Risk Management and AI


While some organizations are adapting existing risk management capabilities (such as data governance, privacy, cybersecurity, ethics, and trust and safety), others are attempting to build new AI-specific capabilities.

Cold Chain Technologies CEO Ranjeet Banerjee observes, “I do not think there is a good understanding today of AI-related risks in most organizations.” 

MIT professor Sanjay Sarma offers a similar observation: The “massive range of risks seems to be leading to analysis paralysis [such that] companies have not successfully captured the risk landscape.” 

Beyond the wide range of known risks, [Linda] Leopold notes that “new risks keep emerging as technology and its areas of application evolve.” 

[Riyanka Roy] Choudhury adds, “A significant obstacle lies in comprehending and quantifying the potential risks associated with AI, particularly within smaller organizations.” 

As a result, Yan Chow, global health care lead at Automation Anywhere, says that “it may take AI to understand its own risks.”

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