.

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Building a Data Strategy for Defence Partners

Alation

Data gathering and use pervades almost every business function these days — and it’s widely acknowledged that businesses with a clear strategy around data are best placed to succeed in competitive, challenging markets such as defence. What is a data strategy? Why is a data strategy important?

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Automating Model Risk Compliance: Model Monitoring

DataRobot Blog

If the assumptions are being breached due to fundamental changes in the process being modeled, the deployed system is not likely to serve its intended purpose, thereby creating further model risk that the institution must manage. Model Benchmarking.

Risk 59
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Automating Model Risk Compliance: Model Validation

DataRobot Blog

In this post, we will dive deeper into how members from both the first and second line of defense within a financial institution can adapt their model validation strategies in the context of modern ML methods. The decreasing default risk with increasing salary suggests that higher income applicants pose less credit risk to the bank.

Risk 52
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A look into IBM’s AI ethics governance framework

IBM Big Data Hub

IBM’s governance framework is built around four core roles within the company: The Policy Advisory Committee: senior global leaders who provide oversight of the AI Ethics Board and help to establish the company’s strategy and risk tolerance. It helps accelerate responsible, transparent and explainable AI workflows.

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Key skills tech leaders need to secure a board seat

CIO Business Intelligence

And citizens and employees rely on the board to ensure the management team will treat them right and have their best interests in mind. How does the NACD help its members prepare for and manage cyber risk? There isn’t enough conversation and thought going into making sure we get everything in line to truly execute the strategy.

Risk 116