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« Company Overview
9,376
2024-10-01 to 2025-03-31
Collaborative R&D
**Executive Summary:** The project goal is to build an AI proof-of-concept designed to streamline risk management processes when large fashion organisations are undertaking rapid business process change, for instance, attempting to react to market or legislative changes. The Ukraine war, for example, proved incredibly challenging for high-end fashion businesses in the UK, where large operational changes were needed to remove processes and departments from the fashion supply chain to be moved to other parts of the business in mainland Europe or the UK. By utilising generative AI techniques and consuming vast amounts of specific organisational data, we plan to identify potential operational change risks and propose real-time mitigation strategies. **Benefits:** **Faster Decision-Making:** It enables businesses to make informed decisions about organisational streamlining or process change by automating the risk assessment process and providing timely insights into potential threats and opportunities. **Improved Risk Management:** The tool enhances risk management accuracy and effectiveness by suggesting controls to mitigate risk and building reports/system controls without ever needing to write a line of code or engage costly consultants. **Cost Savings:** By proactively identifying and mitigating risks, the tool helps organisations avoid unnecessary losses, regulatory fines, or reputational damage, resulting in cost savings and improved financial performance. **Enhanced Strategic Planning:** Helps organisations develop more robust strategic plans by incorporating risk considerations into decision-making processes and identifying potential blind spots or vulnerabilities. **Key Features:** **Data Integration:** The tool integrates with various data sources within the organisation, including financial records, operational data, market trends, and historical performance metrics. It can also incorporate external data sources such as industry reports, regulatory updates, and news feeds to provide a comprehensive risk analysis. **Generative AI Modelling:** The tool employs advanced generative AI models. These models can identify patterns, correlations, and outliers that human analysts may overlook, enabling more accurate risk assessments. **Scenario Simulation:** The tool can simulate various risk scenarios based on input parameters and assumptions. Helping decision-makers understand the range of possible outcomes and develop robust contingency plans. **Mitigation Strategies:** Based on the risk analysis results, the tool suggests proactive mitigation strategies to minimise potential losses. These strategies will include implementing control measures or new reports.