AI Risk Assessment in Chicago

The launch of ChatGPT 3.5 unleashed business adoption of Generative AI applications, fueled as much by pragmatism and opportunity as it has by fear of missing out (FOMO).

But business leaders, technical experts, and regulators all understand that Generative AI (GenAI) also brings risks that aren’t always apparent.

From agentic cascading failures to IP theft to bias to hallucinations to the speed at which threats can arise and spread, everything from our corporate reputations to public safety is at risk both internally and externally.

AI Risk Assessments and governance processes help manage those risks, which are already being called for by US and EU regulators and standards bodies.

The California CCPA and upcoming EU AI Act both mandate risk assessments to understand how the benefits of using AI outweigh risks to the public. ISO 42001 and NIST’s AI Risk Management Framework tell organizations how risk management processes should work. And ETSI TR 103 935 goes further, stating that organizations doing business in the EU single market must perform risk assessments using DoCRA (Duty of Care Risk Analysis).

What is an AI Risk Analysis?

AI risk analysis is, at its core, a set of decisions that allows us to balance risks and benefits. When organizations understand what threats can cause harm to themselves and others, they can decide if mitigations are required for specific use cases.

When the burden of a safeguard is outweighed by the risk it mitigates, that safeguard is deemed reasonable. And it’s reasonable to use AI for that use case if you use that safeguard.

Why HALOCK AI Risk Analysis Services

AI Governance starts with the understanding that your use of AI creates more benefit to all stakeholders than risk to any individual. This is the crux of both the new updates to CCPA and the EU AI Act. It’s also why the US and EU are both citing DoCRA as the process to ensure innovation is balanced with public safety. HALOCK can support your risk strategy to be legally defensible. And we are right here in the Chicago area.

HALOCK’s Artificial Intelligence (AI) Risk Analysis:

• Identifies AI tools already in use at your company.
• Analyses the business case for using each AI tool.
• Performs risk analysis to determine the risk-benefit of using each tool.
• Recommend reasonable safeguards for use cases where risks outweigh benefits.
• Helps you set policies for using AI tools with reasonable safeguards in place.

Review Your AI  Security and Risk Posture

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