Algorithm Readiness for Future: Insights and Sentiment

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Algorithm Readiness for Future: Insights and Sentiment

Nothing new, but an evolution

Insights into algorithm risk management to support further consideration of important aspects of organisation’s algorithm governance and control framework.

Have you found yourself hearing terms like ‘AI’, ‘machine learning’ and ‘coding’ more often from your colleagues, your consultants and even your relatives? Now more than ever, algorithms are driving decisions and outcomes in everyday life and business, sometimes in an unseen and unchecked way.

The risk of algorithmic failure amplifies as technology evolves and accelerates. Financial Services in particular has algorithms in many parts of business, including automated trading, consumer credit scoring by loan and credit providers, robo-advice and robot-managed funds for portfolio allocation. While these use cases are certainly exciting, there is also a growing need for an understanding of the risk and assurance over algorithm controls to ensure issues do not arise.

To help we have created an insights pack for you that highlights the risk and controls considerations for the algorithms being used in your organisation. A good way to understand if your organisation is prepared to manage the risks inherent in its use of algorithms is to reflect on those key questions about your algorithm risk management framework.

Download our Report to understand some of the key risks involving the use of algorithms for our clients across the financial services industry.

Some of the topics include:

  • Algorithm definition
  • Algorithm utilisation
  • The regulatory environment
  • Algorithm risk management framework

If you would like to learn more about the risks of algorithms throughout your organisation, and how we can help you mitigate them, here (hyperlink to website) or please get in touch. We look forward to hearing from you soon.

Algorithm Insights 2021

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