Enhancing Risk Intelligence Strategies with Technology & AI-Driven Tools
Risk intelligence plays a crucial role in ensuring the success and resilience of high-level companies and government agencies. As risks become more complex and interconnected, organizations must leverage technology, including AI-driven tools, to enhance their risk intelligence strategies.
Today, private and public sector organizations use massive amounts of internal and external data to manage risk, a Deloitte Advisory article points out. “However, traditional methods of analysis have become increasingly incapable of handling this data volume,” the article states. “Instead, cognitive capabilities — including data mining, machine learning, and natural language processing — are supplanting traditional analytics and being applied against these massive data sets to help find indicators of known and unknown risks.”
Read on to learn about the importance of technology in risk intelligence and how AI-powered tools can revolutionize how risks are identified, monitored, and mitigated.
Leveraging AI to Better Monitor Key Topics
Effective risk intelligence relies on the ability to monitor relevant topics and detect emerging trends and threats. Traditional methods of topic monitoring can be clunky and time-consuming, often resulting in missed signals or delayed responses. That’s where AI-powered tools come into play.
AI can help you quickly determine and find what themes and keywords you want to track. A tool like Predata’s Topic Builder feature does just that. “Users get suggestions of things related to the subject they want to track,” says Steven Childress, director of product management at Predata. “Then we take that prompt and ask artificial intelligence to learn what it is and figure out different aspects of it.” From there, users get a list of categories to track, along with associated web pages. “This gives customers the keys to the car so they can tailor the use of the platform to their specific needs,” Childress says.
By harnessing the power of AI, topic monitoring is made more intuitive. AI algorithms can analyze vast amounts of data from diverse sources in real time, providing valuable insights and early warnings about potential risks.
AI-powered tools like Predata’s Topic Builder take a big issue, such as “how the U.S. is perceived globally,” and find sub-issues within that theme — for instance, controversies related to the U.S. or the ways the country portrays itself as a good global partner, explains Molly Dwyer, vice president of analysis at Predata. “This means users don’t have to be experts in something they want to monitor,” Dwyer says. “The tool helps them find sub-issues and quickly set up monitoring on the issues that matter.”
AI-Driven Tools for Risk Intelligence
Geopolitical and Risk Analysis
AI-driven tools offer advanced capabilities in geopolitical and risk analysis. These tools can analyze complex data sets, including news articles, social media feeds, and financial indicators to identify geopolitical risks, economic trends, and potential disruptions. By leveraging these tools, risk intelligence professionals can gain a comprehensive understanding of the global landscape and make proactive decisions.
Threat intelligence is another crucial way organizations can protect their assets and infrastructure from cyber threats. AI-driven tools can process huge amounts of data, including network logs, malware samples, and threat feeds to identify potential vulnerabilities and detect anomalous activities. Such tools allow organizations to stay one step ahead of cybercriminals and safeguard their digital assets.
Measuring True Campaign Effectiveness
Traditional campaign evaluation methods often fail to measure risk intelligence campaigns’ true impact and effectiveness. But AI-powered tools have the potential to be far more powerful. For instance, Predata’s Campaigns tool is built with radar charts that enable users to see how audiences have changed their attention over time, Dwyer says. These tools can help organizations quantify the success of their risk intelligence initiatives by analyzing data on relevant metrics.
AI Fraud Detection Tools
Fraud poses a significant risk to organizations, both financially and reputationally. AI and machine learning programs can potentially help with text mining, database searches, social network analysis, and anomaly detection, according to TechTarget. “This could be extended to things such as fraudulent use of cloud services, for example, an Office 365-based phishing attack from a hijacked account.” By implementing these tools, risk intelligence professionals can enhance their fraud detection capabilities and minimize losses.
While secure platforms like Predata are essential in handling confidential information, third-party workflow tools can assist in handling non-sensitive information efficiently. Tools like ChatGPT, Grammarly, and transcription and summarization tools can streamline document creation, proofreading, and outlining large amounts of information. Integrating these tools can save time, enhance productivity, and ensure accuracy in otherwise time-consuming daily tasks.
Considerations & Risks of AI in Risk Intelligence
While AI-driven tools offer immense potential, it’s essential to consider certain risks and challenges when using them in a risk intelligence context.
Privacy and Security Concerns
Risk intelligence often deals with sensitive and confidential data. When selecting the best technology for the job, organizations must ensure that robust privacy and security measures are in place. Tools like Predata offer separation of customer data, ensuring that sensitive information remains secure.
AI integrations with risk intelligence tools can actually mean more privacy for your organization since they provide you with more autonomy. For example, “Predata users can track what they care about and monitor it privately,” Dwyer says. “Our customers are able to maintain a greater degree of privacy through the easier autonomous topic building, with less involvement from Predata customer support.”
Organizations must evaluate the compatibility of any technology with their security and privacy requirements and only use tools that align with industry standards and comply with company rules to avoid potential compliance issues.
Inherent Bias and Errors
AI tools can exhibit biases and errors, especially when trained on subjective or incomplete data. “Machine-learning algorithms identify patterns in data and codify them in predictions, rules, and decisions,” according to EY. “If those patterns reflect some existing bias, the algorithms are likely to amplify that bias and may produce outcomes that reinforce existing patterns of discrimination.” Risk intelligence professionals should be aware of these limitations and rely on human expertise to critically assess and validate the outputs of AI tools.
Monitoring Evolving Policies
As AI becomes more prevalent, policy and regulatory frameworks surrounding its use are rapidly evolving. Some of the key policy issues Congress is addressing include data privacy, algorithmic accountability, and the use of AI in high-risk situations such as nuclear weapons launches. Professionals need to stay informed about these developments and ensure that their tools remain compliant with changing requirements.
Gain Crucial Insights With Predata’s AI-Powered Tools
AI has the power to revolutionize risk intelligence strategies for high-level companies and government agencies. By leveraging AI, risk intelligence professionals can enhance their capabilities and make proactive, informed decisions. Predata is a web-based platform that quantifies shifts in online attention — how audiences research and consume information — to provide a more complete picture of the geopolitical landscape.
Measuring the distribution of human attention tells the real story. Unlike industry-standard tools that monitor online content creators and their engagement on social media, forums, and other news sources, Predata turns anonymized web traffic metadata into quantifiable measures of attention to individual narratives, topics, and themes.
“We quantify ‘the other side of the internet’, and our data goes back historically, allowing users to compare what is normal and isolate what is unusual,” Dwyer explains. With Predata, staying on top of risk has never been easier, providing you with real-time information on what is getting attention from a particular audience and enabling your organization to make timely strategic decisions.