INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT International Peer Reviewed & Refereed Journals, Open Access Journal ISSN Approved Journal No: 2456-4184 | Impact factor: 8.76 | ESTD Year: 2016
Scholarly open access journals, Peer-reviewed, and Refereed Journals, Impact factor 8.76 (Calculate by google scholar and Semantic Scholar | AI-Powered Research Tool) , Multidisciplinary, Monthly, Indexing in all major database & Metadata, Citation Generator, Digital Object Identifier(DOI)
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.
"The Future Of Machine Learning (ML) and Artificial Intelligence (AI) in Risk-Management", International Journal of Novel Research and Development (www.ijnrd.org), ISSN:2456-4184, Vol.8, Issue 12, page no.e392-e414, December-2023, Available :http://www.ijnrd.org/papers/IJNRD2312436.pdf
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2456-4184 | IMPACT FACTOR: 8.76 Calculated By Google Scholar| ESTD YEAR: 2016
An International Scholarly Open Access Journal, Peer-Reviewed, Refereed Journal Impact Factor 8.76 Calculate by Google Scholar and Semantic Scholar | AI-Powered Research Tool, Multidisciplinary, Monthly, Multilanguage Journal Indexing in All Major Database & Metadata, Citation Generator
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