[1][3][4] These include cyber, supply chain, operational, environmental, geopolitical, conduct, fraud, model, and other types of risks.
[3] Moreover, these standards might allow some businesses and individuals to inadequately address risks concerning investors, customers, the environment, public health and safety, and community welfare.
[3] This could enhance the accuracy of estimating expected non-financial risk-related losses and potentially provides an alternative to the operational risk regulatory capital calculations specified in the Basel Accords.
[3] The application of semantic technologies notably improves the capabilities of machine learning (ML) and natural language processing (NLP).
[3] As a result, ontologies, along with ML and NLP technologies, form a set of tools for implementing a risk accounting framework.