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Cost Estimating NewsBrief: July 24, 2026
Evolving model risk management in the age of AI
(McKinsey & Company) Over the past 15 years, banks have built robust model risk management (MRM) capabilities in three waves. First, they focused on regulatory and prudential models. Second, they expanded their activities to broader model governance, encompassing managerial models embedded in core banking processes. Finally, they embraced a new wave shaped by machine learning and large language models (LLMs), which enabled a shift toward AI, generative AI, and agentic AI use cases, including solutions that extend beyond traditional model definitions. Read More
Federal Programs: Assessing and Improving Effectiveness
(U.S. Government Accountability Office) GAO’s work regularly finds that federal programs are unable to assess their performance to determine if they are solving the problem they were created to fix. By defining goals and collecting and using relevant data, agencies could make informed decisions to improve their programs’ results. Each year, the federal government spends trillions of dollars on programs that Americans depend on, such as health care, public safety, and disaster support. Our recent reports have found that many federal programs do not have clearly defined goals to identify what they seek to achieve or relevant data to assess progress. Without this information, Congress and agency leaders cannot determine if federal programs funded by taxpayer dollars are delivering intended results and supporting the American people. Read More
Naval Postgraduate School launches AI supercomputer in first for military
(NextGov/FCW) The Naval Postgraduate School announced Wednesday it has deployed the Nvidia DGX GB300 AI supercomputer to expand its computational capabilities and help students learn how to use AI for weather modeling, oceanic and operations research, cybersecurity, resilience planning and response planning. “By supporting the Naval Postgraduate School and placing one of the world’s most advanced AI supercomputers in the hands of the men and women who defend our nation, we are empowering them to train on it, build with it, and lead America’s fighting force with the decisive advantages our Sailors, Marines and Joint Force deserve,” said Nvidia president and CEO Jensen Huang in a press release. Read More
Space Force doesn’t know how many personnel it needs, watchdog finds
(Federal News Network) As Space Force leaders argue that doubling the size of the newest branch of the military is a “national security necessity,” roughly 25% of the jobs within the service were unfilled in fiscal 2025, and the service lacks guidance for determining how many people it actually needs to accomplish its missions. The Government Accountability Office found that the Space Force had filled only 13,509 of the approximately 18,000 positions it identified as necessary to carry out its missions in fiscal 2025, leaving nearly one-quarter of required positions unfilled. Read More
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