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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 Leverage Machine Learning for AML Compliance

BizAcuity

Anti-Money Laundering (AML) is increasingly becoming a crucial branch of risk management and fraud prevention. Widely used to discover trends, patterns, check assumptions and spot anomalies or outliers, EDA involves a variety of techniques including statistical analysis, and machine learning to gain a better understanding of data.

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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. Widely used to discover trends, patterns, check assumptions and spot anomalies or outliers, EDA involves a variety of techniques including statistical analysis, and machine learning to gain a better understanding of data.

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What to Do When AI Fails

O'Reilly on Data

And last is the probabilistic nature of statistics and machine learning (ML). Most AI models decay overtime: This phenomenon, known more widely as model decay , refers to the declining quality of AI system results over time, as patterns in new data drift away from patterns learned in training data. How Material Is the Threat?

Risk 357
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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.

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Why you should care about debugging machine learning models

O'Reilly on Data

That’s where model debugging comes in. Model debugging is an emergent discipline focused on finding and fixing problems in ML systems. In addition to newer innovations, the practice borrows from model risk management, traditional model diagnostics, and software testing. Sensitivity analysis.