Is Artificial Intelligence the Future of Risk Management in Information Technology?

Key Takeaways

  • Artificial Intelligence can revolutionize Risk Management in IT sector, with AiVidens leading the front.
  • AiVidens, a Belgian startup, is introducing predictive risk management to optimize cash collection processes and reduce bad debts.
  • The company’s PRIM solution is founded on unique algorithms powered by AI which foresee customer payment capacities and behaviour.

In the rapidly changing IT sector, risk management is an area that needs constant evolution and innovation. Traditional methods of assessing risks, especially in terms of customer payment delays and defaults, are being challenged by new technologies. One such startup making waves in this area is AiVidens, based out of Brussels. It is tapping into the power of Artificial Intelligence to revolutionize risk management in the IT industry.

Started by Edouard Beauvois and Nicolas Mertens, AiVidens is a promising new player in the AI, IT, and risk management fields. The company’s intuitive solution, Predictive Risk Management (PRIM), streamlines cash management and collection processes. It uses company data to predict customer payment behaviour and risk levels, optimizing collection strategies, and minimizing bad debt scenarios.

What sets AiVidens apart from other startups in the same domain are the specific algorithms they have developed. The AI-powered algorithms interpret a vast number of signals to forecast a customer’s trustworthiness in terms of payment. This means that cash collection processes can start earlier and the risk of non-recovery of money is substantially lowered. By projecting today’s debt portfolio into the future and applying a risk model, the software suggests the next best actions to take for efficient cash collection.

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Another unique aspect of their business is the ability to segment portfolios based on specific types of risks. For instance, if a payer’s behaviour changes, the system alerts the company, thereby minimizing potential loss. It also enables firms to compare payers’ behaviours within their company or specific industry, providing valuable analysis and insights.

As AI continues to permeate various sectors, its application in risk management signifies an upward trend. Through this technological advancement, predictive models like APRIM are streamlining processes, reducing costs, and minimizing risks. The future for AiVidens looks optimistic as they continue to hone their software, contributing to smarter workflows and safer financial practices in the IT sector.

With AI set to dominate the world of IT Risk Management, companies like AiVidens are steadily paving the way for a safer and risk-free financial landscape. For more information on AiVidens and to keep up with their updates, check out their website and follow them on LinkedIn.

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