Model Behavior: The Keys to Leveraging AI and ML in Banking

Is data, as it has been called, really “the new oil”? As mathematician and financial industry veteran Kevin Oden noted at the recent RMA Model Risk Management Summit, “having data, and being able to manage and refine it, is just as important as it was to refine oil—and maybe even more valuable.” Or is data more akin to what Agus Sudjianto, Head of Corporate Model Risk at Wells Fargo, calls it? That would be “the new uranium.” “It’s radioactive,” Sudjianto explained. “It…