CIO Business Intelligence

OCTOBER 16, 2024

In the executive summary of the updated RSP , Anthropic stated, “in September 2023, we released our Responsible Scaling Policy (RSP), a public commitment not to train or deploy models capable of causing catastrophic harm unless we have implemented safety and security measures that will keep risks below acceptable levels.

Risk 97

Risk IT Measurement Modeling 97

CIO Business Intelligence

APRIL 23, 2024

As CIO, you’re in the risk business. Or rather, every part of your responsibilities entails risk, whether you’re paying attention to it or not. There are, for example, those in leadership roles who, while promoting the value of risk-taking, also insist on “holding people accountable.” You can’t lose.

Risk 113

Risk IT Insurance Risk Management 113

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. Is There Such a Thing as Unbiased AI? The hard truth is no.

Risk Management 52

Risk Management Risk Modeling Management 52

Smart Data Collective

JUNE 19, 2019

The Relationship between Big Data and Risk Management. While the sophisticated Internet of Things can positively impact your business, it also carries a significant risk of data misuse. Tips for Improving Risk Management When Handling Big Data. Risk management is a crucial element of any successful organization.

Risk Management 72

Risk Management Risk Management Big Data 72

CIO Business Intelligence

JULY 25, 2024

It also highlights the downsides of concentration risk. What is concentration risk? Looking to the future, IT leaders must bring stronger focus on “concentration risk”and how these supply chain risks can be better managed. Unfortunately, the complexity of multiple vendors can lead to incidents and new risks.

Risk 142

Risk Cost-Benefit Strategy Enterprise 142

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

DECEMBER 28, 2023

The need to manage risk, adhere to regulations, and establish processes to govern those tasks has been part of running an organization as long as there have been businesses to run. Furthermore, the State of Risk & Compliance Report, from GRC software maker NAVEX, found that 20% described their programs as early stage.

Risk 108

Risk Risk Management Strategy Enterprise 108

CIO Business Intelligence

MARCH 19, 2024

Ask your average schmo what the biggest risks of artificial intelligence are, and their answers will likely include: (1) AI will make us humans obsolete; (2) Skynet will become real, making us humans extinct; and maybe (3) deepfake authoring tools will be used by bad people to do bad things. Risks perceived by an average schmo 1.

Risk 120

Risk Machine Learning Risk Management Measurement 120

Cloudera

JUNE 29, 2023

To ensure the stability of the US financial system, the implementation of advanced liquidity risk models and stress testing using (MI/AI) could potentially serve as a protective measure. To improve the way they model and manage risk, institutions must modernize their data management and data governance practices.

Data Architecture 84

Data Architecture Risk Management Risk Management 84

IBM Big Data Hub

DECEMBER 8, 2023

.” This same sentiment can be true when it comes to a successful risk mitigation plan. The only way for effective risk reduction is for an organization to use a step-by-step risk mitigation strategy to sort and manage risk, ensuring the organization has a business continuity plan in place for unexpected events.

Risk 67

Risk Strategy Risk Management Insurance 67

CIO Business Intelligence

AUGUST 4, 2023

In collaboration with our peers, we have a solid business sense that carefully weighs innovation and risk in order to gain valuable ROI while protecting the organization from all forms of risk associated with each project. If reversible, then there’s clearly less risk. What’s new and different today?

Risk 97

Risk Risk Management ROI Technology 97

CIO Business Intelligence

AUGUST 7, 2023

Organizations big and small, across every industry, need to manage IT risk. based IT directors and vice presidents in companies with more than 1,000 employees to determine what keeps them up at night—and it comes as no surprise that one of their biggest nightmares is managing IT risk. trillion annually by 2025.

Risk 96

Risk IT Management Risk Management 96

Cloudera

OCTOBER 20, 2021

As part of these efforts, disclosure requirements will mandate that firms provide “the impact of a company’s activities on the environment and society, as well as the business and financial risks faced by a company due to its sustainability exposures.” What are the key climate risk measurements and impacts? Generate Scenarios.

Risk 78

Risk Modeling Risk Management Measurement 78

CIO Business Intelligence

NOVEMBER 21, 2024

Senior business leaders and CIOs must navigate a complex web of competing priorities, such as managing stakeholder expectations, accelerating technological innovation, and maintaining operational efficiency. Risk management is equally vital, particularly as organizations adopt modern technologies.

Strategy 99

Strategy IT Business Objectives Cost-Benefit 99

O'Reilly on Data

NOVEMBER 13, 2018

Fortunately, a recent survey paper from Stanford— A Critical Review of Fair Machine Learning —simplifies these criteria and groups them into the following types of measures: Anti-classification means the omission of protected attributes and their proxies from the model or classifier. Continue reading Managing risk in machine learning.

Machine Learning 224

Machine Learning Risk Management Statistics 224

CIO Business Intelligence

MAY 22, 2024

The signatories agreed to publish — if they have not done so already — safety frameworks outlining on how they will measure the risks of their respective AI models. The risks might include the potential for misuse of the model by a bad actor, for instance. So, in a way, it is a step towards ethical AI.”

Risk Management 120

Risk Management Risk Publishing Modeling 120

CIO Business Intelligence

AUGUST 6, 2024

This article explores the lessons businesses can learn from the CrowdStrike outage and underscores the importance of proactive measures like performing a business impact assessment (BIA) to safeguard operations against similar disruptions. This helps mitigate risks and ensures accountability.

Risk Management 106

Risk Management Risk Testing Finance 106

Smart Data Collective

APRIL 19, 2021

But in most instances, the real risk comes from within. From conversing on personal devices (BYODs) to sending documents to the wrong recipient, or using unsecured applications for transfers, the risk for potential leaks is high. Around 66% of all data leaks are caused by employees making mistakes with digital records.

Risk 125

Risk Management Measurement Optimization 125

DataRobot Blog

JUNE 27, 2022

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. These observations would have spanned a distribution, which the model leveraged to make its forecasts.

Risk 59

Risk Modeling Metrics Measurement 59

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.

Risk 70

Risk Modeling Management Metadata 70

CIO Business Intelligence

JULY 22, 2024

For CIOs, the event serves as a stark reminder of the inherent risks associated with over-reliance on a single vendor, particularly in the cloud. To mitigate this risk, CIOs are likely to explore multicloud or hybrid cloud architectures, distributing workloads across multiple platforms. Microsoft said around 8.5

Strategy 143

Strategy Testing Risk Management Risk 143

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. Re-starting business operations will require risk visibility not only across the organization but vertically down through the organization as well. Key Findings.

Marketing 110

Marketing Risk Management Risk Digital Transformation 110

CIO Business Intelligence

JUNE 23, 2023

It helps reduce risk, increase efficiency, optimize resources, and improve both the customer and employee experience. When asked what keeps them up at night, IT leaders noted the need to improve overall IT performance (60%), followed by data security (50%), process risk and compliance (46%), and the need to improve agility (41%).

IT 98

IT Risk Management Risk Optimization 98

CIO Business Intelligence

JUNE 27, 2024

Trade associations like the DPA may play a role in supporting the enforcement of such legislation and advocating for other similar measures. Effective risk management will be crucial for addressing legal and reputational risks, and innovation strategies may require adjustments to comply with regulatory standards.

Risk 121

Risk Measurement Risk Management Strategy 121

CIO Business Intelligence

JUNE 18, 2024

While compliance frameworks provide guidelines for protecting sensitive data and mitigating risks, security measures must adapt to evolving threats. Security, on the other hand, encompasses the broader spectrum of protective measures implemented to defend against malicious activities, data breaches, and cyberattacks.

Risk 105

Risk Measurement Risk Management Management 105

Cloudera

MAY 18, 2021

These interactions are captured and the resulting synthetic data sets can be analysed for a number of applications, such as training models to detect emergent fraudulent behavior, or exploring “what-if” scenarios for risk management. Value-at-Risk (VaR) is a widely used metric in risk management. Intraday VaR.

Risk 97

Risk Marketing Risk Management Data-driven 97

Smart Data Collective

MAY 4, 2023

Unfortunately, there are often many weak links in the data security infrastructure, which can increase the risks of data breaches. As data breaches continue to be a serious concern, organizations need to take stringent measures to protect against them. These steps can help reduce the risks of data breaches.

Risk Management 82

Risk Management Key Performance Indicator Measurement Risk 82

DataRobot Blog

MAY 26, 2022

To start with, SR 11-7 lays out the criticality of model validation in an effective model risk management practice: Model validation is the set of processes and activities intended to verify that models are performing as expected, in line with their design objectives and business uses.

Risk 52

Risk Modeling Metrics Business Objectives 52

CIO Business Intelligence

JUNE 25, 2024

Charles Dickens’ Tale of Two Cities contrasts London’s order and safety with the chaos and risk of Paris. Such as: Wouldn’t some of this money be better spent improving the company’s infosec risk posture? Which in turn should be their assessment of management’s plans for improving competitive advantage.

Risk 108

Risk Risk Management Statistics Management 108

Cloudera

JUNE 12, 2024

Traditional machine learning (ML) models enhance risk management, credit scoring, anti-money laundering efforts and process automation. Some of the biggest and well-known financial institutions are already realizing value from AI and GenAI: JPMorgan Chase uses AI for personalized virtual assistants and ML models for risk management.

Finance 76

Finance Risk Management Risk Data-driven 76

Decision Management Solutions

APRIL 23, 2019

, in which he states there are only three levers of value in insurance: Sell More, Manage Risk Better (aka underwriting and adjusting), and Cost Less to Operate. Let’s dive into greater detail on the second lever – Manage Risk Better. Insurers can also manage risk more effectively through continuous improvement.

Insurance 69

Insurance Risk Technology Management 69

CIO Business Intelligence

JUNE 10, 2024

Digital transformation programs promise a wealth of advantages, but unforeseen challenges can cancel out measurable value. It’s important to clearly identify what value you’re expecting to get from your partners against the price you’re paying, as well as the risk you’re taking on as a client. What primary risks lead to value erosion?

Digital Transformation 122

Digital Transformation Risk Measurement IT 122

Smart Data Collective

JULY 16, 2023

The Imperative of Risk Mitigation A crucial element in the world of financial investments is effective hedge fund management. Optimizing hedge fund performance requires the implementation of intelligent strategies, from managing risks to maximizing returns, improving investor relations, and adapting to shifting market conditions.

ROI 71

ROI Data Analytics Analytics Risk Management 71

IBM Big Data Hub

MAY 31, 2024

But the rates of exploration of AI use cases and deployment of new AI-powered tools have been slower in the public sector because of potential risks. Driving innovation for tax agencies with trust in mind Tax or revenue management agencies are a part of the public sector that might likely benefit from the use of responsible AI tools.

Cost-Benefit 98

Cost-Benefit Risk Risk Management Reporting 98

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. Lastly, CLTR said, capacity to monitor, investigate, and respond to incidents needs to be enhanced through measures such as the establishment of a pilot AI incident database.

Reporting 123

Reporting Risk Management Experimentation Risk 123

Smart Data Collective

MAY 15, 2019

On the other hand, big data has created a number of security risks that they need to be aware of, especially with brands leveraging Hadoop technology. Big data has created a number of security risks for Bluetooth users. Bluetooth Security Risks in the Age of Big Data. The best way to reduce the risk is to turn Bluetooth off.

Big Data 93

Big Data Risk Measurement Data mining 93

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. Reduce Risk with Systematic Model Controls. What Risk Managers Need to Know About AI Governance.

Modeling 105

Modeling Risk Management Testing Risk 105