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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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Agile Technology and Big Data Improve the State of Cybersecurity

Smart Data Collective

The risk of data breaches is rising sharply. The number increased 56% between 2017 and 2018. Cybersecurity experts are using data analytics and AI to identify warning signs that a firewall has been penetrated, conduct risk scoring analyses and perform automated cybersecurity measures.

Big Data 113
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What Are the Most Important Steps to Protect Your Organization’s Data?

Smart Data Collective

After a marginal increase in 2015, another steep rise happened in 2016 through 2017 before the volume decreased in 2018 and rose in 2019, and dropped again in 2020. Similarly, in 2018 the volume of breaches dropped to 1.257 billion (from 1.632 billion in 2017), but the records exposed dramatically increased to 471.23 million in 2017).

Testing 124
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Florida Crystals concentrates SAP in hosting sweet spot

CIO Business Intelligence

When Grayling joined the company in 2017, he focused on business process transformation, which went well as long as the processes concerned didn’t cross the boundary between SAP instances — a challenge he encountered while transforming source-to-pay processes across the two systems by implementing SAP Ariba. It was costing us a lot of money.”

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Schrodinger’s Automation in AI and the Automation Bias

Jen Stirrup

Automation and the history of the 'blame game' Technology is often touted as the solution to automating and correcting errors in human behaviour, reducing risk. In the UK, one recent example is the Post Office Horizon system was poorly implemented and badly tested. One example was the Piper Alpha disaster which occurred in 1988.

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How Axel Johnson International’s IT division handles constant acquisition

CIO Business Intelligence

We reorganized in 2017 and then also decided to create certain central staffs — finance, sustainability, M&A and IT,” says Mårten Steen, CIO at Axel Johnson International. Then they let one of the company’s business areas test it by asking any question. “We But at the same time there’s also risk.

IT 88
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12 famous ERP disasters, dustups and disappointments

CIO Business Intelligence

While we weren’t naïve to the risk of disruption to the business, the extent and magnitude was greater than we anticipated.” The auditors noted that rollout of “the first phases” of CLS was now expected that same year, and added recommendations on managing outsourcing risk to their earlier warnings. In 2017 Worth & Co.