Risk based approaches to artificial intelligence

Neil Currie

As next generation technologies continue to proliferate, one thing is increasingly clear: companies should adopt progressive governance and ethical standards. By doing so, these companies will help to cultivate consumers trust - thereby unlocking the ability to harness the full potential of these innovations, to fuel future growth.

This paper will consider a number of assertions, covering:

  1. Associated governance isn’t keeping up with heavy investment in AI.
  2. 'The black box effect’ makes it harder for companies to inform customers and employees how/where and why their data is being used.
  3. Opportunities brought about by AI and machine learning are masking the importance of how companies use/hold their customers’ data.
  4. Risk-based approaches should be a part of assessing whether and AI or machine learning model should be in place for making decisions or determining controls.
  5. Companies should have a risk-based framework in place to assess its own initiatives rather than relying on government regulation to define standards.
Risk based approaches to Artificial Intelligence