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In this blog post inspired by our discussion with Loren Johnson, a renowned risk evangelist from Aravo, we discussed the integral role third parties play in your business strategies and the critical need for robust risk management and continuous monitoring.

Understanding Third-Party Risk Management

In today's competitive business environment, the term third-party risk has gained undeniable significance. Third-party risk refers to the potential threats or challenges that organizations face when ou

These days, data is as good as gold — and like gold, data is increasingly subject to rigorous government regulations. Around the world, local and national governments are passing legislation to control how businesses collect, use, and store different kinds of information, and the failure of businesses to comply with these new laws can result in severe consequences, including fines, lawsuits, and shutdowns. 

Because the landscape of data privacy regulations is relatively new and continuously evolv

Underwriters play a pivotal role in India's financial landscape, acting as a bridge between issuers and investors. They assess risks, guarantee funds, and ensure that capital flows smoothly into businesses looking to grow. But how do they operate within this intricate system? That’s where the Securities and Exchange Board of India (SEBI) steps in with crucial guidelines aimed at promoting transparent practices.

Understanding the functions of underwriters is essential for anyone interested in fina

Understanding Ransomware: The What and How

Ransomware has become one of the most prominent threats in the digital landscape today, representing a significant concern for businesses across various industries. At its core, ransomware is a type of malware that encrypts files on a victim's system, making them inaccessible until a ransom is paid for decryption. This malicious software not only targets individuals but also poses severe risks to corporations and critical infrastructure.

Definition of Ran

Understanding the Role of AI in Risk Management

The integration of Artificial Intelligence (AI) into enterprise risk management represents a transformative shift in how companies approach uncertainty and strategic planning. As organizations grapple with increasing complexities in their environments, AI emerges as a powerful tool that not only streamlines risk assessment but also enhances decision-making capabilities.

AI Integration in Risk Management Processes

AI offers a multifaceted approach to r

In 2024, the generative AI market was valued at USD 15.6 billion and is expected to soar to USD 81.1 billion by 2030, growing at a remarkable compound annual growth rate (CAGR) of 31.6% from 2024 to 2030. This surge in the market is attributed to its potential to revolutionize industries by opening new avenues for innovation and automation.

Generative AI encompasses a set of algorithms capable of creating realistic content by utilizing training data such as images, text, and audio. For instance,

To trust a machine, you must give it the care it needs, especially an automobile since it has over 30,000 spare parts that need to work simultaneously. In the case of automobiles, they are made to last more than a decade, but depending on the frequency of usage, wear and tear is always called for.

Original Equipment Manufacturers (OEMs) and dealers understand the importance of safety and have efficient models in place for vehicle owners. Based on a study conducted by the United States Department

The automated machine learning market is growing rapidly and is expected to reach $15,499.3 million by 2030. This growth is driven by the rising need for effective fraud detection, personalized product recommendations, and predictive lead scoring solutions.

Cloud computing is a key enabler of this growth, offering improved cost efficiency, agility, scalability, and optimized resource use. Unlike standalone technologies, cloud computing is a blend of components that together drive innovation and

In this blog post, inspired by our interview with Leonid Rozenberg, we discuss about the controversial topic of not relying on Antivirus. We discussed the hidden risks you might overlook with insights into the world of infostealers, which have the ability to bypass even the most robust security measures. Discover how these advanced threats affect businesses of all sizes and why relying solely on antivirus protection can be perilous.

Defining Info Stealer Malware and Its Tactics

Info Stealer ma

Don’t lose your job to AI, supercharge your risk management team and level up your AI skills with expert insights and hands-on workshops from industry-leading companies. Register now to benefit from early-bird discount.

Our aim is to empower risk management teams globally with actionable and simple case studies on AI application to improve risk management and decision making. The conference is designed to fit both new and mature risk professionals, from writing a simple risk policy in Gemini to r

I’ve done a fair share of hiring risk managers for myself and sometimes when friends CROs ask me to interview some candidates for them. I strongly believe these are the qualities a good risk manager should have. I am also one of the rare people who think accountants and lawyers do not turn into good risk managers, 99% of the time. Here are the questions I like to ask. Let me know how many would you feel comfortable answering right now and what other questions would you ask in the comments.

Profit

Every year I update my must read list for risk and insurance managers. Kahneman’s Thinking Fast and Slow has been there since the very beginning. A risk manager on my team just finished reading it and he used RAW@AI to summarise they key points for risk professionals. Enjoy!

1. The two systems – There are two ways of thinking: System 1 and System 2. System 1 is fast, automatic, and works without much effort. It’s the part of our brain that helps us make quick decisions. System 2 is slower, more deli

I believe there are 3 things risk managers of the future will be doing. Today, most of you are doing number 1, some, very few, are doing number 2 and almost no one is doing number 3. Risk managers of the future will be spending 50% of their time on number 3, 49% of their time on number 2 and 1% on number 1%. Risk managers of today are spending 95% on number 1, 5% on number 2 and 0% on number 3. No wonder executives see no value in risk management.

1. Maintaining an effective ERM (Enterprise Risk

Introducing a new avenue for investment, the Alternative Investment Fund (AIF) is a unique investment vehicle that aligns with select categories in the recent AIF regulations. This article serves as your gateway to understanding the potential of AIFs and their registration process, providing valuable legal guidance for establishing your own AIF.

When do I need to register an Alternative Investment Fund?

An Alternative Investment Fund is a type of investment that falls outside an investment portfol

How to Fix iPhone and iPad App Store Not Downloading Issues

It can be very annoying to have problems with the App Store not allowing your iPhone or iPad to download apps. This issue can affect your productivity & keep you from downloading new apps or critical upgrades. Thankfully, there are a few troubleshooting methods that can fix the problem. We'll look at practical ways in this tutorial to assist you in getting your App Store back up & running. Recall that Techdrive Support is there to help y

Key Performance Indicators (KPIs) are essential for businesses to measure and track progress toward specific objectives. They are quantifiable metrics that provide insights into how effectively a company achieves its goals. Whether applied at the organizational, team, or individual level, are a guiding framework that help align efforts with strategic business priorities.

At their core, KPIs are more than just numbers; they reflect a company’s success in achieving targets or focus points for areas

Managing and connecting effectively with databases is absolutely vital for companies of all kinds in the data-driven environment of today. Conventional database management chores like query creation, performance optimization, security assurance, can be difficult and time-consuming. Now enter GenSQL, a ground-breaking generative artificial intelligence made especially for databases. 

This innovative technology promises to revolutionize our interactions with the management of databases, facilitatin

In every organization, social networks are the connective tissue that binds people together, shaping how they communicate, collaborate, and innovate. Within these networks, certain individuals, known as energizers, have a unique ability to inspire and motivate those around them, creating a positive and productive environment. Conversely, de-energizers can drain the enthusiasm from a room, making work feel like a chore. Understanding these dynamics is where Social Network Analysis (SNA) proves in

The financial services industry has always been at the forefront of technological innovation, and 2024 is set to be another landmark year, mainly for generative AI in banking. As generative AI continues to evolve, its application within banking is becoming increasingly sophisticated, offering unprecedented opportunities to enhance security, improve customer experiences, and optimize operations. The rapid pace of AI innovation is reshaping how banks operate, engage with their customers, and manag

Understanding the Role of Process Taxonomy in Risk Management

Risk management within financial services requires a nuanced understanding of process taxonomy—essentially a structured classification of a business's processes. This taxonomy holds significant importance as it serves as the foundation for identifying and managing risks that organizations encounter amidst the complexities of their operations. A precise process taxonomy enables organizations to articulate not only what they do but also