To realize the benefits of AI, you must manage risks well. We recognize that the value of AI is a function of risk and returns, and selection of a suitable Risk Framework is one of the hallmarks of AI adoption success story. A well-thought through framework is a blend of leading industry best practices in risk management couple with risk dimensions related to human-machine interactions. Through robust AI governance and multi-stakeholder feedback these risks are identified, categorized, and impact clearly understood.
Ultimately, the value of AI depends on a clear, common understanding of its scope, nature, context, and purpose, as well as a quality data management strategy for training, testing, validation, and pipeline
Our assistance is not only limited to identifying a holistic risk framework to enable bese practices in risk management processes. We apply risk management from the perspective of defining value mapping between,
– humans and machines
– code of ethics
– code of data ethics and data risk policies
– privacy implications and policies
– controls and safeguards for trust and reliance. Investing in these AI enablers and controls are intended to assure long-term reliability, equity and sustainability of AI goals and upcoming regulatory compliance.