Artificial intelligence (AI) is a branch of computer science that aims to create machines or systems that can perform tasks that normally require human intelligence, such as learning, reasoning, decision making, etc.
An organization that is considering adopting AI should be aware of the potential risks and challenges that may arise from using AI, such as ethical, legal, social, technical, operational, or security issues.
The most important course of action for the risk practitioner is to identify applicable risk scenarios. This means that the risk practitioner should analyze the context and objectives of theAI adoption, the stakeholders and their expectations, the data and information sources and quality, the AI models and algorithms and their reliability, the AI outputs and outcomes and their impact, and the AI governance and oversight mechanisms and their effectiveness.
Identifying applicable risk scenarios helps to assess the likelihood and impact of the risks, prioritize the risks, design and implement appropriate risk responses, monitor and evaluate the risk performance, and report and communicate the risk status and issues.
The other options are not the most important courses of action for the risk practitioner. They are either secondary or not essential for AI risk management.
The references for this answer are:
Risk IT Framework, page 24
Information Technology & Security, page 18
Risk Scenarios Starter Pack, page 16
