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To understand the risks posed by AI, follow the money

O'Reilly on Data

It’s difficult to argue with David Collingridge’s influential thesis that attempting to predict the risks posed by new technologies is a fool’s errand. However, there is one class of AI risk that is generally knowable in advance. It is a predictable economic risk.

Risk 229
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Risk Management for AI Chatbots

O'Reilly on Data

Welcome to your company’s new AI risk management nightmare. Before you give up on your dreams of releasing an AI chatbot, remember: no risk, no reward. The core idea of risk management is that you don’t win by saying “no” to everything. So, what do you do? I’ll share some ideas for mitigation.

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Should finance organizations bank on Generative AI?

CIO Business Intelligence

Financial organizations want to capture generative AI’s tremendous potential while mitigating its risks. In the finance and banking industry, however, organizations are seeking extra guidance on the best way forward. In the numerically based finance and banking industry, does generative AI have as much application potential?

Finance 129
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Making an AI Investment: How Finance Institutions are Harnessing the Power of AI and Generative AI

Cloudera

Traditional machine learning (ML) models enhance risk management, credit scoring, anti-money laundering efforts and process automation. Some of the biggest and well-known financial institutions are already realizing value from AI and GenAI: JPMorgan Chase uses AI for personalized virtual assistants and ML models for risk management.

Finance 70
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Hands-On Introduction to creditR: An Amazing R Package to Enhance Credit Risk Scoring and Validation

Analytics Vidhya

One of the biggest industries to be impacted – finance. The post Hands-On Introduction to creditR: An Amazing R Package to Enhance Credit Risk Scoring and Validation appeared first on Analytics Vidhya. Introduction Machine learning is disrupting multiple and diverse industries right now. Functions like fraud.

Risk 255
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Takeaways from NLP for Sustainable Finance (NLP4SF)

Dataiku

In July 2023, the Natural Language Processing for Sustainable Finance research group — NLP4SF — held its launch, and I had the privilege of attending.

Finance 64
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How Big Data Impacts The Finance And Banking Industries

Smart Data Collective

Typically, this approach is essential, especially for the banking and finance sector in today’s world. Right now, Big Data tools are continuously being incorporated in the finance and banking sector. Here are a few of the advantages of Big Data in the banking and financial industry: Improvement in risk management operations.

Big Data 142