Close this search box.

Risk Management: The Tip Of The AIceberg

Stu Bailey, Forbes – March 11, 2021

Many of the companies that I work with are large, diversified, non-digital-native enterprises. I call them “SuperPowers,” though I’d welcome a better name. They’re generally Fortune 1000 or even Fortune 100 organizations — a significant percentage of which are in regulated industries like financial services.

Most of these companies were directly impacted by the financial crisis of 2008 and made significant changes to their risk management functions in the wake of the crisis. In many cases, their enterprise compliance and risk management groups — which had always been important but were rarely the center of attention — moved to the core of corporate governance and became directly accountable to the board.

In support of this development, many SuperPowers — financial services companies in particular — centralized and fortified their governance functions and implemented systems and processes that gave them visibility and control for risk management on an enterprise-wide basis. Yet, even those companies that have mature governance practices in place are facing new challenges wrought by the rapid and broad adoption of AI. Further, many of the SuperPowers in less-regulated industries may be especially vulnerable to new risks that stem from wide use of AI technology.

Read the Full Article

You might also enjoy

AI Regulations: What to Know & What to Do Now

Global, federal, and state-level governments are moving quickly to implement AI regulations. While reading this, you may be asking, “If I want to use AI, what do I need to do now to prepare my organization now?”

Get the Latest News in Your Inbox

Further Reading

Introducing Enterprise Safeguards for Generative AI

ModelOp released version 3.2, which includes cutting-edge capabilities to govern and monitor Large Language Models (LLMs) and Generative AI — including internal and third-party models — helping de-risk enterprises while delivering value-generating AI at scale.

Read More