The risk management landscape is constantly evolving, and staying ahead of the curve requires access to the latest knowledge and expert advice. Enter RAW – the Risk Academy Wisdom chatbot – a state-of-the-art AI-powered assistant designed to streamline your risk management experience. In this article, we’ll dive deep into the world of RAW, exploring its capabilities and limitations, suggesting questions you can ask, and sharing a story that demonstrates the chatbot’s immense potential.
What is RAW
RAW is an AI-driven chatbot developed by RISK-ACADEMY, a leading provider of risk management education and resources. Trained on an extensive database of RISK-ACADEMY blogs, guides, and Alex Sidorenko’s influential book on risk management, RAW is a comprehensive resource for professionals in the field.
This AI chatbot is designed to answer your risk management questions, offering tailored insights based on RISK-ACADEMY’s wealth of knowledge, often contrary to the common knowledge or popular opinion. Whether you’re a seasoned risk management expert or a newcomer to the industry, RAW is equipped to handle inquiries on a wide range of topics, such as qualitative and quantitative risk assessment methodologies, enterprise risk management frameworks, and the latest risk management trends.
What RAW isn’t
While RAW is a powerful AI chatbot, it is important to recognize its limitations. As a language model, RAW is not a human expert, and its responses are generated based on the information it has been trained on. Consequently, RAW’s knowledge is limited to information published at RISK-ACADEMY blog, and it may not always have answers to all risk management topics. For example nothing on credit risk, not our area of expertise.
Keep in mind, RISK-ACADEMY is a very contrarian resource, so if you ask about heatmaps, the chatbot will tell you they are a waste of time and not an effective risk management technique.
Lastly, chatbots are prone to technology risks, so sometimes, it fails and instead of responding from the RISK-ACADEMY training set, it starts responding from its own generic ChatGPT knowledge base, and, surprise surprise, it is most of the time risk management 1 and hence completely wrong.
Questions to ask RAW
To help you get started with RAW, here are some questions you might consider asking:
- What is the difference between qualitative and quantitative risk assessment?
- How do I develop an effective enterprise risk management framework? (trick question, because you should never develop an enterprise risk management framework and it will never be effective)
- What are the best risk management books?
- How can I integrate risk management into my organization’s strategic planning?
A story about RAW
Meet Jane, a risk management professional responsible for implementing a new risk management strategy in her organization. Overwhelmed with her task and unsure where to begin, Jane discovered RAW and decided to give it a try.
Jane started by asking RAW about the fundamentals of risk management, seeking guidance on how to develop an action plan for integrating risk analysis into decision making. RAW quickly provided her with valuable insights into various approaches and best practices, such as integrating risk management into strategic planning, conducting quantitative risk assessments, and taking active steps to develop risk culture.
Armed with this newfound knowledge, Jane proceeded to ask RAW for advice on selecting appropriate risk management methodologies to support her organization’s decisions.
With RAW’s guidance, Jane successfully changed how important business decisions are taken and saved significant amount of money on insurance , earning her praise from senior management and positioning her organization for long-term success.
RAW, the AI-powered risk management chatbot, is revolutionizing the way professionals access expert advice and insights. While it’s essential to acknowledge its limitations, RAW offers a valuable resource to anyone seeking to enhance their understanding of risk management concepts and stay ahead of the curve in this ever-evolving field. Give RAW a try today, and experience the future of risk management assistance. RAW is accessible on every page of RISK-ACADEMY blog, bottom right of your screen, just click on the logo.