Transformative ability of Artificial Intelligence in Risk Management
Gurung, Ambika (2024)
Gurung, Ambika
2024
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2024052315145
https://urn.fi/URN:NBN:fi:amk-2024052315145
Tiivistelmä
This research paper critically assesses how Artificial Intelligence (AI) is changing the way risk management is conducted. By using AI technologies companies can go beyond risk management approaches improving their ability to predict outcomes operate more efficiently and adapt strategically. The study delves into how AI's being integrated into risk management processes highlighting both the benefits and challenges. Through an examination that include, in-depth exploration of studies this research aims to offer valuable recommendations on how organizations can effectively utilize AI technologies to navigate complex risk landscapes. It establishes a framework for evaluating the impact of AI on risk management showing that AI powered systems greatly enhance real time data processing, accuracy in risk assessment and proactive management strategies. However, it also points out obstacles like transparency problems ethical dilemmas and the need, for oversight to ensure fairness and prevent biases. By synthesizing these insights, the paper emphasizes the importance of implementing AI in risk management to improve decision making processes and organizational resilience. The information shared enhances comprehension of how AI can transform risk management providing insights, for advancing theory and applying it in the field.