AI in Risk? Myths vs. Application
The Risk Management Innovation Platform (IP) was founded in 2004 by McKinsey & Company to discuss innovative ideas and develop them to eventually put them into practice. Very quickly, the IP began to involve practitioners from the financial industry and academics who regularly engage in inspiring and lively discussions on riskmanagement- related topics. The IP has since developed into a series of regular meetings in the form of workshops and open discussion forums. Following seven successful years, the IP expanded further in 2011.
It is now jointly conducted with the Frankfurt Institute for Risk Management and Regulation (FIRM) as a contribution from McKinsey to FIRM’s broader platform promoting development and research in risk management and the education of young professionals for the German financial sector. The IP is open to all members of FIRM and its academic affiliates.
This next session will cover the following topics:
- Impact of machine learning on fraud in the financial services sector (Lutz Schiermeyer, Feedzai)
- Yield curve fitting with AI (Dr. Achim Posthaus, Frankfurt School of Finance and Management)
- Keynote: Advanced analytics and machine learning in risk (Tomas Klenke, Commerzbank)
- Non-financial risk analytics: Contextual analysis / semantic review (Adnan Kuses, Deutsche Bank)
- Application of AI: Effetcs for financial players and how to manage corresponding risks (Roger Burkhardt, QuantumBlack)
The IP starts with an introductory plenary session to present the topics of the day, followed by breakout sessions to allow for smaller group discussions and open debate. The presentations are explicitly meant to invite open debate and should pose challenging and provocative ideas. Joint wrap-ups in the plenary and intermediate coffee breaks allow participants to stay informed about the results of the breakouts they were not able to join. The half-day session is followed by a joint dinner during which participants have an opportunity to continue their discussions and network among each other.
Find more information here: Innovation Platform in Frankfurt.