Artificial intelligence (AI) is transforming the way organizations operate, but it also presents unique risks that need to be carefully managed. Risk managers play a crucial role in ensuring that these risks are identified and addressed in a thoughtful and proactive manner.
Elisabeth Case, a global product manager based in Chicago, emphasizes the importance of aligning everyone on the use and deployment of AI tools. She suggests that involving risk managers in discussions related to AI can help ensure that potential exposures are identified and addressed by individuals within specific disciplines who may not have a broad view of the potential risks associated with the technology.
Proactivity is key when it comes to managing AI-related risks, according to Jaymin Kim, a senior vice president in Toronto. He suggests that managers responsible for AI must take a risk management perspective to understand and transfer residual risks associated with the technology. Organizations need to have adequate oversight in place, ensuring that privacy controls and security measures are updated regularly to prevent misuse of AI by employees.
Bob Wice, head of underwriting management in West Hartford, emphasizes the need for organizations to manage risks associated with AI usage. Privacy and security controls must be put in place to prevent misuse of generative AI tools in the workplace. John Farley, a managing director in New York, highlights the importance of incorporating AI into cyber incident response plans to address potential deepfake incidents and mitigate damages effectively. Overall, involving risk managers in discussions and planning related to AI is critical for organizations to navigate the potential risks and implications of this technology effectively.
In conclusion, risk managers play an essential role in identifying and addressing AI-related risks. Proactivity is key when it comes to managing these risks, as managers responsible for AI must take a risk management perspective to understand and transfer residual risks associated with the technology. Organizations need adequate oversight in place, ensuring that privacy controls and security measures are updated regularly to prevent misuse of AI by employees.
Furthermore, incorporating AI into cyber incident response plans can help address potential deepfake incidents and mitigate damages effectively. By aligning everyone on the use and deployment of AI tools and involving risk managers in discussions related to this technology, organizations can navigate potential risks more effectively while leveraging its benefits for growth and innovation.