Quarter Finalist
Assessment:
Plot/Idea: Carroll's Risk Intelligence smartly and clearly explains the importance of using new AI technologies to enhance the impact of risk management in the current business world. Carroll covers everything from dealing with supply chain challenges to managing cyberattacks in this incredibly useful guide.
Prose: Carroll's prose is always understandable and precise, despite the technical content of the book. Technical terms are clearly defined, and practical examples of complex concepts always land.
Originality: Risk Management is certainly original in its exceptionally up-to-date analysis of the contemporary business climate. Carroll discusses the impact of COVID on the workforce and the influence of younger employees on shifting attitudes on work, making this text an important current guide. The focus on Bayesian modelling, as opposed to the more commonly used frequentist approach, is also novel.
Character Development/Execution: Carroll surely outlines the book's premise at the beginning and follows through evenly, executing a smooth text. Risk Management also offers impressively executed back matter for curious readers, including summaries and ideas for classes.
Blurb: A unique and adept guide to employing prevailing AI technology to risk management, Carroll's Risk Intelligence is an innovative text that's sure to influence business managers.
Date Submitted: November 18, 2021
"This book stood out to me for three reasons:
a) the overall theme of risk management as a powerful decision making tool, risk management as part of strategy and performance, not just corporate governance and compliance. This is a big step up from what you normally find in risk management books.
b) AI in risk management is much closer than we think and much more pragmatic. The book is full of examples of application of AI in day to day application of risk management and important business decisions. This drives an important message AI is not a long term unachievable target, most organizations are well positioned and in fact have been using aspects of AI in risk management and decision making for ages.
c) The book is very well structured, covering most common risks, practical examples and valuable suggestions.
Highly recommended! For a sneak peak, watch the replay of Gregory’s session at the RAW2021."
"I am super impressed with the topic line up, to the point that I see this book as potentially one of the most inspiring, useful and potentially influential books written on risk management for the last few years.
My general comments on the contents:
- Huge scope that is on the mark with the way Risk Management trends have been progressing:
- Bayesian Game Theory → BGT is an interesting Integrated ‘Combo-Model
- Time Series Forecasting + Trends are moving to ‘signal interpretation’
- Blockchain Trust → This may be a distraction, let’s see
- Knowledge Graphs + KGs seem to be at the cutting edge of causal assessment methods and it’s exciting they feature in this book
- Risk-Based Decision-Making → A popular term invented by people that often struggle doing it … logically that’s where we want to be, theoretically
This is RIGHT ON THE MARK [ impressive that you have captured where Risk Management should be heading ] and Super Interesting without overwhelming the reader with technical gritty."
"I am a big fan of Greg Carroll and find his materials to be thoughtful and in the forefront of risk management. I recommend reading his Mastering 21 Century Enterprise Risk Management- Second Edition before reading Risk Intelligence- How Artificial Intelligence (AI) can Transform Risk Management.
The AI book has a lot of content. The audience is executives. This is not a how to book. Executives need to understand something about the technologies, issues and challenges, At the end of the day, executives need the knowledge to have more confidence to ask the required questions of the CRO and CIO, be able to understand their responses and push back as needed, allocate capital to achieve the benefits of AI based risk management and provide better oversight.
Greg does a very good job in making the case for the limitations of current approaches and the need to move to AI based risk management. He does an effective job in making the technical content understandable to someone who does not have his background. For example, there are some very good analogies such as comparing AI to a car which make difficult concepts easier to understand. Even so AI is still a technical subject.
The book will take some dedication to get the full benefits. When reading this book, it would be beneficial to discuss the concepts and ideas with others who are considering or involved in AI based risk management. There are a number of excellent links to external sources in the book. I recommend the reader take the time to access these links. Greg’s books would be a good addition to any practitioner’s library. I highly recommend this book."
