Managing risk within a bank is a massive undertaking. To stay relevant, today’s Chief Risk Officer must embrace artificial intelligence (AI) and machine learning. Unfortunately, many banks are struggling to understand what machine learning is, let alone how it can improve their risk management practices.
The good news is that technological advances in machine learning are bringing AI solutions into reach for everyone at a much lower cost and a much higher ROI. The bad news is that your competitors are racing to modernize their risk teams as well.
This report describes five key AI use cases that every Chief Risk Officer needs to address:
- Anti-Money Laundering and Know Your Customer
- Fraud Detection/Prevention
- Streamlining Model Risk Management
- Credit Risk & Loss Forecasting
- Targeted Risk Review