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. What Is Model Risk?

Risk Management 64

Risk Management Risk Modeling Enterprise 64

CIO Business Intelligence

DECEMBER 19, 2023

Meanwhile, CIOs must still reduce technical debt, modernize applications, and get cloud costs under control. Create these six generative AI workstreams CIOs should document their AI strategy for delivering short-term productivity improvements while planning visionary impacts.

Digital Transformation 142

Digital Transformation Unstructured Data Machine Learning Risk Management 142

Rocket-Powered Data Science

FEBRUARY 15, 2023

3) How do we get started, when, who will be involved, and what are the targeted benefits, results, outcomes, and consequences (including risks)? Keep it agile, with short design, develop, test, release, and feedback cycles: keep it lean, and build on incremental changes. Test early and often. Test and refine the chatbot.

Strategy 289

Strategy Experimentation Uncertainty Machine Learning 289

IBM Big Data Hub

FEBRUARY 6, 2024

For example, a recent Kyndril study (link resides outside ibm.com) concluded that infrastructure failure can cost enterprises as much as USD 100,000 per hour, with application failure ranging from USD 500,000 to USD 1 million per hour. million—a 15% increase over the last 3 years.

Cost-Benefit 95

Cost-Benefit Testing Risk Strategy 95

CIO Business Intelligence

DECEMBER 11, 2023

“This regulation aims to ensure that fundamental rights, democracy, the rule of law and environmental sustainability are protected from high risk AI, while boosting innovation and making Europe a leader in the field,” said the press release issued by European Parliament. It is a myth that the AI Act will hamper innovation.

Risk 115

Risk Testing Insurance Cost-Benefit 115

IBM Big Data Hub

APRIL 4, 2024

The cloud represents a strategic tool to enable digital transformation for financial institutions As the banking and other regulated industry continues to shift toward a digital-first approach, financial entities are eager to use the benefits of digital disruption. Most of these new technologies are born-in-cloud.

Cost-Benefit 59

Cost-Benefit Risk Management Risk Digital Transformation 59

Smart Data Collective

AUGUST 30, 2022

The sudden growth is not surprising, because the benefits of the cloud are incredible. Cloud technology results in lower costs, quicker service delivery, and faster network data streaming. Testing new programs. With cloud computing, companies can test new programs and software applications from the public cloud.

Technology 133

Technology Enterprise Cost-Benefit Testing 133

IBM Big Data Hub

FEBRUARY 13, 2024

For example, organizations can use generative AI to: Quickly turn mountains of unstructured text into specific and usable document summaries, paving the way for more informed decision-making. Generative AI proves highly useful in rapidly creating various types of documentation required by coders. Automate tedious, repetitive tasks.

Enterprise 122

Enterprise Modeling Testing Data-driven 122

CIO Business Intelligence

OCTOBER 3, 2023

These tools bring benefits beyond automation. They enable greater efficiency and accuracy and error reduction, better decision making, better compliance and risk management, process optimisation and greater agility. These could include cost savings, increased efficiency, better customer experiences or enhanced competitive advantage.

Cost-Benefit 115

Cost-Benefit Machine Learning Interactive Software 115

CIO Business Intelligence

MARCH 13, 2024

So when on-boarding potential vendors, productivity has increased by 70 to 80% as a result of using gen AI to help analyze masses of documents. “We We did side-by-side testing,” he says. But the biggest benefit was to new and lower-skilled workers, who saw a 34% improvement.

IT 127

IT Consulting Testing Cost-Benefit 127

AWS Big Data

MARCH 12, 2024

We share our benchmarking results and methodology, and insights into the cost-effectiveness of EMR Serverless vs. fixed capacity Amazon EMR on EC2 transient clusters on our data workflows orchestrated using Amazon Managed Workflows for Apache Airflow (Amazon MWAA). PB of data from its data center to EMR on EC2.

Cost-Benefit 88

Cost-Benefit Optimization Big Data Metrics 88

CIO Business Intelligence

JANUARY 4, 2024

How can implementing a CCA benefit financial institutions and their various business units in their quest for PCI security compliance? That, in turn, reduces IT cost, the time it takes staff to learn the environment, and the time to market. One of the significant advantages of a CCA is the potential for cost reduction.

Optimization 99

Optimization Cost-Benefit Reporting Enterprise 99

IBM Big Data Hub

AUGUST 18, 2023

The Digital Operational Resilience Act , or DORA, is a European Union (EU) regulation that created a binding, comprehensive information and communication technology (ICT) risk-management framework for the EU financial sector. the average cost of a data breach was at its highest, reaching $9.48M. In the U.S.,

Cost-Benefit 78

Cost-Benefit Testing Strategy Risk Management 78

DataKitchen

FEBRUARY 21, 2023

Or, as one of our customers put it, “How do I increase the total amount of team insight generated without continually adding more staff (and cost)?” Staff turnover, stress, and unhappiness. Release New Data Engineering Work Often With Low Risk: “Testing and release processes are heavily manual tasks… automate these processes.”

Data-driven 130

Data-driven Testing Risk Cost-Benefit 130

Smart Data Collective

DECEMBER 21, 2020

We previously talked about the benefits of data analytics in the insurance industry. Key benefits of AI include recognizing speech, identifying objects in an image, and analyzing natural or unstructured data forms. Capturing data from documents. Estimation of vehicle repair costs. billion from the insurance industry.

Insurance 134

Insurance Cost-Benefit Big Data Unstructured Data 134

datapine

SEPTEMBER 29, 2022

Paired to this, it can also: Improved decision-making process: From customer relationship management, to supply chain management , to enterprise resource planning, the benefits of effective DQM can have a ripple impact on an organization’s performance. These processes could include reports, campaigns, or financial documentation.

Data Quality 241

Data Quality Metrics Data-driven Management 241

IBM Big Data Hub

JANUARY 29, 2024

Business continuity and disaster recovery plans are risk management strategies that businesses rely on to prepare for unexpected incidents. When deployed effectively, a good DR plan can help stakeholders better understand the risks to regular business functions that a particular threat may pose.

Cost-Benefit 92

Cost-Benefit Risk Enterprise Advertising 92

CIO Business Intelligence

JANUARY 9, 2024

IT leaders say they’re discussing everything from the costs of AI implementations to whether AI is the existential threat to humanity some fear. ChatGPT caused quite a stir after it launched in late 2022, with people clamoring to put the new tech to the test. Which business cases actually need AI? It’s an interesting dilemma CIOs have.

IT 129

IT Risk Cost-Benefit Enterprise 129

O'Reilly on Data

OCTOBER 22, 2020

Determining the risk profile of a given model requires a case-by-case evaluation but it can be useful to think of the failure risk in three broad categories: “If this model fails, someone might die or have their sensitive data exposed” — Examples of these kinds of uses include automated driving/flying systems and biometric access features.

Consulting 296

Consulting Risk Cost-Benefit Modeling 296

CIO Business Intelligence

APRIL 21, 2022

That’s a fringe benefit. This is followed by Lewis’s 2nd Law of Metrics: You get what you measure – that’s the risk you take. Putting IT metrics to the test. Let’s test it against a popular industry metric: the “total cost of ownership” (TCO). Take, for example, the cost of connecting a PC to your network.

Metrics 100

Metrics IT Cost-Benefit Measurement 100

Smart Data Collective

JUNE 29, 2022

Let’s talk about AI’s benefits in fintech , especially in terms of app development and how you can use it to maximize the success of your business. AI can benefit financial technology in a number of ways. From these benefits ultimately come cost savings. From these benefits ultimately come cost savings.

Cost-Benefit 86

Cost-Benefit Predictive Analytics Finance Forecasting 86

Smart Data Collective

SEPTEMBER 13, 2022

In today’s more competitive, technology-driven corporate environment, all firms seeking to increase activity and productivity are reaping the benefits of the software world. SaaS makes sense for business managers who want the newest capabilities at a cheaper cost and without worrying about future business demands.

Cost-Benefit 103

Cost-Benefit Data Processing Software Data-driven 103

CIO Business Intelligence

MARCH 24, 2023

The Business Application Research Center (BARC) warns that data governance is a highly complex, ongoing program, not a “big bang initiative,” and it runs the risk of participants losing trust and interest over time.

Data Governance 142

Data Governance Management Metadata Data Quality 142

Cloudera

JUNE 22, 2023

These dis-integrated resources are “data platforms” in name only: in addition to their high maintenance costs, their lack of interoperability with other critical systems makes it difficult to respond to business change. The top-line benefits of a hybrid data platform include: Cost efficiency. Simplified compliance.

Cost-Benefit 65

Cost-Benefit Digital Transformation Data Governance Unstructured Data 65

Alation

JULY 15, 2022

I recently led an online session, Data Monetisation and Governance , looking at the evolution of data governance , defining data ethics (from the Turing Institute ), and touching on the balancing act between using data to monetise (by increasing revenue, decreasing spend, or mitigating risk) and meeting ethical obligations. Data Value.

Cost-Benefit 89

Cost-Benefit Data Governance ROI Risk 89

datapine

JANUARY 6, 2022

Secondary Research: much like how patterns of behavior can be observed, different types of documentation resources can be coded and divided based on the type of material they contain. Typically, quantitative data is measured by visually presenting correlation tests between two or more variables of significance. minimal growth).

Visualization 246

Visualization Dashboards Cost-Benefit Measurement 246

CIO Business Intelligence

MAY 3, 2022

Controlling costs. Cloud costs can quickly spin out of control, especially when departments outside central IT add to the organization’s overall cloud footprint. Moving to the cloud means that we need to manage change to reduce risk and cost, with governance as the top layer to facilitate that change.”.

Management 144

Management Scorecard Cost-Benefit Risk 144

IBM Big Data Hub

APRIL 18, 2024

While leaders have some reservations about the benefits of current AI, organizations are actively investing in gen AI deployment, significantly increasing budgets, expanding use cases, and transitioning projects from experimentation to production. 46% of survey respondents in 2024 showed a preference for open source models.

Cost-Benefit 88

Cost-Benefit Modeling Manufacturing Interactive 88

CIO Business Intelligence

AUGUST 17, 2023

But, as with any big new wave, there is a risk of once-promising projects being washed up and there are clear and obvious concerns over governance, quality and security. We ran workshops with every division of our business, educating them on the accelerating innovation in this area, brainstorming opportunities and risks.

Risk 95

Risk Cost-Benefit Strategy Experimentation 95

CIO Business Intelligence

DECEMBER 11, 2023

The need to secure sensitive information is paramount for ethical AI deployment because AI’s heavy dependency on data increases the risk of breaches and unauthorized access, Wollersheim says. This team establishes the company’s risk tolerance, acceptable use cases and restrictions, and applicable disclosures.

Modeling 130

Modeling Risk Strategy Software 130

CIO Business Intelligence

SEPTEMBER 21, 2023

The phrase “existential risk” is now everywhere—not in the sense the AI would destroy humanity, but that it would make business functions, or even entire companies, obsolete. If you take something slightly risky and make it a thousand times bigger, the risks are amplified,” he says. But it’s a sign of what’s to come. “If

Enterprise 129

Enterprise Consulting Modeling Cost-Benefit 129

CIO Business Intelligence

APRIL 6, 2022

But taking on too much at once or not following a tested model with clear foundations for successful cloud consumption can result in analysis paralysis and business concerns on whether cloud is a true enabler. Watch Costs. Cloud, finance and procurement teams should work together to weigh cloud costs against benefits.

Cost-Benefit 52

Cost-Benefit Risk Data-driven ROI 52

IBM Big Data Hub

MAY 26, 2023

Leading life sciences companies are discovering the power of cloud in enabling analytics and artificial intelligence (AI) , shrinking innovation cycles, and standardizing processes across global operations, among other benefits. Of these breaches, 45% were cloud-based, costing USD 10.10M on an average, per breach.

Consulting 77

Consulting Cost-Benefit Optimization Machine Learning 77

O'Reilly on Data

JULY 28, 2020

Product Managers are responsible for the successful development, testing, release, and adoption of a product, and for leading the team that implements those milestones. This isn’t always simple, since it doesn’t just take into account technical risk; it also has to account for social risk and reputational damage.

Marketing 362

Marketing Experimentation Metrics Testing 362

CIO Business Intelligence

JULY 31, 2023

As vendors add generative AI to their enterprise software offerings, and as employees test out the tech, CIOs must advise their colleagues on the pros and cons of gen AI’s use as well as the potential consequences of banning or limiting it. The CIO’s job is to ask questions about potential scenarios. This is an issue for CIOs.

Strategy 97

Strategy Risk Enterprise Risk Management 97

IBM Big Data Hub

JULY 11, 2023

Artificial intelligence is used in healthcare for everything from answering patient questions to assisting with surgeries and developing new pharmaceuticals, benefitting both patients and healthcare systems. How does artificial intelligence benefit healthcare?

Deep Learning 57

Deep Learning Cost-Benefit Insurance Machine Learning 57

erwin

JANUARY 24, 2019

With an automation framework, data professionals can meet these needs at a fraction of the cost of the traditional manual way. So without further ado, here are the five key benefits of an automation framework for data governance. Benefits of an Automation Framework for Data Governance.

Data Governance 71

Data Governance Metadata Data-driven Cost-Benefit 71