Are you involved in AI Risk Management and Governance within the Financial Services sector? We would like to invite you, or a qualified representative from your organization, to a high-impact roundtable discussion in New York City. This is an exclusive and off-the-record gathering, limited to a select group of 8-10...

Recently, we hosted a webinar on AI risk and governance based on the UK government’s recent consultation. Juan Martinez and Nik Richers from ValidMind led a Q&A that drew from our participation to highlight critical elements to advance trustworthy AI. Our webinar delved into broad themes such as: Watch the...

On September 8 2023, Scifn will be hosting the AI and Finance Summit, a full day of educational and insightful panels and lectures on the latest thinking and discussions at the intersection of artificial intelligence, generative AI and finance.  As part of this event,  ValidMind’s Co-Founder and Chief Product Officer, Mehdi...

The team at a16z, which includes Angela Strange, Anish Acharya, Sumeet Singh, Alex Rampell, Marc Andrusko, Joe Schmidt, David Haber, and Seema Amble, recently published their post Financial Services Will Embrace Generative AI Faster Than You Think. In this post, they outline what could be “the largest transformation the financial services market has seen in decades.“ The...

Introduction While Model Risk Management (MRM) principles are important, meeting the expectations set by regulators (FED 2011, PRA 2023) and fostering a robust risk management framework can be challenging or even confusing at times. We believe all MRM practitioners must develop a good understanding of these principles and actively implement...

Throughout history, many human inventions have been democratized as technology has advanced, from the wheel to the printing press, to the smartphone. More recently, advances in the areas of computing power, programming capabilities, and data/information availability have resulted in a proliferation in the development and use of mathematical models in...

Uncertainty plays a critical role in AI model risk management since it can affect their performance, reliability, and ability to make accurate predictions. Practitioners involved with these models, depending on their role within organizations, may not have a complete understanding of the concepts behind model uncertainty which in turn can...

Models deploy into more and more areas of business operations in Finance, Healthcare, Retail, and many other industries bringing benefits to these institutions but also exposing them to greater operational, reputational, and regulatory risks. This is especially true in the Financial Services and Insurance industries, where negative model outcomes can...