In age of artificial intelligence, traditional rules spur risk decisions

Banks were exploring options to leverage AI-ML technology in credit risks for at least the last five years

Strong governance, regular monitoring and data security continue to be at the core of risk decisioning at Indian banks as the process is now shaped by data, artificial intelligence (AI) and machine learning (ML) for informed decisions, concluded banking veterans in the panel discussion on Risk Modelling & Decisioning. Among experts on the panel were Ravi Duvvuru, Founder and Designated Director of Duvvuru and Reddy LLP; Biswajit Das, Chief Risk Officer of Bandhan Bank; Om Prakash Seth, Chief Information Officer of IDBI Bank; Dilip Kumar Mridha, Chief Risk Officer of UCO Bank; Abdullo Akhadov, Head of Credit Risk Modeling, Machine