What Is AI Risk Management?
IBM News, Thursday, June 20th, 2024
AI risk management is the process of systematically identifying, mitigating and addressing the potential risks associated with AI technologies. It involves a combination of tools, practices and principles, with a particular emphasis on deploying formal AI risk management frameworks.
Generally speaking, the goal of AI risk management is to minimize AI's potential negative impacts while maximizing its benefits.
AI risk management and AI governance
AI risk management is part of the broader field of AI governance. AI governance refers to the guardrails that ensure AI tools and systems are safe and ethical and remain that way.