Scientific journal paper Q2
Contributions of artificial intelligence in operational risk management
Maria Carolina Carvalho (Carvalho, M. C.); Rui Gonçalves (Gonçalves, R.); Renato Lopes da Costa (Lopes da Costa, R.); Leandro F. Pereira (Pereira, L.); Álvaro Dias (Dias, Á.);
Journal Title
International Journal of Intelligent Information Technologies
Year (definitive publication)
2022
Language
English
Country
United Kingdom
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Abstract
Considering the last decades and several economic crises, Operational Risk is a rising area and companies are slowly realizing that the more they invest on it, the less profits they lose. Artificial Intelligence is the critical topic of the century, wide enough to cover all conceivable areas, bringing easy, cheaper, and more precise ways of doing tasks. This paper reflects the progresses of implementing Artificial Intelligence technologies in the control of Operational Risks. The qualitative research revealed the deficiency of investment, as well as the absence of information concerning the progresses on the AI technologies applicable to OpRisk controls. Obstacles as the lack of human resources capabilities and prioritising other sectors are impediments to this automation. Companies must invest in the OpRisk departments, considering the existing AI solutions that allow the maturation of OpRisk controls and, therefore, to mitigate losses that occur from them.
Acknowledgements
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Keywords
Artificial intelligence,Automation,Operational risk
  • Mathematics - Natural Sciences
  • Computer and Information Sciences - Natural Sciences
  • Other Social Sciences - Social Sciences