AI in Risk Management – Special Interest Group launch Webinar
Andrew Tollinton
Group Chair
Co-founder, SIRV, 🇬🇧 London, United Kingdom
Pauline Norstrom
Co Chair
CEO, Anekanta AI, 🇬🇧 London, United Kingdom
Peter Senkus
Member
Professor, University of Warsaw, 🇵🇱 Warsaw, Poland
Douglas Gray
Member
Strategic Risk Consultant, 🇫🇷 Paris, France
Hart S Brown
Co Chair
CEO, Future Point of View, 🇺🇸 Oklahoma City, United States
Mads Paerregaard
Member
CEO, Human Risks, 🇩🇰 Aalborg, Denmark
Overview
Andrew Tollinton, CEO of SIRV chaired The Institute of Strategic Risk Management‘s AI in Risk Management Special Interest Group webinar, July 2024.
Highlights from the webinar
AI Glossary publication
Overview of the recent AI Glossary publication, aimed at helping boards and risk managers navigate terms used in the world of artificial intelligence.
Opportunities
- Likely need for companies to hire a Chief AI Officer to take advantage of the opportunities.
- Risk Managers lack understanding of AI and therefore miss many opportunities.Organisations are going to take some years to understand how to use AI and whether to invest in man or machine.
- Important to identify whether AI will increase efficiency or effectiveness.
- Most likely man will work with machine rather than, machine run man.
- Access (to talent, expertise and data) is key for competitive edge.
Risks
- ‘Xenophobic machines’, example of AI risk. Dutch government used non-explainable AI to automate a child benefit reclaim system. Over five years the system only targeted people with dual nationality.
- Demonstration of live facial deep fake in webinar. Highlights the opportunity for bad actors to impersonate figures of authority.
- Man with still work with machine rather than machine running man
- Over 90% of people share private company data with artificial intelligence outside their company.
