Managing the Risks of Generative AI

Something revolutionary has happened. Suddenly, anyone with an internet connection, armed only with the ability to hold a conversation in a chat app, could wield the transformative power of artificial intelligence (AI). After the debut of ChatGPT, AI continues to become ever more deeply intertwined into our lives and businesses. But AI comes with a warning label: “AI systems with human-competitive intelligence can pose profound risks to society and humanity.” Managing the risks is key to success, and businesses will need a risk management framework that allows them to embrace the AI opportunities while helping confirm their use of AI can be trusted.