AI for risk management in financial services is already an imperative. In this article we offer practical steps for risk teams to move beyond the hype and make real progress in adopting AI for risk management.

Key takeouts

Utilising AI for risk management in financial services is already an imperative. Successful adopters are already realising a source of competitive advantage in the form of faster customer service and better risk outcomes.

By clarifying the business / risk management problem being solved and running AI pilots alongside traditional risk management processes, organisations should have confidence to embrace the potential of AI without fear of introducing new risks.

Creating the conditions for staff to test, learn and explore new applications will enable a risk function a

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