AI risk assessment frameworks

AI Security and Risk Management

Angeline Corvaglia

Founder and Digital Transformation Expert

Formal risk assessments

  • What they include
  • Why they are important
  • How they can guide efforts

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Combined with ongoing internal checks and balances

AI risk assessment

AI Security and Risk Management

What are the benefits?

benefits of a risk assessment

  • Baseline understanding of the potential risks
  • Comprehensive perspective
  • Adaptivity as circumstances change
  • Legal and regulatory compliance
AI Security and Risk Management

Elements of a risk assessment

  1. Identify possible risks
  2. Analyze the risks
  3. Evaluate seriousness and tolerance for risk
  4. Develop strategy to manage, reduce, or eliminate risk

elements of a risk assessment

AI Security and Risk Management

EU AI Act

Risk assessment is a cornerstone

  • Unacceptable risk
  • High risk
  • Limited risk
  • Minimal risk

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For high-risk AI systems

  • Risk assessment
  • Risk management system

measuring risk levels

AI Security and Risk Management

Internal checks and balances

  • Catch emerging risks or unexpected behavior
  • Set based on risk assessment
  • Act as an early warning system

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Examples:

  • Regular bias testing
  • Performance degradation

internal checks and balances

AI Security and Risk Management

This isn't just about ticking boxes

  • Risk assessments provide a path

  • Internal checks and balances act as the guardrails

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Effective risk management

  • Continuous vigilance
  • Supported by formal controls

Roadmap and guardrails

AI Security and Risk Management

Let's practice!

AI Security and Risk Management

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