AI Risk Management: Identifying and Preventing Issues [Video]

As technology continues to permeate every facet of business operations, understanding and managing the risks associated with AI adoption has become paramount. AI systems can optimise processes, enhance decision-making and unlock new opportunities, but they come with inherent risks. These risks range from ethical implications and compliance issues to technical vulnerabilities like security breaches and data integrity concerns. It is vital for businesses, especially SMEs, to grasp these potential issues to maintain trust, competitiveness, and regulatory compliance.

Our approach to risk management in AI goes beyond basic compliance; it encompasses a holistic view of AI integration within an organisation’s fabric. We believe that an effective AI risk management strategy involves evaluating performance and safety, implementing robust data governance, and considering stakeholder and social responsibilities. Proactively defining and managing these risks will not only safeguard against potential pitfalls but also ensure the sustainable and responsible deployment of AI technologies.

In the realm of artificial intelligence, the efficiency …