earticle

영어

Risk evaluation is a significant aspect of risk management; risk assessment, also known as risk description, determines its perspective and suitability by comparing risk to other hazards. Fuzzy logic is a kind of logic used in professional systems as well as additional Artificial Intelligence (AI) applications in which variables might get varying degrees of reliability or falsity denoted by a series of values among 1 (true) and 0 (false). Market, credit, insurance, and trading risk are all assessed using traditional risk models. On the other hand, fuzzy logic models are based on fuzzy set theory and fuzzy logic and are beneficial for analyzing hazards when there is insufficient knowledge or data. The primary motive of this research work is to analyze and propose a fuzzy logic-based risk assessment model to accurately assess the risks involved in establishing the timeline for a business sector development plan. The proposed model is to enhance classical risk assessment models based on "fuzzy logic" functioning on simple "If-Then" rules. The proposed model's simulation results provide effective results in a better way.