Will AI Replace Your Risk Management Analytics?

Dr. Andrew Jennings, Senior VP of Scores and Analytics, FICO For the past few decades, analytics for risk management has meant business intelligence (BI) and predictive analytics, which for the current purpose I will also take to include optimisation, a.k.a. prescriptive analytics. Now the buzz around artificial intelligence, enhanced by popular myths around robots (thanks, Hollywood!), has created some confusion. Does AI replaces previous technologies, or work with them? How will AI help us in risk management? There is no denying that AI and machine-learning technologies have piqued public interest. Impressive developments such as Google’s AlphaGo computer beating the Go world champion have captured everyone’s attention. In its original and basic form, AI is best described as a computerised system that has the ability to react to changes in its…

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