What are the common types of risks?
An example of an AI chatbot conversation about common risk types in various fields.
What are the common types of risks I should be aware of?
Common types of risks include financial, operational, strategic, compliance, and reputational risks.
Can you explain financial risks in more detail?
Financial risks involve the possibility of losing money on investments or business operations, including market risk and credit risk.
What about operational risks?
Operational risks arise from internal processes, people, and systems, such as fraud, system failures, or human error.
How can I mitigate these risks?
You can mitigate risks by implementing strong internal controls, conducting regular audits, and having a risk management plan.
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