Model risk in the age of generative AI
Banks race to understand risks posed by new breed of multi-purpose bots
The dizzying rise of artificial intelligence tools such as Anthropic’s Claude and OpenAI’s ChatGPT has risk managers wrestling with an existential question: when is a model not a model?
Banks are deploying generative AI for a growing number of tasks from the mundane to the miraculous: writing emails, assessing credit risk, predicting trade fails.
Executives are now having to decide whether
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