Operational risk is a growing field because of the recent decades and numerous economic crises, and businesses are gradually realising that the more they invest in it, the less money they lose. The most important topic of the century is artificial intelligence, which spans all possible fields and offers quick, less expensive, and more accurate ways to complete tasks. This paper details the developments in the application of artificial intelligence technology for operational risk management. The qualitative study showed a lack of investment and a lack of information about advancements in AI technology that may be used for OpRisk controls. This automation is hampered by issues including a lack of human resource capabilities and giving other industries priority. Given the present AI solutions that enable the maturation of OpRisk controls and, consequently, limit losses from them, businesses must invest in the OpRisk departments.

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Artificial intelligence,Automation,Operational risk