Smart Data Collective

OCTOBER 26, 2023

AI poses a number of benefits and risks for modern businesses. AI technology is helping with cybersecurity in a myriad of ways. A successful breach can result in loss of money, a tarnished brand, risk of legal action, and exposure to private information. One of the most striking examples is in the field of cybersecurity.

Technology 93

Technology Risk Measurement IoT 93

Decision Management Solutions

APRIL 23, 2019

In February, we published a blog post on “Using Technology to Add Value in Insurance”. In that post, I referenced Matt Josefowticz’s article – Technology May be the Answer for Insurers, but What Was the Question? , Let’s dive into greater detail on the second lever – Manage Risk Better.

Insurance 69

Insurance Risk Technology Management 69

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;

Risk 78

Risk Modeling Risk Management Measurement 78

Smart Data Collective

OCTOBER 13, 2021

The market for AI technology is growing remarkably. While marketing remains relevant and essential, AI technology provides endless opportunities that create a massive edge between you and your competitors. AI technology helps businesses respond to change and new business opportunities effectively. Leverage innovation.

Technology 122

Technology Cost-Benefit Experimentation Machine Learning 122

CIO Business Intelligence

DECEMBER 19, 2023

This year’s technology darling and other machine learning investments have already impacted digital transformation strategies in 2023 , and boards will expect CIOs to update their AI transformation strategies frequently. I wrote in Driving Digital , “Digital transformation is not just about technology and its implementation.

Digital Transformation 142

Digital Transformation Unstructured Data Machine Learning Risk Management 142

CIO Business Intelligence

DECEMBER 14, 2023

AI and machine learning (ML) can do this by automating the design cycle to improve efficiency and output; AI can analyze previous designs, generate novel design ideas, and test prototypes, assisting engineers with rapid, agile design practices. Generative AI can help mitigate these often serious risks. Artificial Intelligence

Manufacturing 138

Manufacturing Cost-Benefit Unstructured Data Optimization 138

Cloudera

MARCH 28, 2019

For all the advances in big data, machine learning and computational simulation in the decade since the global financial crisis, incumbent banks, still preoccupied with the twin imperatives of ever-tougher regulatory compliance and boosting shareholder returns, are playing catch-up in their adoption of new technologies. Risk management 3.0.

Risk 72

Risk Management Risk Management Machine Learning 72

DataRobot

OCTOBER 5, 2021

But the technology’s ability to unleash rapid impact with great scope and unique dimensions can also increase organizational risk. For companies implementing AI systems, that risk extends beyond revenue to the reputational damage of using an algorithm that is perceived to be discriminatory or harmful to vulnerable groups.

Risk Management 95

Risk Management Testing Risk Data Science 95

IBM Big Data Hub

FEBRUARY 13, 2024

Key considerations: Tech stack: Ensure your existing technology infrastructure can handle the demands of AI models and data processing. Generative AI use cases Excitement about this new technology has spread quickly throughout various industries and departments. Garbage in, garbage out.

Enterprise 122

Enterprise Modeling Testing Data-driven 122

CIO Business Intelligence

MARCH 15, 2023

Explosive technology innovations. Generational shifts in technological expectations. Security implications of ChatGPT and its ilk ChatGPT and other generative AI technologies have taken the world by storm, but the combination of their sudden popularity and a general lack of understanding of how they work is a recipe for disaster.

Digital Transformation 121

Digital Transformation Risk Risk Management Strategy 121

CIO Business Intelligence

SEPTEMBER 7, 2023

Additionally, related issues during use are risk of hallucinations and prompt engineering. Exploiting technology vulnerabilities. Additionally, it’s paramount within the financial services sector to ensure responsible AI and adherence to regulatory guidance for model risk.

Risk Management 89

Risk Management Risk Testing Digital Transformation 89

IBM Big Data Hub

APRIL 4, 2024

Lots of innovation is happening, with new technologies emerging in areas such as data and AI, payments, cybersecurity and risk management, to name a few. Most of these new technologies are born-in-cloud. A third-party risk management review, where the ISV needs to describe how it is complying to required controls.

Cost-Benefit 59

Cost-Benefit Risk Management Risk Digital Transformation 59

CIO Business Intelligence

FEBRUARY 20, 2024

Tom Nall, Global Manufacturing and Automotive Industry Executive at Avanade, an expert in Microsoft technology, explains: “Microsoft Copilot applies an organisation’s data and Microsoft application ecosystem to a large language model. Supply chain optimisation. Workforce empowerment. Visit: [link] Avanade is attending Hanover Messe 2024.

Manufacturing 92

Manufacturing Sales Risk Management Forecasting 92

CIO Business Intelligence

JANUARY 11, 2024

CIOs are under increasing pressure to deliver AI across their enterprises – a new reality that, despite the hype, requires pragmatic approaches to testing, deploying, and managing the technologies responsibly to help their organizations work faster and smarter. The top brass is paying close attention.

Enterprise 120

Enterprise Uncertainty Risk Management Reporting 120

CIO Business Intelligence

OCTOBER 17, 2022

DORA’s uniform requirements for the security of network and information systems encompass not only enterprises in the financial sector, but also critical third-party vendors providing information and communications technology–related services to the financial sector, such as cloud platforms and data analytics.

Risk Management 102

Risk Management Risk Enterprise Testing 102

CIO Business Intelligence

DECEMBER 7, 2023

In his current role as chief information and digital officer at WestRock, he’s responsible for developing and executing global information systems, technology, and cybersecurity strategy in addition to leading the company’s digital transformation. Space to take some risk and try new things has to be an expectation.

Testing 104

Testing Risk Marketing IoT 104

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 122

ROI IT Manufacturing Metrics 122

CIO Business Intelligence

APRIL 5, 2024

Many of the bills are targeted both at the developers of AI technologies and the organizations putting AI tools to use, says Mahdavi, a lawyer with global law firm BCLP, which has established an AI working group. Last year, the Connecticut General Assembly passed Senate Bill 1103 , which regulates state procurement of AI tools.

Risk 118

Risk Interactive Insurance Strategy 118

CIO Business Intelligence

JANUARY 18, 2024

Optimism aside, the true test is in how well organizations will master the changes to the nature of work that AI enables. Nearly a third (29%) of CEOs are dissatisfied with their organization’s speed of innovation, capabilities in risk management, and talent acquisition and retention rates.

Finance 124

Finance Machine Learning Risk Management Optimization 124

CIO Business Intelligence

MAY 11, 2022

Technology touches all stakeholders. Asking the right questions to understand the business’ strategy and implementing architecture that supports the technology of the future is fundamental. Implement more disciplined validation and testing. While technology is a driver for business resilience, it is not the only driver.

Management 93

Management Testing Insurance Finance 93

CIO Business Intelligence

JUNE 8, 2023

Businesses are looking for tech pros with highly specialized skills, as they embrace digital transformation and increasingly rely on technology for core business. The demand for project managers has grown, with salaries for this role increasing by 15.6% percent since 2021, according to Dice.

IT 139

IT Digital Transformation Software Risk 139

CIO Business Intelligence

JULY 31, 2023

Some companies have lifted their bans and are allowing limited use of the technology; others have not. 1 question now is to allow or not allow,” says Mir Kashifuddin, data risk and privacy leader with the professional services firm PwC US. Many companies are sitting in the middle of the do-we-block-it-or-do-we-allow-it discussion.”

Strategy 98

Strategy Risk Enterprise Risk Management 98

CIO Business Intelligence

APRIL 21, 2022

Achieving business transformation and agility requires commitment from leadership at the very top of an organization, including C-suite, business and technology leaders. In terms of relative significance, software development, testing and implementation are all considered equal. Collaborate comprehensively .

Digital Transformation 139

Digital Transformation Key Performance Indicator Risk Testing 139

CIO Business Intelligence

APRIL 14, 2023

But just like other emerging technologies, it doesn’t come without significant risks and challenges. According to a recent Salesforce survey of senior IT leaders , 79% of respondents believe the technology has the potential to be a security risk, 73% are concerned it could be biased, and 59% believe its outputs are inaccurate.

Risk 121

Risk Experimentation Marketing Risk Management 121

IBM Big Data Hub

AUGUST 18, 2023

The Digital Operational Resilience Act , or DORA, is a European Union (EU) regulation that created a binding, comprehensive information and communication technology (ICT) risk-management framework for the EU financial sector. It offers more control and flexibility for comprehensive testing and validation.

Cost-Benefit 78

Cost-Benefit Testing Strategy Risk Management 78

O'Reilly on Data

DECEMBER 12, 2019

1] This includes C-suite executives, front-line data scientists, and risk, legal, and compliance personnel. These recommendations are based on our experience, both as a data scientist and as a lawyer, focused on managing the risks of deploying ML. 6] Debugging may focus on a variety of failure modes (i.e., Sensitivity analysis.

Machine Learning 191

Machine Learning Modeling Testing Risk Management 191

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. 4 But is it too broad to be useful?

Risk 359

Risk Modeling Data Processing Software 359

Smart Data Collective

SEPTEMBER 17, 2020

Financial institutions such as banks have to adhere to such a practice, especially when laying the foundation for back-test trading strategies. Here are a few of the advantages of Big Data in the banking and financial industry: Improvement in risk management operations. The Role of Big Data. Engaging the Workforce.

Big Data 141

Big Data Finance Risk Management Risk 141

IBM Big Data Hub

JANUARY 30, 2024

Finance: Optimized for high-speed transactions and can assist in providing robust security, harnessing AI for fraud detection and real-time risk management. Retail: Manage e-commerce platforms, customer data analytics and supply chain logistics, where data analysis often must occur at the edge.

Manufacturing 77

Manufacturing Business Objectives Optimization Risk Management 77

CIO Business Intelligence

MARCH 13, 2024

Even though generative AI is a relatively new technology, it’s now difficult to imagine a world without it, given the impact it’s making, and the business value it can create. We’re seeing a 15 to 20% uplift of productivity across the board,” says Matt Barrington, EY’s Americas emerging technologies leader. for every $1 spent.

IT 128

IT Consulting Testing Cost-Benefit 128

Cloudera

AUGUST 25, 2020

In part II of the series, we sat down for an interview with Dr. Richard Harmon, Managing Director of Financial Services at Cloudera, to find out more about how the industry is adopting new technology. This is critically important for predicting risk exposures. You can catch-up and read part 1 of the series, here.

Prescriptive Analytics 68

Prescriptive Analytics Technology Machine Learning Risk 68

CIO Business Intelligence

OCTOBER 4, 2023

There’s also strong demand for non-certified security skills, with DevSecOps, security architecture and models, security testing, and threat detection/modelling/management attracting the highest pay premiums. Careers, Certifications, IT Skills, Technology Industry

Prescriptive Analytics 131

Prescriptive Analytics IT Machine Learning Risk 131

CDW Research Hub

MAY 24, 2021

Today’s digital risk and compliance profile requires developing an information security program based on a well-structured plan that includes people, processes and technologies, and focuses on the protection of information and information assets. Develop a security risk management program.

Risk Management 52

Risk Management Risk Unstructured Data Business Objectives 52

CIO Business Intelligence

APRIL 13, 2023

Gartner projects that spending on information security and risk management products and services will grow 11.3% To better focus security spend, some chief information security officers (CISOs) are shifting their risk assessments from IT systems to the data, applications, and processes that keep the business going.

IT 111

IT Cost-Benefit Risk Consulting 111

CIO Business Intelligence

APRIL 27, 2023

But despite the bumpy year, demand for technology skills remains strong, with the US tech unemployment rate dropping to 1.5% Companies can’t ignore digital transformation as technology continues to dominate nearly every aspect of business and daily-life. as of January. Average salary : US$153,354 Increase from 2021 : n/a 4.

IT 115

IT Software Risk Management 115

Cloudera

FEBRUARY 24, 2021

2021 is going to be the year when the financial services industry reckons with how these changes will play out, impacting business operations, processes, new technologies, and, of course, new regulations. Trend #1: The Crossroads of Risk Management and Emerging Technology.

Risk Management 58

Risk Management Risk Recreation/Entertainment Machine Learning 58

CIO Business Intelligence

JULY 7, 2023

Rona Bunn is CIO for the National Association of Corporate Directors (NACD), where she facilitates digital orchestration and leads information technology, data, and digital experience. And citizens and employees rely on the board to ensure the management team will treat them right and have their best interests in mind.

Risk 114

Risk Finance Technology Strategy 114