ArtificiaI Intelligence and the Board Risk Committee by Isaac Alfon, senior risk practitioner and NEDonBoard member

The purpose of risk management in financial services is usually defined as to ‘protect and enable’. The ‘protect’ dimension can refer to the franchise value of the business but is mainly about protecting from regulatory intervention. ‘Enable’ has a perspective of value (however defined) and achievement of company objectives. AI-based solutions, leveraging on vast amounts of…