Artificial Intelligence, T-Shaped Teams, and Risk Management Post COVID-19 and Beyond

Linh Tu Ho and Christopher Gan

Chapter 6 in Corporate Risk Management after the COVID-19 Crisis, 2023, pp 153-194 from World Scientific Publishing Co. Pte. Ltd.

Abstract: We explore the opportunity to apply Artificial Intelligence (AI) and T-Shaped Teams in risk management post the COVID-19 crisis and beyond. First, the study describes the three stages of AI adoption and the interest in AI before and during the COVID-19 pandemic. Second, the importance of AI in risk management is assessed based on the analysis of the performance of AI-implemented firms. Third, the roles of workforce, especially T-Shaped teams, in adopting AI at the firm level are highlighted. The new Technology, Innovation, and In-practice functions of the T-shaped teams are discussed along with the opportunities and challenges when building a T-shaped team and adopting AI in enterprises. Next, a guide for building T-Shaped Teams for risk management using AI is developed with the flexibility to implement in a wide range of corporates. The study concludes with future direction on risk management strategies to respond to new risks and make better business decisions to address shocks in the economy.

Keywords: COVID-19; Pandemic; Coronavirus; Small and Medium sized Business; SME; Risk Management; Keynesian Theory of Business Cycle; Social-Ecological Theory; Social Cognitive Theory; Nigeria; EU Artificial Intelligence Act; European Union; Artificial Intelligence; Labour relation; Fintech; Business Model; Economic Growth; Regulators; Policy Makers; Business; Corporate; Finance; AI; T-Shaped Teams; Al Janabi Model; Algorithms; Commodity; Crisis; Liquidity Risk; Internet of Things (IoT); Liquidity-Adjusted Value-at-Risk; Reinforcement Machine Learning; Optimization; Portfolio Management (search for similar items in EconPapers)
JEL-codes: G3 G32 (search for similar items in EconPapers)
Date: 2023
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.worldscientific.com/doi/pdf/10.1142/9781800614239_0006 (application/pdf)
https://www.worldscientific.com/doi/abs/10.1142/9781800614239_0006 (text/html)
Ebook Access is available upon purchase.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:wsi:wschap:9781800614239_0006

Ordering information: This item can be ordered from

Access Statistics for this chapter

More chapters in World Scientific Book Chapters from World Scientific Publishing Co. Pte. Ltd.
Bibliographic data for series maintained by Tai Tone Lim ().