Questions
Common questions.
What is Model Risk Management?
Model risk management is the discipline of identifying, measuring, and mitigating the risks that arise from using quantitative models, including AI models, for business decisions.
How does Model Risk Management work?
It is well-established in financial services and expanding to AI agent governance.
Which terms are related to Model Risk Management?
Closely related concepts include Foundation Model, MiFID II (AI Agents), Model Factsheet, NIST AI Risk Management Framework (AI RMF). Each is defined in the Prefactor glossary.
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