The term Risk Intelligence initially referred to the act of gathering intelligence on counterparts, for example when providing a loan, in order to enable better decision making. Over time, the term has evolved to encompass broader concepts related to understanding and managing risk, and its modern business usage has evolved as a term that indicates a pursuit for better risk management through the use of software, data and human analysis.
Further reading
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Risk Intelligence: Learning to Manage What We Don’t Know, by David Apgar (2006). This book explores how organisations can develop risk intelligence by improving their ability to assess and learn from uncertainty, introducing the idea of enhancing your risk IQ.
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Surviving and Thriving in Uncertainty: Creating The Risk Intelligent Enterprise, by Frederick Funston, Stephen Wagner (2010). This book provides a structured approach to embedding risk awareness into business strategy and operations. Risk professionals will find its practical guidance on resilience, governance, and leadership valuable when looking to embed a culture of risk management - and risk taking - within an organisation.
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Risk Intelligence: How to Live with Uncertainty, by Dylan Evans. This 2012 book introduces the concept of “risk intelligence” as an individual’s ability to assess probabilities accurately in uncertain situations. Risk specialists can benefit from its insights into cognitive biases and decision-making under uncertainty, helping them enhance both personal and organisational risk assessment skills.