Lloyds recently announced that they’re cutting a large number of risk managers because the group was hindering “intelligent risk-taking” (Bloomberg). This will pan out in a couple of years either in the bank’s earnings results or fines from the regulators but, whatever the outcome, this is a good example of the risk manager’s dilemma: how to balance: The law and regulatory requirements The business’s objectives and culture The individual’s sense of what’s right The dilemma is that these three won’t always be in alignment. And often, they shouldn’t be: a risk management system works best when ..read more

Before we jump in, don’t be put off by the technical aspects of this: the overall concept is pretty straightforward and something you can put into practice yourself (I explain how to at the end). Using the Right Tool for the Job Despite their incredible capabilities, even the best LLM*-based AI suffers from a tendency to exaggerate or make up facts – AKA hallucinate. That’s not such an issue when you’re asking it to help tweak some text or brainstorm ideas, but it’s a big problem when you’re trying to use AI for analysis. (*Large language model.) On the other hand, simply dumping a mountain o ..read more

We are moving too slowly The existential threat that businesses and many countries are facing currently is not from artificial intelligence, climate change, the danger of another financial meltdown or a conflict. The threat they need to address most urgently is an inability to move quickly and the events that we are facing far outpace our ability to understand, orientate, make decisions, and act. (Spoiler: it’s impossible to plan your way out of a problem. At some point, we have to take action.) Unfortunately, instead of a bias to action, we dismantle every option to the atomic level via th ..read more

When it comes to speed vs accuracy, I tend towards speed - there's usually so much uncertainty that accuracy is an illusive concept. But how can you generate speed without sacrificing the quality of your decisions? Here are 5 simple techniques. The post Speed vs Accuracy. Speed (Obviously) But How? appeared first on andrew sheves ..read more

AI-powered custom knowledge agents or chatbots are going to be a real game changer. Learn what they are and how to build them here. The post Why, and How, To Build Custom Chatbots ? appeared first on andrew sheves ..read more

Risk and crisis consulting is on the brink of its 'Kodak moment'. As AI streamlines tasks by over 90%, firms face a dilemma: adopt AI and disrupt the business model or resist and risk obsolescence. Small teams have the edge, but all must adapt. Dive in to discover the industry's future. The post Risk and Crisis Consulting is Facing its Kodak Moment appeared first on andrew sheves ..read more

Lots of businesses are wondering what AI means for them, and it's essential that companies have an AI strategy, even if that strategy is to do nothing. But even if the answer is 'do nothing,' you can only get there by asking the right questions first. Here are those questions. The post How Businesses Can Plan for AI appeared first on andrew sheves ..read more

Risk and Security Managers Positive on AI Last week, I had a great session with ASIS at the AI for Risk and Security Managers webinar. As part of the session, I outlined the three questions organizations should ask themselves concerning AI and how it affects their business. * How could AI give us an advantage? … The post Risk and Security Managers are Positive about AI appeared first on andrew sheves ..read more

AI is already enhancing how some people work but it's threatening other jobs and some people just aren't sure what to make of it. Here are the questions you should be asking to work out what AI means for your job and how to take advantage of it. The post How AI will Affect Your Job appeared first on andrew sheves ..read more

I wrote this on a beautiful sunny morning last week, sitting on the Isle of Skye, enjoying the sun washing over the mountains with a fresh coffee and a copy of business continuity principles. Different day, different highland view, but you get the idea OK, so I enjoyed the sunrise, mountains, and coffee a little more than the business continuity guide, but it was nice to refamiliarize myself with business continuity management (BCM) again. Unfortunately, just like all standards, the language and concepts are sometimes a bit twisted and hard to digest: the last thing an already busy team n ..read more