Utilising ChatGPT To Evaluate Operational Risk Knowledge

Summary

In this video, Manos Kulal, co-founder and chief risk officer at RIS Spotlight, demonstrates how to use Chat GPT to evaluate operational risk knowledge. He showcases creating multiple-choice questions for different levels of expertise, from basic to advanced, to assess personal or team knowledge and during hiring processes. Kulal recommends using the paid version of Chat GPT for better question quality and suggests that this tool can also be used to build a library of test questions for e-learning courses. The video concludes with an invitation to explore generative AI's role in enhancing risk management productivity and quality.

Takeaways

• 😀 The video presents how to use Chat GPT for evaluating operational risk knowledge, which is beneficial for newcomers and during hiring processes.
• 📝 Manos Kulal, co-founder and chief risk officer at RIS Spotlight, introduces the use of generative AI technologies in risk management activities.
• 🤖 Chat GPT is requested to create multiple-choice questions to assess basic operational risk management knowledge without initially displaying the answers.
• 📑 The script demonstrates a process where individuals can answer questions first and then compare their responses with Chat GPT's provided answers.
• 💡 It's suggested to use the paid version of Chat GPT (Chat GPT Plus) for better quality questions, as the free version's responses are reportedly poor for operational risk management.
• 👥 The video suggests using the question-generating functionality for personal knowledge assessment, team learning, and evaluating interviewees or external consultants.
• 📚 The script mentions the creation of a library of test questions for e-learning courses on operational risk or compliance within an organization.
• 🔄 The process of generating questions can be repeated to create a large number of questions for different contexts, including advanced knowledge assessment.
• 📈 The video provides examples of prompts for generating questions at different knowledge levels, from basic to advanced, tailored to experience levels in operational risk management.
• 📧 The speaker invites viewers to reach out via email for further exploration of how generative AI can enhance risk management productivity and quality in their organizations.
• 🔍 RIS Spotlight has conducted an in-depth analysis of over 100 use cases for utilizing generative AI in operational risk management over the past nine months.

Q & A

What is the main purpose of the video presented by Manos Kusal?

The video aims to demonstrate how to utilize Chat GPT to evaluate operational risk knowledge, which is useful for individuals new to operational risk or for assessing knowledge of potential hires for operational risk roles.

Who is Manos Kusal and what is his role at RIS Spotlight?

Manos Kusal is the co-founder and chief risk officer at RIS Spotlight, where their AI practice specializes in generative AI technologies to enhance productivity and quality of risk management activities in the financial services industry.

What is the first example presented in the video regarding the use of Chat GPT?

The first example is requesting Chat GPT to create five multiple-choice questions to evaluate someone's basic knowledge on operational risk management without displaying the answers initially.

Why is it suggested to use the paid version of Chat GPT over the free version for operational risk management?

The paid version, Chat GPT Plus, is recommended because it has been found to provide higher quality responses for operational risk management use cases compared to the free version.

How can the functionality of generating questions be utilized by a single individual?

An individual can use this functionality to evaluate their personal knowledge on operational risk management, possibly by writing down their answers and later comparing them with the correct answers provided by Chat GPT.

What is one way to use the question-generating functionality during a team meeting?

The functionality can be used to run an operational risk quiz competition, which can be both fun and facilitate joint learning within the team.

How can the generated questions be used during an interview process?

The questions can be utilized to evaluate the knowledge of individuals being interviewed for operational risk roles.

What is the potential use of the generated questions for e-learning courses?

The questions can be used to create a library of test questions for operational risk or compliance-related e-learning courses developed within an organization.

What is the process if one needs more than five questions for evaluation?

If more questions are needed, the user can simply ask for five more questions, and Chat GPT will generate additional questions based on the context provided earlier.

How can the video script help in evaluating the knowledge of someone with a few years of experience in operational risk management?

By changing the prompt to generate advanced questions targeted towards someone with 3 to 5 years of experience, the script can help evaluate whether the individual has the desired operational risk expertise.

What is the final example covered in the video regarding the use of Chat GPT for evaluating knowledge?

The final example is generating questions for evaluating knowledge of operational risk experts, targeted towards individuals with 10 or more years of experience in operational risk roles.

How can generative AI enhance risk management productivity and quality in an organization?

Generative AI can enhance productivity and quality by automating the generation of evaluation questions, facilitating knowledge assessment, and providing insights through advanced analysis of use cases.

What should one do if they are interested in learning more about how generative AI can benefit their organization's risk management?

Interested parties should send an email to [email protected] for more information on how generative AI can be utilized for operational risk management.