Manage risks to ensure success with new tech implementation.

May 10, 2024
1 min read


TLDR:

Key points:

  • Risk managers should be involved in discussions about AI implementation.
  • Proactive identification of AI exposures is crucial.

In the article “Risk management key in overseeing implementation of innovative technology,” experts emphasize the importance of involving risk managers in discussions and activities related to artificial intelligence (AI) in organizations. Elisabeth Case from Liberty Mutual Insurance Co. highlights the value of risk managers’ broad exposures and alignment in the use and deployment of AI tools. Jaymin Kim of Marsh LLC emphasizes the need to proactively identify and address potential AI exposures and transfer residual risks, while Bob Wice of Beazley PLC underscores the importance of adequate oversight, privacy controls, and security measures in managing AI risks within organizations.

Risk Management Key in Overseeing Implementation of Innovative Technology

Risk managers or their counterparts should be included in organizations’ discussions and activities concerning the use and potential impacts of artificial intelligence, experts say. Organizations should be proactive in identifying and addressing potential AI exposures. John Farley of Arthur J. Gallagher & Co. recommends incorporating AI into cyber incident response plans due to its rising prominence in data breaches. Ensuring adequate oversight, privacy controls, and security measures are essential in managing AI risks within organizations.


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