Posts Tagged ‘artificial intelligence’
Talking AI and ‘Model Risk’
Today we have a heads up for all you compliance officers in the financial services sector: Radical Compliance and Forensic Risk Alliance will be hosting a webinar on Jan. 29 exploring the risks of artificial intelligence, and the new governance and risk management methods you’ll need to develop to keep those AI risks in check.…
Read MoreFTC Strikes Again on AI Controls
The Federal Trade Commission has dinged a California business for making misleading statements about the accuracy of facial-recognition technology that the company sells — yet another enforcement action over artificial intelligence that offers numerous lessons for corporate compliance and audit professionals. The company in question is IntelliVision Technologies, a subsidiary of Nice North America, which…
Read MoreA Telling Move by CFPB
Compliance officers who want to skate where the puck is going to be, cast your eyes to the Consumer Financial Protection Bureau. Last week the agency warned companies to tread carefully when using artificial intelligence and other digital tracking to make employment decisions, and in doing so dropped two telling hints about the future of…
Read MoreJustice Dept. Talks AI Concerns
The Justice Department wants companies tinkering with artificial intelligence to be more open-minded about testing their AI systems and products for vulnerabilities, and specifically wants them to adopt a “vulnerability disclosure program” much the same way tech companies already disclose software bugs. So says Nicole Argentieri, head of the Criminal Division, who delivered a speech…
Read MoreRepository of AI Risks Available
Some red meat today for everyone panicking about the risks (compliance or otherwise) of artificial intelligence: the brains at MIT have published a catalog of more than 700 potential risks from organizations’ use of AI, which you can use as food to fuel your AI risk management program. A team of MIT researchers known as…
Read MoreAn Accountability Model for AI
Who’s looking for another thoughtful speech about the compliance implications of artificial intelligence? Because we have one from a top banking regulator in the United States, who raises deep issues about AI that go well beyond the banking sector. The speech comes from Michael Hsu, head of the Office of the Comptroller of the Currency,…
Read MoreNew Help for AI Risk Analysis
We can never get enough help assessing the risks of artificial intelligence these days, so today let’s call out a new effort from the National Institute of Standards and Technology that internal auditors, IT auditors, and cybersecurity risk professionals might find useful. NIST launched a pilot program last week called ARIA (Assessing the Risks and…
Read MoreStating Your Ethical AI Principles
Today we have another chapter in our ongoing series about artificial intelligence, and how companies can take a more compliance-aware approach to integrating AI into their operations. This time around I want to look at what the companies themselves are disclosing to the public. The idea came to me as I was researching my previous…
Read MoreWhat Boards Are Saying About AI
Today I want to start an occasional series about artificial intelligence, and how businesses can take a more risk- and compliance-aware approach to integrating AI into their operations. We might as well start that exploration at the top: What are boards saying about how they oversee the adoption of artificial intelligence? Not much, apparently. At…
Read MoreSEC Talks AI Enforcement Risk
We have more advice this week on artificial intelligence, this time from a top voice at the Securities and Exchange Commission who urged companies to do better at crafting — and implementing — thoughtful policies to govern AI risks. The speech came from Gurbir Grewal, head of the SEC’s Enforcement Division. He gave a speech…
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