The Future Of Machine Learning (ML) and Artificial Intelligence (AI) in Risk-Management

Registration ID: IJNRD_211882

Published ID: IJNRD2312436

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Nihar Gandhi

Artificial intelligence, Machine learning, Risk, Taxonomy of risks, Systematic risk, Unsystematic risks, Credit risk, Market risk, Liquidity risk, Operational risk, Interest rate risk, Value-at-risk, Risk management, Supervised Learning, Unsupervised learning, Reinforcement learning, Deep learning, Neural networks, Natural language processing (NLP), Big data, Credit risk modelling, Fraud detection, Algorithmic trading, Regtech, Anomaly detection.

Abstract There are many different kinds of risks faced by firms and individuals presenting a need for sound risk-management techniques as to avoid unforeseen losses and inefficiency of decision making. Over the years a lot of traditional methods have been used by financial risk managers and developments on them have never stopped. However, in recent years a breakthrough has occurred with the introduction of Machine Learning (ML) and Artificial Intelligence (AI). The way how risks are being managed now and will be in the future have significantly and will continue to transform. The extreme volumes and complexity of modern data have made machine interventions not voluntary but kept firms under the heel of machine intelligence. The paper starts by illustrating the taxonomy of risks, the need for risk-management and how risks are traditionally managed. Then a detailed description of Machine learning is made, followed by the application of machine learning in risk-management. Further the benefits and limitations of not applying human intelligence are analysed with the use of examples. Then the consequences are evaluated leading to the thought of the future of machine learning in risk-management and supported by a real-life primary data survey carried out to test the hypothesis.

Published Paper   E-Certificate

Nihar Gandhi (December-2023). The Future Of Machine Learning (ML) and Artificial Intelligence (AI) in Risk-Management. INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT, 8(12), e392-e414. https://ijnrd.org/papers/IJNRD2312436.pdf

Volume 8 Issue 12, December-2023

Pages : e392-e414

Paper Reg. ID: IJNRD_211882

Published Paper Id: IJNRD2312436

Downloads: 000122257

Research Area: Commerce

Author Type: Indian Author

Country: Mumbai, Maharashtra , India

Published Paper PDF: https://ijnrd.org/papers/IJNRD2312436.pdf

Published Paper URL: https://ijnrd.org/viewpaperforall?paper=IJNRD2312436

Journal Name: INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT(IJNRD)

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