Artificial Intelligence and Machine Learning in Risk Management Models

This IDC Perspective discusses the benefits and challenges in using risk management models that are developed utilizing AI and ML."Taking advantage of AI and ML capabilities in the risk management model development process can produce significant improvements in model quality and timeliness of model results," says Sean O'Malley, research director, IDC Financial Insights' Worldwide Compliance, Fraud, and Risk Analytics Strategies.

Executive Snapshot

Situation Overview

• Model Development using AI/ML
• Use of Additional Data Sources
• Data Orchestration
• Real-Time Risk Management
• Model Risk Management and Model Governance
  • Transparency and Auditability of Models
• Dynamic Model Development
• Challenges

Advice for the Technology Buyer

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• Related Research
• Synopsis