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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.

Risk 111
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How to use foundation models and trusted governance to manage AI workflow risk

IBM Big Data Hub

AI governance refers to the practice of directing, managing and monitoring an organization’s AI activities. It includes processes that trace and document the origin of data, models and associated metadata and pipelines for audits. Foundation models can use language, vision and more to affect the real world.

Risk 77
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How to Leverage Machine Learning for AML Compliance

BizAcuity

Anti-Money Laundering (AML) is increasingly becoming a crucial branch of risk management and fraud prevention. AML regulations and procedures help organizations identify, monitor, and report suspicious transactions and provide an additional layer of protection against financial crime.

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How to Leverage Machine Learning for AML Compliance

BizAcuity

Anti-Money Laundering (AML) is increasingly becoming a crucial branch of risk management and fraud prevention. AML regulations and procedures help organizations identify, monitor, and report suspicious transactions and provide an additional layer of protection against financial crime. Predictive Analytics. These include-.

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20 for 20: IRM Critical Capabilities & Top 20 Functions / Features

John Wheeler

We continue our “20 for 20” theme this year by highlighting the integrated risk management (IRM) critical capabilities and top 20 software functions / features. These five capabilities support both integrated view of strategic, operational and technology risk as well as the related business outcomes, processes and assets.

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What to Do When AI Fails

O'Reilly on Data

To date, at least 1,200 reports of AI incidents have been recorded in various public and research databases. All predictive models are wrong at times?—just As the renowned statistician George Box once quipped , “All models are wrong, but some are useful.” just hopefully less so than humans. How Material Is the Threat?

Risk 359
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11 most in-demand gen AI jobs companies are hiring for

CIO Business Intelligence

Responsibilities include building predictive modeling solutions that address both client and business needs, implementing analytical models alongside other relevant teams, and helping the organization make the transition from traditional software to AI infused software.