Machine learning & AI

EU, US ready common code of conduct on artificial intelligence

The European Union and the United States said Wednesday that they would soon release a voluntary code of conduct on artificial intelligence, hoping to develop common standards among democracies as China makes rapid gains.

Business

The AI-driven evolution of banks

AI-driven transformation continues to accelerate. In this phase, banks are faced with new challenges and opportunities, which force them to pay attention to a plurality of aspects, all transversally crossed by a major cultural ...

Business

ChatGPT: How to use AI as a virtual financial adviser

From chatbots and virtual assistants to fraud detection and risk management, artificial intelligence (AI) is now being used in many areas of finance. But what could an AI system like ChatGPT do for your bank balance?

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Risk

Risk is a concept that denotes the precise probability of specific eventualities. Technically, the notion of risk is independent from the notion of value and, as such, eventualities may have both beneficial and adverse consequences. However, in general usage the convention is to focus only on potential negative impact to some characteristic of value that may arise from a future event.

RISK can be defined as “the threat or probability that an action or event will adversely or beneficially affect an organisation's ability to achieve its objectives”[1]. In simple terms risk is ‘Uncertainty of Outcome’, either from pursuing a future positive opportunity, or an existing negative threat in trying to achieve a current objective.

This text uses material from Wikipedia, licensed under CC BY-SA