Risk management for AI systems

AI Systems are rapidly emerging in a broad range of industries and applications. Businesses find themselves compelled to accelerate and deploy these systems at “warp speed,” far more rapidly than previous new or emerging technologies. But AI introduces many new risks. In the rush to deploy and monetize AI, there has been little time to understand these risks, nor how to manage and mitigate them. Reports of failures, financial loss, litigation, and reputational damage appear in the news regularly. Even the most experienced and sophisticated AI players have been exposed to these risks. This session will review the key risks of AI systems and their impacts. Many of these are new and unique. Additionally, unlike conventional systems, these associated risks extend into operational deployment and ongoing production use of AI systems. Industry thought leader Allan Cytryn will present examples and consequences along with insights and guidance on measuring, managing, and mitigating them. Attendees will develop a meaningful understanding of what AI is and isn’t, its risks, and how to effectively lead risk management efforts in their organizations. This session is foundational, and hence will also provide attendees a basis for further exploration of AI risks and risk management on their own.