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- Risk Manager + AI: Fortress Bags $919M AI Deal, Microsoft's AI Retreat Amid Economic Squeeze, Is AI too Complex for Risk Management?
Risk Manager + AI: Fortress Bags $919M AI Deal, Microsoft's AI Retreat Amid Economic Squeeze, Is AI too Complex for Risk Management?
From improving coverage to enhancing operational efficiency, AI is reshaping the way risk is managed from the enterprise to SMB. We are here to explore the latest trends and insights in risk management and AI, without wasting your time. What you need to know today, nothing more. Find more on our site.
Fortress Bags $919M AI Deal
Microsoft's AI Retreat Amid Economic Squeeze
Pipe Dives Into Spend Management With Glean.ai Buy
AI Gets Smart on Banking Risks
Is AI too Complex for Risk Management?
Fortress Bags $919M AI Deal
Fortress is making waves with a massive $919 million contract to boost AI-driven security for the federal government’s supply chains. The deal aims to enhance third-party risk management, ensuring national security until 2035. This move highlights the growing reliance on AI to safeguard critical infrastructure.
By the Numbers:
- $919 million awarded to Fortress.
- Contract extends through 2035.
- Focus on federal supply chain security.
Why It Matters: Securing federal supply chains is crucial for national security, and this contract underscores the importance of AI in modern risk management.
What's Next: Fortress will begin implementing AI solutions across various federal agencies. The rollout is expected to start this year, with full operational capability aimed for 2026. Read More
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Microsoft's AI Retreat Amid Economic Squeeze
Microsoft is scaling back its AI ambitions. The move comes as tech giants face mounting challenges, from economic pressures to evolving regulations. Microsoft CFO Amy Hood confirmed the pullback, citing increased tariffs and market volatility.
- 15% drop in AI project investments at Microsoft
- 10% increase in hardware costs due to tariffs.
- $20 billion spent annually on AI R&D.
Why It Matters: As a leader in AI innovation, Microsoft's shift could influence the broader industry and how companies approach AI investments.
What's Next: Microsoft plans to reassess its AI strategies and focus on sustainable growth. The company is expected to release a detailed report outlining its new AI roadmap in the coming months. Read More
Pipe Dives Into Spend Management With Glean.ai Buy
Pipe is making moves to enhance spend management for small businesses by acquiring Glean.ai. They're betting big on AI-powered spend management to reshape how businesses handle payments. This move hints at a broader trend where AI could transform industries not traditionally seen as tech-forward. Pipe aims to streamline processes by shifting away from paper-based payments and outdated systems, enhancing their offering in the fintech space.
By the Numbers:
- $1 billion: The estimated market size for AI-driven spend management by 2025.
- 15%: Projected annual growth rate of AI in fintech over the next five years.
- 30+: Number of industries predicted to adopt AI-powered payment solutions by 2030.
Why It Matters: AI has the potential to revolutionize traditional sectors by offering smarter, more efficient solutions.
What's Next: Pipe's acquisition is just the beginning. Expect other companies to follow suit and ramp up their AI investments. Read More
AI Gets Smart on Banking Risks
The banking sector is gearing up for a tech revolution and AI is front and center, promising to transform risk management with automation and sharper decision-making. Banks are set to embrace 16 new tech trends, each reshaping how they operate and engage with customers.
By the Numbers:
- 75% of banks are expected to integrate AI-driven decision-making by the end of 2025.
- 60% aim to automate risk management processes.
- 40% of financial institutions are focusing on enhancing customer experience with tech innovations.
Why It Matters: These trends are not just about keeping up with technology—they're about redefining the banking industry for a future that's more secure, efficient, and customer-focused.
What's Next: Banks will need to invest in training and infrastructure to support these new initiatives. Expect a surge in AI-driven banking services as institutions race to stay ahead of the curve. Read More
Is AI too Complex for Risk Management?
AI's reputation for complexity could be its own worst enemy. New developments in AI risk management are grappling with this perception problem. In the media, AI models are often portrayed as inscrutable, which complicates efforts to manage and regulate them.
By the Numbers:
- 75% of executives say AI risk is a top concern.
- Only 30% feel confident in their company's AI governance.
- 60% of the public sees AI as too complex to understand.
Why It Matters: Without clear frameworks, AI's potential benefits may be outweighed by risks.
What's Next: Efforts are underway to demystify AI and make its risk management more accessible. Expect more collaboration between tech companies and regulators to develop transparent guidelines.