Why is AI Risk Management Essential for Your Business?

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Artificial Intelligence is rapidly becoming embedded in our everyday lives, from the apps we use, to search engines, facial recognition, smart devices in our homes, and more. However, while AI has many applications and benefits, and businesses are exploring its use in a variety of ways, there is also a level of risk involved, particularly when it comes to the data that AI uses.

While ISO 42001 is a separate standard and certification, it is also intrinsically linked to ISO 27001, which is the standard for information security, because AI relies on data to perform its functions. It is therefore impossible to effectively manage AI without addressing information management systems as well. Every time anyone makes use of any AI system, whether this is part of corporate strategy or not, there is information that is used and processed.

Even storing information in SharePoint and then using Microsoft Copilot could potentially be problematic, as the AI servers may be located outside of your jurisdiction, and this may breach laws that your company is required to adhere to. If there is an information breach, the potential implications could be dire.

 

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