Analytics Vidhya

DECEMBER 4, 2022

When too much risk is restricted to very few players, it is considered as a notable failure of the risk management framework. […]. The post XAI: Accuracy vs Interpretability for Credit-Related Models appeared first on Analytics Vidhya.

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Analytics Vidhya

APRIL 14, 2023

Imagine a world where predicting a patient’s risk of developing insomnia or other sleep disorders becomes as simple as analyzing their demographic, lifestyle, and health data. Thanks to an innovative medical study, we can now use Machine Learning (ML) models to predict insomnia accurately.

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Modeling Machine Learning Risk Technology 260

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?

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Risk Modeling IT Risk Management 111

CIO Business Intelligence

NOVEMBER 27, 2023

Developing and deploying successful AI can be an expensive process with a high risk of failure. Six tips for deploying Gen AI with less risk and cost-effectively The ability to retrain generative AI for specific tasks is key to making it practical for business applications. The possibilities are endless, but so are the pitfalls.

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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.

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CIO Business Intelligence

MARCH 18, 2024

There are a lot of risks and a lot of land mines to navigate,” says the analyst. Coming to grips with risk The first step in making any bet — or investment — is to understand your ability to withstand risk. We have been developing our own internal AI capability over the last few years using open-source models.

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Risk Cost-Benefit Testing Data Processing 130

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.

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IBM Big Data Hub

MARCH 27, 2024

As businesses make plans to mitigate climate risks such as extreme weather events, they have an opportunity to innovate with new business models and demonstrate leadership by implementing more sustainable practices. What is climate risk? To best prepare, organizations need to develop a climate risk strategy.

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Risk Forecasting Insurance Strategy 69

IBM Big Data Hub

OCTOBER 16, 2023

As more businesses use AI systems and the technology continues to mature and change, improper use could expose a company to significant financial, operational, regulatory and reputational risks. It includes processes that trace and document the origin of data, models and associated metadata and pipelines for audits.

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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.

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Risk Enterprise Strategy Snapshot 121

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.

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KDnuggets

MARCH 23, 2022

How sound risk management acts as a catalyst to building successful AI/ML models.

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Cloudera

OCTOBER 20, 2021

As part of these efforts, disclosure requirements will mandate that firms provide “the impact of a company’s activities on the environment and society, as well as the business and financial risks faced by a company due to its sustainability exposures.” What are the key climate risk measurements and impacts? They need to understand;

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Risk Modeling Risk Management Measurement 78

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.

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Risk Management Risk Modeling Management 86

CIO Business Intelligence

JUNE 9, 2023

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 We have to look at the data on which the model is trained, but also at how the algorithms are designed and the selection of functions. “We

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Risk Machine Learning Modeling Technology 103

IBM Big Data Hub

FEBRUARY 22, 2024

The rise of foundation models that power the growth of generative AI and other AI use cases offers exciting possibilities—yet it also raises new questions and concerns about their ethical design, development, deployment, and use. Known risks from prior or earlier forms of AI systems.

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Modeling Risk Strategy Enterprise 70

O'Reilly on Data

NOVEMBER 13, 2018

Considerations for a world where ML models are becoming mission critical. As the data community begins to deploy more machine learning (ML) models, I wanted to review some important considerations. Before I continue, it’s important to emphasize that machine learning is much more than building models. Model lifecycle management.

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Machine Learning Risk Management Statistics 220

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. What is GRC?

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Risk Risk Management Strategy Enterprise 103

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). For Shakespeare’s Juliet, not much.

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Risk Management Risk Management Technology 85

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.

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Modeling Cost-Benefit IT ROI 122

Analytics Vidhya

APRIL 4, 2024

Artificial intelligence (AI) researchers at Anthropic have uncovered a concerning vulnerability in large language models (LLMs), exposing them to manipulation by threat actors. Dubbed the “many-shot jailbreaking” technique, this exploit poses a significant risk of eliciting harmful or unethical responses from AI systems.

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Risk Modeling Analytics IT 284

CIO Business Intelligence

AUGUST 25, 2022

About 41% of boards of directors in enterprises, according to a survey spanning 273 respondents across US, Europe and APAC, viewed geopolitical power shifts and turbulence as one of the biggest risks to performance. Data sovereignty will be a key focus area for CIOs. These policies can lead to CIOs being mandated to buy from certain vendors.

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Risk Enterprise Reporting Technology 145

KDnuggets

MARCH 24, 2023

Adding embedding signals into generated text can help mitigate potential risks of plagiarism, misinformation, and abuse in large language models.

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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.

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Risk Management Risk Modeling Enterprise 64

IBM Big Data Hub

MAY 1, 2023

This wave of AI is attributable to what are known as foundation models. What are foundation models? As the name suggests, foundation models can be the foundation for many kinds of AI systems. Using machine learning techniques, these models apply information learned about one situation to another situation.

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Modeling Risk Machine Learning Technology 102

IBM Big Data Hub

MAY 8, 2023

This blog continues the discussion, now investigating the risks of adopting AI and proposes measures for a safe and judicious response to adopting AI. Risk and limitations of AI The risk associated with the adoption of AI in insurance can be separated broadly into two categories—technological and usage.

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IBM Big Data Hub

JUNE 19, 2023

Companies can manufacture products closer to the consumer, reducing the risk of disruption caused by natural disasters and geopolitical instability. The European Union and China are investing trillions in their economies to rebuild local industries and create a less risk-prone supply chain.

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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.

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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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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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CIO Business Intelligence

DECEMBER 19, 2023

Their steady income stream and relatively low risk compared to equities make them an especially important component of pension and retirement planning. Each type of issuer presents a different level of risk and tax treatment. Hexaware conducted extensive fine-tuning to adapt the model to different industries and company types. “We

Risk 52

Risk Cost-Benefit Unstructured Data Data-driven 52

TDAN

OCTOBER 17, 2023

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. Nonetheless, utilizing cloud computing carries potential risks that need to be addressed for sustainable […]

Risk 52

Risk Modeling Management Data Architecture 52

CIO Business Intelligence

OCTOBER 24, 2023

In light of this, developer teams are beginning to turn to AI-enabled tools like large language models (LLMs) to simplify and automate tasks. However, cloud-native application development can pose significant security risks as developers are often dealing with exponentially more cloud assets across multiple execution environments.

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