Cloud Security Alliance Introduces Comprehensive AI Model Risk Management Framework
datanami, Friday, July 26th, 2024
The Cloud Security Alliance (CSA), an organization dedicated to defining and raising awareness of best practices to help ensure a secure cloud computing environment, released a new paper that offers guidelines for the responsible development, deployment, and use of AI models
The report, titled 'Artificial Intelligence (AI) Model Risk Management Framework,' showcases the critical role of model risk management (MRM) in ensuring ethical, efficient, and responsible AI use.
'While the increasing reliance on AI/ML models holds the promise of unlocking the vast potential for innovation and efficiency gains, it simultaneously introduces inherent risks, particularly those associated with the models themselves, which if left unchecked can lead to significant financial losses, regulatory sanctions, and reputational damage. Mitigating these risks necessitates a proactive approach such as that outlined in this paper,' said Vani Mittal, a member of the AI Technology & Risk Working Group and a lead author of the paper.