Basic Structure on Artificial Intelligence: A Revolution in Risk Management and Compliance

This paper discusses how risk assessment is changed through artificial intelligence (AI) solutions. The key AI strategies of benefit to risk management are first given a non-technical description. A study of the application of these methods to the risk management fields of credit risk, market risk, organizational risk, and enforcement is then presented, utilizing existing experience and empirical data. Further, this research will be concluded with some reflections on existing constraints and views on how in the short- to medium-term the sector is expected to evolve. Overall, an ambitious image of AI's position will be provided for risk management, but notice some realistic restrictions about effective data management practices, accountability and lack of requisite skill sets inside organizations.