Risk Modeling: Practical Applications of Artificial Intelligence, Machine Learning, and Deep Learning (Wiley and SAS Business Series)

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Wiley

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A wide-ranging overview of the use of machine learning and AI techniques in financial risk management, including practical advice for implementation

Risk Modeling: Practical Applications of Artificial Intelligence, Machine Learning, and Deep Learning introduces readers to the use of innovative AI technologies for forecasting and evaluating financial risks. Providing up-to-date coverage of the practical application of current modelling techniques in risk management, this real-world guide also explores new opportunities and challenges associated with implementing machine learning and artificial intelligence (AI) into the risk management process.

Authors Terisa Roberts and Stephen Tonna provide readers with a clear understanding about the strengths and weaknesses of machine learning and AI while explaining how they can be applied to both everyday risk management problems and to evaluate the financial impact of extreme events such as global pandemics and changes in climate. Throughout the text, the authors clarify misconceptions about the use of machine learning and AI techniques using clear explanations while offering step-by-step advice for implementing the technologies into an organizations risk management model governance framework. This authoritative volume:

Highlights the use of machine learning and AI in identifying procedures for avoiding or minimizing financial risk
Discusses practical tools for assessing bias and interpretability of resultant models developed with machine learning algorithms and techniques
Covers the basic principles and nuances of feature engineering and common machine learning algorithms
Illustrates how risk modeling is incorporating machine learning and AI techniques to rapidly consume complex data and address current gaps in the end-to-end modelling lifecycle
Explains how proprietary software and open-source languages can be combined to deliver the best of both worlds: for risk models and risk practitioners

Risk Modeling: Practical Applications of Artificial Intelligence, Machine Learning, and Deep Learning is an invaluable guide for CEOs, CROs, CFOs, risk managers, business managers, and other professionals working in risk management.

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ISBN-10

1119824931

ISBN-13

978-1119824930

Publisher

Wiley

Price

43.91

File Type

PDF

Page No.

208

Terisa Roberts

...

From the Inside Flap

In Risk Modeling: Practical Applications of Artificial Intelligence, Machine Learning, and Deep Learning, distinguished risk and analytics professionals Terisa Roberts and Stephen J. Tonna deliver an innovative and insightful exploration of the latest artificial intelligence technologies used to forecast and evaluate financial risks. The authors offer up-to-date information on how to apply current modeling techniques in risk management, as well as new opportunities and challenges associated with the implementation of artificial intelligence (AI) and machine learning (ML) in the risk management process.

Youll learn the strengths and weaknesses of AI and ML where theyre applied to everyday risk management problems or to once-in-a-lifetime black swan events, like global pandemics or climate shocks. The authors clarify common misconceptions about AI and ML and offer step-by-step guidance to using the modern technologies within your organizations existing risk management framework.

The book provides practical tools for assessing bias and the interpretability of ML models. It also covers the basic principles of feature engineering and the most commonly used ML algorithms. The authors discuss how risk modeling incorporates AI and ML to rapidly process complicated data and fills the gaps currently existing in the end-to- end risk modeling lifecycle. Finally, Risk Modeling explains how proprietary software and open-source languages can be combined to deliver the best of both worlds for risk models and for risk practitioners.

Perfect for C-suite executives, risk managers, and other business leaders, Risk Modeling: Practical Applications of Artificial Intelligence, Machine Learning, and Deep Learning is also an indispensable resource for compliance officers and managers, as well as anyone else who seeks to apply the latest AI and ML learning techniques to solve or mitigate quantitative risk problems.

From the Back Cover

Praise for Risk Modeling

This book is highly accessible and directed at practitioners interested in the application of AI and ML in the financial services industry. I first met Terisa over twenty years ago and have marveled at her growth in the analytics space and ability to communicate regarding complex topics.
RAYMOND ANDERSON, Rayan Risk Analytics

This comprehensive text answers all the critical questions bankers have been asking around using AI and ML for risk modeling for years. It should be part of every risk modelers library.
NAEEM SIDDIQI, Senior Risk Advisor, SAS Institute

An ideal read for managers or senior managers in any financial institution. Roberts and Tonnas writing is clear, direct, accurate, and uses exactly the right level of technicality to get to each point.
ALAN FORREST, Advisory Senior Manager, Model Risk Oversight

"Machine Learning is disrupting the world of model and data governance. Roberts and Tonna succinctly describe how forward-looking organizations will pragmatically use these approaches to responsibly drive profits and gain a competitive advantage."
DAVID ASERMELY, Global Lead, Model Risk Management

Risk Modeling: Practical Applications of Artificial Intelligence, Machine Learning, and Deep Learning (Wiley and SAS Business Series)

Machine Learning

Artificial Intelligence

Deep Learning

Risk Management

Economics

Terisa Roberts

Wiley

Terisa Roberts

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