CIO Business Intelligence

MARCH 18, 2024

But while there’s plenty of excitement and change underway, security risks and vulnerabilities have continued to follow right alongside that innovation. Digital operational resilience testing : Sets out guidance for testing of existing recovery strategies to identify potential vulnerabilities.

Risk Management 97

Risk Management Insurance Risk Testing 97

DataKitchen

OCTOBER 20, 2023

In this article, we explore the role of Payload DJs in addressing these complexities, illustrated with examples from industries like drug discovery and insurance. Payload DJs facilitate capturing metadata, lineage, and test results at each phase, enhancing tracking efficiency and reducing the risk of data loss.

Insurance 176

Insurance Metadata Data-driven Data Quality 176

Decision Management Solutions

MARCH 25, 2019

Nancy Casbarro and Deb Zawisa of Novarico recently published a new paper on Data Science in Insurance: Expansion and Key Issues subscription required) that was summarized in this nice little article on Dig-in 3 challenges facing insurers in data science implementation. 1 – Getting business buy-in. 2 – Attracting talent.

Insurance 75

Insurance Data Science Testing Modeling 75

Cloudera

FEBRUARY 4, 2021

Financial services institutions need the ability to analyze and act on massive volumes of data from diverse sources in order to monitor, model, and manage risk across the enterprise. They need a comprehensive data and analytics platform to model risk exposures on-demand. Cloudera is that platform. End-to-end Data Lifecycle.

Risk 86

Risk Marketing Technology Management 86

Cloudera

OCTOBER 21, 2020

The Insurance industry is in uncharted waters and COVID-19 has taken us where no algorithm has gone before. Today’s models, norms, and averages are being re-written on the fly, with insurers forced to cope with the inevitable conflict between old standards and the new normal. . Insurers are thinking on their feet.

Insurance 71

Insurance Unstructured Data Digital Transformation Cost-Benefit 71

Decision Management Solutions

APRIL 15, 2019

In February, we published a blog post on “Using Technology to Add Value in Insurance.” In that post, I referenced Matt Josefowticz’s recent article – Technology May be the Answer for Insurers, but What Was the Question? , in which he argues that there are only three levers of value in insurance: 1. Sell More.

Insurance 63

Insurance Technology Predictive Analytics Sales 63

CIO Business Intelligence

OCTOBER 20, 2023

But home and automobile insurance company Allstate is taking a different approach. based insurer has rebuilt its core application for claims processing, sales, and support, and plans to overhaul its entire portfolio of business processes, all with the aim to enhance and accelerate the customer experience.

Digital Transformation 135

Digital Transformation Insurance Recreation/Entertainment Machine Learning 135

Corinium

JUNE 6, 2019

I am the Chief Practice Officer for Insurance, Healthcare, and Hi-Tech verticals at Fractal. The Insurance practice is currently engaged with several top 10 P&C insurers in the US, across the Insurance value chain through AI, Engineering, Design & Behavioural Sciences programs.

Insurance 250

Insurance Analytics Forecasting Deep Learning 250

CIO Business Intelligence

OCTOBER 18, 2023

Dutch insurance and asset management company Nationale-Nederlanden, part of the NN Group, has a presence in 19 countries and serves several million retail and corporate customers. The context tests us and it’s necessary to reinvent ourselves every day.”

Digital Transformation 112

Digital Transformation Insurance Interactive Sales 112

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 107

Risk Testing Insurance Cost-Benefit 107

CIO Business Intelligence

MARCH 12, 2024

When this happens, corporate risk is heightened as preemptive projects get delayed — sometimes for indefinite periods of time. CIOs can change this thinking by incorporating preemptive projects like disaster recovery into their corporate risk management strategies. The average cost of a data breach is $4.64

ROI 121

ROI IT Manufacturing Metrics 121

Smart Data Collective

APRIL 18, 2019

As AI begins to play a greater role in diagnosis and treatment for those with limited access to insurance and traditional healthcare, AI may also be able to help EHRs live up to their potential. Finally, AI-EHR partnerships may help solve one of the biggest issues with EHR software today – test submissions and results.

Risk 72

Risk Testing Software Insurance 72

CIO Business Intelligence

APRIL 5, 2024

Senate Bill 1047 , introduced in the California State Legislature in February, would require safety testing of AI products before they’re released, and would require AI developers to prevent others from creating derivative models of their products that are used to cause critical harms.

Risk 109

Risk Interactive Insurance Strategy 109

Smart Data Collective

MAY 10, 2022

For example, banks now apply AI to assess credit risks with high accuracy. They include; Credit risk assessment. Credit risk assessment entails estimating the probability of a prospective borrower failing to repay a loan. Backtesting refers to testing trading models based on historical data. AI in fintech is here to stay.

Marketing 110

Marketing Technology Insurance Machine Learning 110

CIO Business Intelligence

JULY 13, 2022

Across the globe, cloud concentration risk is coming under greater scrutiny. The proposal would grant authority to classify a third party as “critical” to the financial stability and welfare of the UK financial system, and then provide governance in order to minimize the potential systemic risk. We all know the drill. .

Insurance 84

Insurance Risk Marketing Data Processing 84

IBM Big Data Hub

APRIL 10, 2024

Organizations need full flexibility to address important questions, including: How soon can you test your hypothesis (such as how many geographies or which user personas)? Reduced risk and technical debt: All legacy releases are inherently risky due to a longer release cycle. Runtime modernization is a big step to curb such issues.

Cost-Benefit 97

Cost-Benefit Software Risk Marketing 97

Cloudera

JUNE 22, 2022

Across the globe, cloud concentration risk is coming under greater scrutiny. The proposal would grant authority to classify a third party as “critical” to the financial stability and welfare of the UK financial system, and then provide governance in order to minimize the potential systemic risk. We all know the drill. .

Insurance 82

Insurance Risk Marketing Data Processing 82

O'Reilly on Data

MAY 18, 2020

This article answers these questions, based on our combined experience as both a lawyer and a data scientist responding to cybersecurity incidents, crafting legal frameworks to manage the risks of AI, and building sophisticated interpretable models to mitigate risk. AI incidents, in other words, don’t require an external attacker.

Risk 359

Risk Modeling Data Processing Software 359

IBM Big Data Hub

SEPTEMBER 28, 2023

This process is designed to help mitigate risks so that model outputs can be deployed responsibly with the assistance of watsonx.data and watsonx.governance (coming soon). Building transparency into IBM-developed AI models To date, many available AI models lack information about data provenance, testing and safety or performance parameters.

Testing 94

Testing Finance Enterprise Modeling 94

CIO Business Intelligence

MAY 11, 2022

Implement more disciplined validation and testing. A more disciplined methodology to validation and testing is essential to sidestepping shortfalls in meeting business expectations. Testing and validation that back up technology assertions depended upon by stakeholders are elemental. Collaboration is an all-way street.

Management 85

Management Testing Insurance Finance 85

IBM Big Data Hub

FEBRUARY 13, 2024

Healthcare, insurance and education are more hesitant due to the legal and compliance efforts to which they must adhere—and the lack of insight, transparency and regulation in generative AI. Fraud detection and risk management : Generative AI can quickly scan and summarize large amounts of data to identify patterns or anomalies.

Enterprise 125

Enterprise Modeling Testing Data-driven 125

Cloudera

DECEMBER 11, 2020

Insurance and finance are two industries that rely on measuring risk with historical data models. To facilitate risk modeling in this new normal, agility and flexibility is required. Insurance . Data Variety. This will only become more important as we move into 2021 and a post-pandemic new normal.

Insurance 92

Insurance Digital Transformation Unstructured Data Machine Learning 92

Smart Data Collective

MARCH 7, 2021

There are a lot of ways companies are using new advances in machine learning and other data technologies to mitigate the risks of cyberattacks. After educating the employees about cybersecurity & cyberattacks, your job is to test how they fare. Cybersecurity Insurance. Cybersecurity insurance can help you tremendously.

Big Data 126

Big Data Insurance Data Processing Software 126

Cloudera

JUNE 13, 2023

The bank offerings include standard deposit and lending services, credit cards, wealth management, agribusiness finance and insurance, and foreign exchange services for other financial institutions. The approach offered lower risks and allowed for comprehensive platform and application testing.

Data-driven 76

Data-driven Analytics Insurance Digital Transformation 76

CIO Business Intelligence

OCTOBER 17, 2022

It’s designed to strengthen the security of EU financial firms, such as banks, insurance companies, investment firms and more, by imposing resilience requirements and regulating the supply chain. In fact, under DORA, the complexity of the supply chain or the lack of EU presence are both considered risk factors.

Risk Management 95

Risk Management Risk Enterprise Testing 95

Smart Data Collective

JANUARY 17, 2020

From predicting risk factors to helping cure disease, Big Data in healthcare is multi-faceted. This can help keep allergies, history, test results, and any other essential information completely accessible. Better Security and Fraud Prevention : Health insurance fraud is more common than you might think.

Big Data 106

Big Data Insurance Risk Testing 106

CIO Business Intelligence

MARCH 13, 2024

We did side-by-side testing,” he says. In testing, gen AI was also particularly good at generating test cases and creating dummy data for testing. We got 600 people together to test gen AI in a sandbox to try different use cases in 54 different categories.”

IT 124

IT Consulting Testing Cost-Benefit 124

O'Reilly on Data

OCTOBER 22, 2020

banking, insurance, etc.), That said, the risks involved require a very careful evaluation of the processes used to generate, test, and deploy those models, particularly in cases where there are significant public risks involved in any of the aforementioned steps. “If I found this can be a difficult question to ask.

Consulting 296

Consulting Risk Cost-Benefit Modeling 296

CIO Business Intelligence

JUNE 7, 2022

Prescriptive analytics is a type of advanced analytics that involves the application of testing and other techniques to recommend specific solutions that will deliver desired outcomes. It is frequently used for risk analysis. In business, predictive analytics uses machine learning, business rules, and algorithms.

Data Analytics 127

Data Analytics Diagnostic Analytics Management Analytics 127

IBM Big Data Hub

JANUARY 18, 2024

While overseas enterprises offer outsourcing options for some of these functions, using them might have significant costs and risks, reducing your control over your brand’s customer interactions. Run fast messaging tests You can conduct A/B tests on your chatbots to identify the most effective messaging.

Cost-Benefit 95

Cost-Benefit Interactive Sales Insurance 95

IBM Big Data Hub

JULY 11, 2023

AI-enabled robots can work around sensitive organs and tissues, reducing blood loss, infection risk and post-surgery pain. Census Bureau , 28 million Americans didn’t have health insurance in 2020, and even those with insurance don’t always have coverage for every type of screening they need.

Deep Learning 59

Deep Learning Cost-Benefit Insurance Machine Learning 59

CIO Business Intelligence

MARCH 20, 2024

Testing vendor solutions. Risk considered in vendor contracts. Cyber insurance. Incident response plans. Training and awareness. Encryption. Anti-virus. Authentication. Data at rest. Data in motion. State actors. The attack surface. This is hardly simple.

IoT 64

IoT Unstructured Data Insurance Data Processing 64

DataRobot

AUGUST 9, 2021

General Data Protection Regulation, California Consumer Privacy Act, SR 11-7 Guidance on Model Risk Management, etc). A growing number of businesses in the financial sector, such as banks, insurance, and payment card companies, may be liable for hefty fines and penalties due to non-compliance with standard industry regulations.

Machine Learning 52

Machine Learning Risk Testing Insurance 52

Smart Data Collective

MARCH 29, 2023

A couple of weeks ago, General Motors started testing the benefits of ChatGPT in its products. AI can even be used for insurance programs that monitor driver behavior to calculate risks and costs. However, we have quickly realized that ChatGPT has benefits that go well beyond writing more efficiently.

Manufacturing 97

Manufacturing Cost-Benefit Machine Learning Optimization 97

CIO Business Intelligence

MARCH 7, 2024

Public LLMs in the sandbox: Safely test publicly available Large Language Models (LLMs) in a sandbox environment, separate from the production setting, to assess their impact without risking operational disruptions. Many businesses are in the exploratory phases, creating unique business cases and testing their theory on uses.

Digital Transformation 72

Digital Transformation Machine Learning Risk Testing 72

IBM Big Data Hub

FEBRUARY 14, 2024

They can streamline workflows to increase efficiency and reduce time-consuming tasks and the risk of error in production, support, procurement and other areas. ML algorithms can predict patterns, improve accuracy, lower costs and reduce the risk of human error. ML can also conduct algorithmic trading without human intervention.

Cost-Benefit 88

Cost-Benefit Insurance Unstructured Data Machine Learning 88

CIO Business Intelligence

OCTOBER 18, 2023

But if there are any stop signs ahead regarding risks and regulations around generative AI, most enterprise CIOs are blowing past them, with plans to deploy an abundance of gen AI applications within the next two years if not already. Still, as Whyde concedes, “some of the concern around risk of adoption of AI is distressing.”

Risk 132

Risk Manufacturing Enterprise Technology 132