Artificial intelligence (AI) is rapidly changing the landscape of organizations worldwide. Risk managers play a vital role in ensuring that organizations are equipped to navigate the potential risks and implications of this technology. Experts agree that involving risk managers in discussions about AI is crucial to ensure a broad view of potential exposures that individuals within specific disciplines may not see.
Elisabeth Case, a global product manager based in Chicago, emphasizes the importance of aligning everyone on the use and deployment of AI tools in a thoughtful manner. Proactivity is key when it comes to identifying and addressing AI-related risks, says Jaymin Kim, a senior vice president in Toronto. 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 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 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.