The IBM blog on AI risk management discusses how organizations can identify, mitigate, and address potential risks associated with AI technologies. AI risk management is a subset of AI governance, focusing specifically on preventing and addressing threats to AI systems. The blog outlines various types of risks—such as data, model, operational, and ethical/legal risks—and emphasizes the importance of frameworks like the NIST AI Risk Management Framework to ensure ethical, secure, and reliable AI deployment. Effective AI risk management enhances security, decision-making, regulatory compliance, and trust in AI systems.
AI risk management can help close this gap and empower organizations to harness AI systems’ full potential without compromising AI ethics or security.
Understanding the risks associated with AI systems
Like other types of security risk, AI risk can be understood as a measure of how likely a potential AI-related threat is to affect an organization and how much damage that threat would do.
While each AI model and use case is different, the risks of AI generally fall into four buckets:
- Data risks
- Model risks
- Operational risks
- Ethical and legal risks
The NIST AI Risk Management Framework (AI RMF)
In January 2023, the National Institute of Standards and Technology (NIST) published the AI Risk Management Framework (AI RMF) to provide a structured approach to managing AI risks. The NIST AI RMF has since become a benchmark for AI risk management.
The AI RMF’s primary goal is to help organizations design, develop, deploy and use AI systems in a way that effectively manages risks and promotes trustworthy, responsible AI practices.
Developed in collaboration with the public and private sectors, the AI RMF is entirely voluntary and applicable across any company, industry or geography.
The framework is divided into two parts. Part 1 offers an overview of the risks and characteristics of trustworthy AI systems. Part 2, the AI RMF Core, outlines four functions to help organizations address AI system risks:
- Govern: Creating an organizational culture of AI risk management
- Map: Framing AI risks in specific business contexts
- Measure: Analyzing and assessing AI risks
- Manage: Addressing mapped and measured risks
For more details, visit the full article here.
Predictive analytics for cyber risks
Predictive analytics offers significant benefits in cybersecurity by allowing organizations to foresee and mitigate potential threats before they occur. Using methods such as statistical analysis, machine learning, and behavioral analysis, predictive analytics can identify future risks and vulnerabilities. While challenges like data quality, model complexity, and evolving threats exist, employing best practices and suitable tools can improve its effectiveness in detecting cyber threats and managing risks. As cyber threats evolve, predictive analytics will be vital in proactively managing risks and protecting organizational information assets.
Trust Me: ISO 42001 AI Management System is the first book about the most important global AI management system standard: ISO 42001. The ISO 42001 standard is groundbreaking. It will have more impact than ISO 9001 as autonomous AI decision making becomes more prevalent.
Why Is AI Important?
AI autonomous decision making is all around us. It is in places we take for granted such as Siri or Alexa. AI is transforming how we live and work. It becomes critical we understand and trust this prevalent technology:
“Artificial intelligence systems have become increasingly prevalent in everyday life and enterprise settings, and they’re now often being used to support human decision making. These systems have grown increasingly complex and efficient, and AI holds the promise of uncovering valuable insights across a wide range of applications. But broad adoption of AI systems will require humans to trust their output.” (Trustworthy AI, IBM website, 2024)
Trust Me – ISO 42001 AI Management System
Enhance your AI (artificial intelligence) initiatives with ISO 42001 and empower your organization to innovate while upholding governance standards.
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