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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. What is a model?

Risk 111
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6 business risks of shortchanging AI ethics and governance

CIO Business Intelligence

Even if the AI apocalypse doesn’t come to pass, shortchanging AI ethics poses big risks to society — and to the enterprises that deploy those AI systems. The following real-world implementation issues highlight prominent risks every IT leader must account for in putting together their company’s AI deployment strategy.

Risk 145
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How to prioritize data strategy investments as a CDO

IBM Big Data Hub

My first task as a Chief Data Officer (CDO) is to implement a data strategy. Over the past 15 years, I’ve learned that an effective data strategy enables the enterprise’s business strategy and is critical to elevate the role of a CDO from the backroom to the boardroom. Mitigating risk. Understand your strategic drivers.

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Oracle makes its pitch for the enterprise cloud. Should CIOs listen?

CIO Business Intelligence

“Oracle Cloud Infrastructure is now capable of hosting a full range of traditional and modern IT workloads, and for many enterprise customers, Oracle is a proven vendor,” says David Wright, vice president of research for cloud infrastructure strategies at research firm Gartner. The inherent risk is trust.

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Captive centers are back. Is DIY offshoring right for you?

CIO Business Intelligence

You’d be forgiven if you’re wondering whether you’ve stumbled on an article from 2016 , but, in fact, the practice of launching an offshore IT center wholly owned and operated by the enterprise it serves is back in vogue with notable twists. Captive centers are on the rise. Not all BOTs transfer in the end, notes Martorelli.

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Belcorp reimagines R&D with AI

CIO Business Intelligence

As Belcorp considered the difficulties it faced, the R&D division noted it could significantly expedite time-to-market and increase productivity in its product development process if it could shorten the timeframes of the experimental and testing phases in the R&D labs.

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Big Data: The Technology Behind Retailers Success

Smart Data Collective

This information can further be used in marketing strategies. Retailers can conduct A/B testing to find out which prices work the best. Powered by big data, retailers can turn to a dynamic pricing strategy to analyze the market and adjust accordingly. This global coffee brand has increased its revenue by 26% from 2016 to 2019.

Big Data 124