John Wheeler

NOVEMBER 24, 2020

However, for security and risk management professionals it can make a huge difference. Take for example the terms cyber risk, digital risk and the digitalization of risk management. Viewed together, the three terms represent key aspects of integrated risk management (IRM).

Risk Management 85

Risk Management Risk Management Technology 85

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 it possible to have an unbiased AI model?

Risk Management 52

Risk Management Risk Modeling Management 52

CIO Business Intelligence

JULY 23, 2024

Call it survival instincts: Risks that can disrupt an organization from staying true to its mission and accomplishing its goals must constantly be surfaced, assessed, and either mitigated or managed. While security risks are daunting, therapists remind us to avoid overly stressing out in areas outside our control.

Risk 142

Risk IT Risk Management Cost-Benefit 142

CIO Business Intelligence

NOVEMBER 8, 2024

AI coding agents are poised to take over a large chunk of software development in coming years, but the change will come with intellectual property legal risk, some lawyers say. At the level of the large language model, you already have a copyright issue that has not yet been resolved,” he says. The same goes for open-source stuff.

Risk 132

Risk Software Recreation/Entertainment Modeling 132

Smart Data Collective

AUGUST 27, 2020

It’s important to know how to protect your own firm from spend risk, supply chain disruption while enhancing the company’s ability to thrive. Moving your supply chain model to the cloud could be one of the best ways to reduce these concerns. It’s difficult to mitigate supply chain risk in the best of times.

Risk Management 109

Risk Management Risk Management Software 109

Alation

JANUARY 9, 2023

Alation joined with Ortecha , a data management consultancy, to publish a white paper providing insights and guidance to stakeholders and decision-makers charged with implementing or modernising data risk management functions. The Increasing Focus On Data Risk Management. Download the complete white paper now.

Risk Management 52

Risk Management Risk Management Metadata 52

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

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 100

Risk IT Measurement Modeling 100

IBM Big Data Hub

MAY 4, 2020

Many financial firms are increasing their use of AI models because they can represent the real world more accurately, and they can deliver better projections than traditional, rule-based models. But some AI models can add complexity and risk.

Risk Management 81

Risk Management Risk Modeling Management 81

DataRobot Blog

APRIL 29, 2022

With the big data revolution of recent years, predictive models are being rapidly integrated into more and more business processes. This provides a great amount of benefit, but it also exposes institutions to greater risk and consequent exposure to operational losses. What is a model?

Risk 111

Risk Modeling IT Risk Management 111

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

bridgei2i

SEPTEMBER 24, 2020

However, risk management is no way lagging. ERM or Enterprise Risk Management is being used to identify crises long before it blows up into a huge problem. AI is being used to assess, prioritize, and mitigate risks in the enterprise so that the business operations do not take a hit. Risk Management Model.

Risk Management 52

Risk Management Risk Enterprise Management 52

bridgei2i

JUNE 2, 2020

Episode 7: The Impact of COVID-19 on Financial Services & Risk. Management. The Impact of COVID-19 on Financial Services & Risk Management. As past data isn’t relevant anymore, current models aren’t going to work. Now, the first of those areas is definitely risk and portfolio management.

Risk Management 128

Risk Management Risk Enterprise Management 128

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 110

Risk Risk Management Strategy Enterprise 110

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

DataRobot Blog

JUNE 27, 2022

In our previous two posts, we discussed extensively how modelers are able to both develop and validate machine learning models while following the guidelines outlined by the Federal Reserve Board (FRB) in SR 11-7. Monitoring Model Metrics.

Risk 59

Risk Modeling Metrics Measurement 59

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? They need to understand;

Risk 78

Risk Modeling Risk Management Measurement 78

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

bridgei2i

NOVEMBER 20, 2020

Episode 2: AI enabled Risk Management for FS powered by BRIDGEi2i Watchtower. AI enabled Risk Management for FS powered by BRIDGEi2i Watchtower. Today the Chief Risk Officers(CROs) struggle with the critical task of monitoring and assessing key risks in real time and firefight to mitigate any critical issues that arise.

Risk Management 92

Risk Management Risk Management Metrics 92

DataRobot Blog

JULY 22, 2022

Using AI-based models increases your organization’s revenue, improves operational efficiency, and enhances client relationships. You need to know where your deployed models are, what they do, the data they use, the results they produce, and who relies upon their results. That requires a good model governance framework.

Modeling 105

Modeling Risk Management Testing Risk 105

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

John Wheeler

AUGUST 28, 2020

Digital risk continues to grow in importance for corporate boards as they recognize the critical nature of digital business transformation today. Not only that, but 49% of directors cite the need to reduce legal, compliance and reputation risk related to digital investments. However, digital risk is different.

Risk 117

Risk Risk Management Internet of Things IoT 117

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

MARCH 3, 2020

Many financial institutions are rapidly developing and adopting AI models. They’re using the models to achieve new competitive advantages such as being able to make faster and more successful underwriting decisions. However, AI models introduce new risks.

Risk Management 68

Risk Management Risk Modeling Management 68

Smart Data Collective

FEBRUARY 28, 2023

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. However, before we get started, we will provide an overview of the concept of risk parity. What is risk parity? What is risk parity?

Machine Learning 89

Machine Learning Risk Cost-Benefit Marketing 89

Dataiku

SEPTEMBER 16, 2024

Large language models (LLMs) are already improving efficiency in client-facing operations and risk management environments. Do not require anything more technically advanced than a current generation ‘off the shelf’ model, run via secure cloud or on-premise: no model fine-tuning or retraining needed.

Modeling 59

Modeling Risk Management Data Science Risk 59

O'Reilly on Data

NOVEMBER 13, 2018

Considerations for a world where ML models are becoming mission critical. As the data community begins to deploy more machine learning (ML) models, I wanted to review some important considerations. Before I continue, it’s important to emphasize that machine learning is much more than building models. Model lifecycle management.

Machine Learning 224

Machine Learning Risk Management Statistics 224

IBM Big Data Hub

JANUARY 28, 2020

Any financial services firm using AI must revisit its approach to model risk management. The reason is that AI models are evolving faster than the rules-based models that were standard previously. If AI models perform inadequately, major operational losses can grow quickly.

Risk 80

Risk Modeling Big Data Management 80

Domino Data Lab

AUGUST 6, 2021

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Risk Management 64

Risk Management Risk Enterprise Modeling 64

Cloudera

JULY 15, 2021

We recently hosted a roundtable focused on o ptimizing risk and exposure management with data insights. For financial institutions and insurers, risk and exposure management has always been a fundamental tenet of the business. Now, risk management has become exponentially complicated in multiple dimensions. .

Risk 99

Risk Optimization Management Insurance 99

CIO Business Intelligence

DECEMBER 15, 2022

And IVL is experimenting with recyclable plastics as part of a circular economy model. To bring sustainability home, IVL sought to maximize the efficiency of its plants through digital transformation by replacing data silos with a single data source that would revolutionize enterprise asset management (EAM).

Risk 94

Risk Digital Transformation Software ROI 94

O'Reilly on Data

DECEMBER 12, 2019

Not least is the broadening realization that ML models can fail. And that’s why model debugging, the art and science of understanding and fixing problems in ML models, is so critical to the future of ML. Because all ML models make mistakes, everyone who cares about ML should also care about model debugging. [1]

Machine Learning 196

Machine Learning Modeling Testing Risk Management 196

DataRobot

OCTOBER 22, 2021

Their increased usage has also led to new challenges related to compliance, misuse, and fraud risk. This can be accomplished by providing stronger accountability, increased productivity, and transparency into spending and risk management. Additionally, more than 1000 hours can be saved on risk transaction reviews each year.

Risk 98

Risk Risk Management Data-driven Management 98

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.

Risk Management 121

Risk Management Risk Publishing Modeling 121

Cloudera

FEBRUARY 4, 2021

Financial services institutions need the ability to analyze and act on massive volumes of data from diverse sources in order to monitor, model, and manage risk across the enterprise. They need a comprehensive data and analytics platform to model risk exposures on-demand. Cloudera is that platform.

Risk 86

Risk Marketing Technology Management 86

Domino Data Lab

JULY 14, 2022

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. 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.

Insurance 98

Insurance Modeling Management Risk Management 98

CIO Business Intelligence

MARCH 8, 2023

As organizations shape the contours of a secure edge-to-cloud strategy, it’s important to align with partners that prioritize both cybersecurity and risk management, with clear boundaries of shared responsibility. The security-shared-responsibility model provides a clear definition of the roles and responsibilities for security.”

Modeling 84

Modeling Risk Management Internet of Things Risk 84