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Roadmap for Risk Management Integration Using AI

Author

Listed:
  • Petya Biolcheva
  • Evgeni Valchev

Abstract

Modern risk management shows a necessity for high-end technologies in the form of various artificial intelligence tools to be approved. AI integration projects are still distrusted by many business organizations and others are failing. To facilitate this process this paper presents a roadmap for the integration of AI risk management covering all activities and processes in organizations. Here, the individual steps from the awareness of the need for AI in risk management, through the required analyses, preparatory and executive stages, the specific application of artificial intelligence in the individual stages of risk management, to its full implementation and guaranteed functionality, are successively revealed. The purpose of the material is to illustrate the overall process of integration of risk management, through artificial intelligence, thereby increasing the trust and success of company projects in this area. JEL classification numbers: O17, O21, L86.

Suggested Citation

  • Petya Biolcheva & Evgeni Valchev, 2022. "Roadmap for Risk Management Integration Using AI," Journal of Risk & Control, SCIENPRESS Ltd, vol. 9(1), pages 1-2.
    • Handle: RePEc:spt:rmkjrc:v:9:y:2022:i:1:f:9_1_2
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    References listed on IDEAS

    as
    1. Rafika Thabet & Dominik Bork & Amine Boufaied & Elyes Lamine & Ouajdi Korbaa & Hervé Pingaud, 2021. "Risk-aware business process management using multi-view modeling: method and tool," Post-Print hal-03202277, HAL.
    2. Andrew Burgess, 2018. "The Executive Guide to Artificial Intelligence," Springer Books, Springer, number 978-3-319-63820-1, March.
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    More about this item

    Keywords

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    JEL classification:

    • O17 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Formal and Informal Sectors; Shadow Economy; Institutional Arrangements
    • O21 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Planning Models; Planning Policy
    • L86 - Industrial Organization - - Industry Studies: Services - - - Information and Internet Services; Computer Software

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