DataRobot Blog

APRIL 29, 2022

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. What is a model?

Risk 111

Risk Modeling IT Risk Management 111

CIO Business Intelligence

NOVEMBER 27, 2023

Gen AI will become a fundamental part of how enterprises manage and deliver IT services and how business users get their work done. Developing and deploying successful AI can be an expensive process with a high risk of failure. Retraining creates expert models that are more accurate, smaller, and more efficient to run.

Risk 128

Risk Cost-Benefit Modeling Optimization 128

IBM Big Data Hub

APRIL 19, 2024

This blog series discusses the complex tasks energy utility companies face as they shift to holistic grid asset management to manage through the energy transition. Asset performance management (APM) processes, such as risk-based and predictive maintenance and asset investment planning (AIP), enable health monitoring technologies.

Management 91

Management Internet of Things Risk IoT 91

John Wheeler

NOVEMBER 24, 2020

However, for security and risk management professionals it can make a huge difference. Take for example the terms cyber risk, digital risk and the digitalization of risk management. Viewed together, the three terms represent key aspects of integrated risk management (IRM).

Risk Management 85

Risk Management Risk Management Technology 85

CIO Business Intelligence

MARCH 18, 2024

We need to be ready to respond to our CEO to solve problems with AI,” says Srini Gudipati, CIO of Covanta, a company that specializes in sustainable materials management, including large-scale recycling. There are a lot of risks and a lot of land mines to navigate,” says the analyst. The opportunity is too big. billion in 2024 to $521.0

Risk 130

Risk Cost-Benefit Data Processing Testing 130

DataRobot Blog

MAY 10, 2022

Addressing the Key Mandates of a Modern Model Risk Management Framework (MRM) When Leveraging Machine Learning . The regulatory guidance presented in these documents laid the foundation for evaluating and managing model risk for financial institutions across the United States.

Risk 64

Risk Modeling Machine Learning Data Quality 64

IBM Big Data Hub

MAY 4, 2020

Many financial firms are increasing their use of AI models because they can represent the real world more accurately, and they can deliver better projections than traditional, rule-based models. But some AI models can add complexity and risk.

Risk Management 85

Risk Management Risk Modeling Management 85

CIO Business Intelligence

FEBRUARY 20, 2024

While cloud risk analysis should be no different than any other third-party risk analysis, many enterprises treat the cloud more gently, taking a less thorough approach. Interrelations between these various partners further complicate the risk equation. That’s where the contract comes into play. Probably not.

Risk 121

Risk Enterprise Strategy Snapshot 121

Cloudera

JULY 15, 2021

We recently hosted a roundtable focused on o ptimizing risk and exposure management with data insights. For financial institutions and insurers, risk and exposure management has always been a fundamental tenet of the business. Now, risk management has become exponentially complicated in multiple dimensions. .

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Risk Optimization Management Insurance 96

DataRobot Blog

JUNE 27, 2022

In our previous two posts, we discussed extensively how modelers are able to both develop and validate machine learning models while following the guidelines outlined by the Federal Reserve Board (FRB) in SR 11-7. Monitoring Model Metrics.

Risk 59

Risk Modeling Metrics Measurement 59

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.

Risk Management 64

Risk Management Risk Modeling Enterprise 64

Alation

JANUARY 9, 2023

But data leaders must work quickly, and use the right tools, to understand, manage, and protect data while complying with related regulations and standards. The Increasing Focus On Data Risk Management. The Australian Prudential Regulation Authority (APRA) released nonbinding standards covering data risk management.

Risk Management 52

Risk Management Risk Management Metadata 52

DataRobot Blog

MAY 26, 2022

Last time , we discussed the steps that a modeler must pay attention to when building out ML models to be utilized within the financial institution. In summary, to ensure that they have built a robust model, modelers must make certain that they have designed the model in a way that is backed by research and industry-adopted practices.

Risk 52

Risk Modeling Metrics Business Objectives 52

CIO Business Intelligence

DECEMBER 28, 2023

The need to manage risk, adhere to regulations, and establish processes to govern those tasks has been part of running an organization as long as there have been businesses to run. Furthermore, the State of Risk & Compliance Report, from GRC software maker NAVEX, found that 20% described their programs as early stage.

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Risk Risk Management Strategy Enterprise 103

Smart Data Collective

AUGUST 27, 2020

One of the areas where cloud technology has had a large impact is with supply chain management. It’s important to know how to protect your own firm from spend risk, supply chain disruption while enhancing the company’s ability to thrive. Moving your supply chain model to the cloud could be one of the best ways to reduce these concerns.

Risk Management 105

Risk Management Risk Management Software 105

IBM Big Data Hub

JANUARY 28, 2020

Any financial services firm using AI must revisit its approach to model risk management. The reason is that AI models are evolving faster than the rules-based models that were standard previously. If AI models perform inadequately, major operational losses can grow quickly.

Risk 84

Risk Modeling Big Data Management 84

erwin

FEBRUARY 12, 2021

Managing an organization’s governance, risk and compliance (GRC) via its enterprise and business architectures means managing them against business processes (BP). Governance, risk and compliance are treated as isolated bubbles. Data-related risks are not connected with the data architects/data scientists.

Risk 98

Risk Slice and Dice Management Enterprise 98

Cloudera

OCTOBER 20, 2021

As governments gather to push forward climate and renewable energy initiatives aligned with the Paris Agreement and the UN Framework Convention on Climate Change, financial institutions and asset managers will monitor the event with keen interest. What are the key climate risk measurements and impacts? They need to understand; .

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Risk Modeling Risk Management Measurement 78

CIO Business Intelligence

JUNE 9, 2023

And many CIOs and other senior managers are aware of the problem, according to an international survey commissioned by Swedish software supplier Progress. Elisabeth Stjernstoft, CIO at Swedish energy giant Ellevio, agrees that there’s a risk of using biased data that’s not representative of the customer group or population being looked at. “It

Risk 103

Risk Machine Learning Modeling Technology 103

Domino Data Lab

JULY 14, 2022

The financial services industries are starting to realize the full import of the fact that, like household chores like dishwashing and garden work, ML models are never really done. Rather, AI and ML models need to be monitored for validity, and often, they also need to be re-explained and re-documented for regulators.

Insurance 98

Insurance Modeling Management Risk Management 98

O'Reilly on Data

OCTOBER 30, 2023

While I am heartened to hear that the Executive Order on AI uses the Defense Production Act to compel disclosure of various data from the development of large AI models, these disclosures do not go far enough. These include: What data sources the model is trained on. Operational Metrics. Policy on use of user data for further training.

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Measurement Risk Modeling Metrics 298

IBM Big Data Hub

APRIL 9, 2024

Preparing and annotating data IBM watsonx.data helps organizations put their data to work, curating and preparing data for use in AI models and applications. “For the Masters we use 290 traditional AI models to project where golf balls will land,” says Baughman. ” Watsonx.ai ” Watsonx.ai

Management 84

Management IT Machine Learning Metrics 84

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.

Risk 86

Risk Marketing Technology Management 86

CIO Business Intelligence

MARCH 25, 2024

Modern digital organisations tend to use an agile approach to delivery, with cross-functional teams, product-based operating models , and persistent funding. But to deliver transformative initiatives, CIOs need to embrace the agile, product-based approach, and that means convincing the CFO to switch to a persistent funding model.

Modeling 122

Modeling Cost-Benefit IT ROI 122

IBM Big Data Hub

JANUARY 26, 2024

Vegetation management aims to mitigate these risks. But what exactly does vegetation management mean? In this blog, we’ll explore the importance of vegetation management, its impact on multiple industries, the challenges it presents and how technology can streamline this manual and laborious process.

Management 68

Management Risk Data-driven Reporting 68

CIO Business Intelligence

FEBRUARY 27, 2024

Business needs first, then the lifecycle management program Your infrastructure lifecycle management program should be aligned with your organization’s growth roadmap. This will involve comprehensive and proactive infrastructure management. This creates risk for the company, shareholders, customers and their brand.

Technology 103

Technology Management Manufacturing Cost-Benefit 103

CIO Business Intelligence

DECEMBER 18, 2023

A primary fear is that employees, partners, and organizational stakeholders might share everything from private data to source code into public large language models (LLMs), expose proprietary information and intellectual property, or reveal vulnerabilities to exploit. So, simply blocking LLM access is not the right answer.

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Enterprise Management Risk Uncertainty 114

TDAN

OCTOBER 17, 2023

The worldwide shift toward cloud computing significantly changes how businesses approach data management and operation. Regardless of whether private, public, or hybrid cloud models are employed, the advantages of cloud computing are numerous, including heightened efficiency, reduced expenses, and increased flexibility.

Risk 52

Risk Management Modeling Data Architecture 52

IBM Big Data Hub

APRIL 8, 2024

In a world where every company is now a technology company, all enterprises must become well-versed in managing their digital products to remain competitive. In other words, they need a robust digital product lifecycle management (PLM) strategy. The new company’s data model is completely different from the original company.

Data-driven 59

Data-driven Management Data Governance Strategy 59

O'Reilly on Data

MARCH 31, 2020

If you’re already a software product manager (PM), you have a head start on becoming a PM for artificial intelligence (AI) or machine learning (ML). But there’s a host of new challenges when it comes to managing AI projects: more unknowns, non-deterministic outcomes, new infrastructures, new processes and new tools.

Management 332

Management Machine Learning Experimentation Metrics 332

Cloudera

MARCH 28, 2019

The trouble is, mortgage lenders persist in relying on historical macro-economic assumptions in their models so they risk repeating the errors of a decade ago when banks – and their regulators – failed to recognize the warning signs from a far richer source: low-level micro-economic data. Risk management 3.0.

Risk 72

Risk Management Risk Management Machine Learning 72

IBM Big Data Hub

MARCH 3, 2020

Many financial institutions are rapidly developing and adopting AI models. They’re using the models to achieve new competitive advantages such as being able to make faster and more successful underwriting decisions. However, AI models introduce new risks.

Risk Management 72

Risk Management Risk Modeling Management 72

Decision Management Solutions

APRIL 23, 2019

, in which he states there are only three levers of value in insurance: Sell More, Manage Risk Better (aka underwriting and adjusting), and Cost Less to Operate. Let’s dive into greater detail on the second lever – Manage Risk Better. Insurers can also manage risk more effectively through continuous improvement.

Insurance 69

Insurance Risk Technology Management 69

bridgei2i

JUNE 2, 2020

Episode 7: The Impact of COVID-19 on Financial Services & Risk. Management. The Impact of COVID-19 on Financial Services & Risk Management. As past data isn’t relevant anymore, current models aren’t going to work. Now, the first of those areas is definitely risk and portfolio management.

Risk Management 128

Risk Management Risk Enterprise Management 128

Domino Data Lab

AUGUST 6, 2021

All models require testing and auditing throughout their deployment and, because models are continually learning, there is always an element of risk that they will drift from their original standards. As such, model governance needs to be applied to each model for as long as it’s being used.

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Machine Learning Modeling Testing Risk 145

bridgei2i

SEPTEMBER 24, 2020

However, risk management is no way lagging. ERM or Enterprise Risk Management is being used to identify crises long before it blows up into a huge problem. AI is being used to assess, prioritize, and mitigate risks in the enterprise so that the business operations do not take a hit. Risk Management Model.

Risk Management 52

Risk Management Risk Enterprise Management 52

CIO Business Intelligence

NOVEMBER 16, 2023

A large language model (LLM) is a type of gen AI that focuses on text and code instead of images or audio, although some have begun to integrate different modalities. But there’s a problem with it — you can never be sure if the information you upload won’t be used to train the next generation of the model. Dig Security isn’t alone.

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Modeling Enterprise Marketing Sales 136