Rogues of Wall Street — How to Manage Risk in the Cognitive Era
Our own Andrew Waxman has written a book! Rogues of Wall Street — How to Manage Risk in the Cognitive Era is about Waxman’s own experience and observations working in the Financial Services industry before and after the financial crisis.
From the Introduction, “Risky Business”
“The Cognitive Era is referenced in the title of this book for two important reasons. First, the field of cognitive psychology pioneered by Daniel Kahneman and Amos Tversky, is in many ways a gift to modern risk managers. By leveraging some of this thinking (we will study some examples in the latter half of the book) risk management errors of the past can be avoided. Second, the era of “cognitive computing”, that has been recently heralded by IBM and other proponents of Artificial Intelligence, presents new opportunities for risk managers.
Partly due to the availability of ever-increasing computing hardware and network power and also due to the availability of new AI (artificial intelligence) technologies, corporations now have cognitive digital platforms at their disposal to improve their ability to manage a wide range of tasks. These platforms encompass machine learning, reasoning, natural language processing, speech and vision, human-computer interaction, dialog and narrative generation, and more — systems that learn at scale, reason with purpose, and interact with humans naturally.We explore some specific applications in the field of surveillance and regulatory management that can support the ability of banks to prevent and mitigate operational risks more effectively in the future. Some of these techniques are already being explored and implemented in the field.”
To read more about risk, the cognitive era, and how to manage it all, buy Rogues of Wall Street — How to Manage Risk in the Cognitive Era on kindle, and hardcover/ ebook today!
