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Saturday, March 28, 2020

Emergence of the AI Risk Manager

In our day this was integrated with other kinds of analysis and management.   It may well make sense to focus this more generally. 

The emergence of the professional AI risk manager

By Kenn So  in Venturebeat

When the 1970s and 1980s were colored by banking crises, regulators from around the world banded together to set international standards on how to manage financial risk. Those standards, now known as the Basel standards, define a common framework and taxonomy on how risk should be measured and managed. This led to the rise of professional financial risk managers, which was my first job. The largest professional risk associations, GARP and PRMIA, now have over 250,000 certified members combined, and there are many more professional risk managers out there who haven’t gone through those particular certifications.

We are now beset by data breaches and data privacy scandals, and regulators around the world have responded with data regulations. GDPR is the current role model, but I expect a global group of regulators to expand the rules to cover AI more broadly and set the standard on how to manage it. The UK ICO just released a draft but detailed guide on auditing AI.  https://ico.org.uk/about-the-ico/ico-and-stakeholder-consultations/ico-consultation-on-the-draft-ai-auditing-framework-guidance-for-organisations/   The EU is developing one as well. Interestingly, their approach is very similar to that of the Basel standards: specific AI risks should be explicitly managed. This will lead to the emergence of professional AI risk managers.  ... "

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