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A Tweet Data Analysis for Detecting Emerging Operational Risks

In: Mathematical and Statistical Methods for Actuarial Sciences and Finance

Author

Listed:
  • Davide Di Vincenzo

    (UniCredit S.p.A, Group Non Financial Risks)

  • Francesca Greselin

    (Univ. Milano Bicocca, Department of Statistics and Quantitative Methods)

  • Fabio Piacenza

    (UniCredit S.p.A, Group Non Financial Risks
    Univ. Milano Bicocca, Department of Statistics and Quantitative Methods)

  • Ričardas Zitikis

    (Western University, School of Mathematical and Statistical Sciences)

Abstract

Operational risk (OpRisk) is emerging as a crucial non financial consideration with widespread implications for financial institutions. Shifting away from traditional regulatory tasks, including data collection, capital requirement calculations, and report generation for managerial decisions, OpRisk functions are now adopting proactive strategies to prevent or mitigate risks. The integration of Artificial Intelligence techniques, increasingly essential for managerial insights, is utilized to glean additional information from data. This study propels the utilization of text analysis techniques in the context of OpRisk. A pioneering dimension involves examining pertinent tweet content from social media X for the continuous monitoring of the evolving risk landscape, aiming to identify early warnings about new types of potentially risky events.

Suggested Citation

  • Davide Di Vincenzo & Francesca Greselin & Fabio Piacenza & Ričardas Zitikis, 2024. "A Tweet Data Analysis for Detecting Emerging Operational Risks," Springer Books, in: Marco Corazza & Frédéric Gannon & Florence Legros & Claudio Pizzi & Vincent Touzé (ed.), Mathematical and Statistical Methods for Actuarial Sciences and Finance, pages 136-142, Springer.
  • Handle: RePEc:spr:sprchp:978-3-031-64273-9_23
    DOI: 10.1007/978-3-031-64273-9_23
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