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Banks and financial institutions’ traditional model risk management (MRM) framework can be extended to handle and manage risks posed by artificial intelligence (AI).
However, banks will need to evolve and industrialize their MRM functions in the world of big data and AI since AI based models pose unique challenges in terms of business risk management. Banks will need to transform their MRM functions into using a new set of skills, tools and processes to help augment traditional capabilities.
Learn How AI is Transforming Model Risk Management by understanding:
- The Role MRM Plays in Banking AI Transformation
- Where MRM is Today with Managing AI Risk
- Where Do MRM Functions Go With AI From Here