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Enhancing the risk management in various sectors through artificial intelligence
0
Zitationen
3
Autoren
2023
Jahr
Abstract
With the Introduction of Industry 4.0 which is all about Artificial intelligence Big data, IoT, robotics etc. every sector of the economy has moved towards technological up gradation, with the increasing complexity of risk in various Industries there is an increasing demand for creative ways to manage the risk. A tool which has the potential to help in the management of various types of risk is Artificial Intelligence. This paper reviews the role of Artificial intelligence in various types of risk management in the commercial world. The paper discusses the benefits of Al in the management of risk, including its ability to analyze risk in real time, accurate predictions and automated process of decision-making. The Study also discusses how various algorithms of Al contribute to risk management. The adoption of Al has proved to be bustling over time to time for the management of risk. Further this paper considers certain challenges faced by Al based risk management system and provides certain recommendations which can be adopted to make it more effective, more secured and transparent.
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