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Please use this identifier to cite or link to this item: http://hdl.handle.net/2451/14347

Authors: Bansal, Arun
Kauffman, Robert
Mark, Robert M.
Peters, Edward
Keywords: Risk management
Neural nets
Artificial intelligence
Business value
Distributed database
Parallel processing
Pattern recognition
Data quality
Issue Date: Aug-1992
Publisher: Stern School of Business, New York University
Series/Report no.: IS-92-31
Abstract: Methods for sound risk management are of increasing interest among Wall Street investment banking and brokerage firms in the aftermath of the October 1987 crash of the stock market. As the knowledge of advanced technology applications in risk management increases, financial firms are finding innovative ways to use them practically, in order to insulate themselves. The recent development in models, the software and hardware, and the market data to track risk are all considered advances in Risk Management Technology (RMT). These advances have affected all three stages of risk management: the identification, the measurement, and the formulation of strategies to control financial risk. This article discusses the advances made in five areas of RMT: communication software, object-oriented programming, parallel processing, neural nets and artificial intelligence. Systems based on any of these areas may be used to add value to the business of a firm. A business value linkage analysis shows how the utility of advanced systems can be measured to justify their costs.
URI: http://hdl.handle.net/2451/14347
Appears in Collections:IOMS: Information Systems Working Papers

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