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What is Model Risk and Why Does it Matter?

DataRobot Blog

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
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Automating Model Risk Compliance: Model Validation

DataRobot Blog

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
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Key Success Metrics, Benefits, and Results for Data Observability Using DataKitchen Software

DataKitchen

We kept adding tests over time; it has been several years since we’ve had any major glitches. Our vision was to create a flexible, state-of-the-art data infrastructure that would allow our analysts to transform the data rapidly with a very low risk of error. Data errors can cause compliance risks. That was amazing for the team.”

Metrics 117
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Why you should care about debugging machine learning models

O'Reilly on Data

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]

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ChatGPT, Author of The Quixote

O'Reilly on Data

TL;DR LLMs and other GenAI models can reproduce significant chunks of training data. Researchers are finding more and more ways to extract training data from ChatGPT and other models. And the space is moving quickly: SORA , OpenAI’s text-to-video model, is yet to be released and has already taken the world by storm.

Modeling 275
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What to Do When AI Fails

O'Reilly on Data

This article answers these questions, based on our combined experience as both a lawyer and a data scientist responding to cybersecurity incidents, crafting legal frameworks to manage the risks of AI, and building sophisticated interpretable models to mitigate risk. All predictive models are wrong at times?—just

Risk 359
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Generative AI use cases for the enterprise

IBM Big Data Hub

This data is fed into generational models, and there are a few to choose from, each developed to excel at a specific task. Generative adversarial networks (GANs) or variational autoencoders (VAEs) are used for images, videos, 3D models and music. Autoregressive models or large language models (LLMs) are used for text and language.