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Once we had silent cyber, now we have silent AI. Interestingly, AI is being categorized as a force multiplier for other enterprise-wide risks and associated losses across technology E&O, professional indemnity, and D&O policies. Yet cyber is also a risk that is a force multiplier across the same insurance categories.
What happens when AI becomes a risk that affects cyber risk? How do you categorize a force multiplier adding to a force multiplier? We are only at the start of the AI journey, and frontier models such as Mythos are already creating significant concerns for the Finance Industry.
Interestingly, organisations’ management of cyber risk is, at best, poor, and their management of AI risk is also poor. Insurers now have to deal with how to price 2 major risks with little or no ‘Left of Bang’ data. As insurers and the insured found it difficult to manage cyber risk, how do we think they will change to manage AI risk? Risk management only happens when there is an understanding of the risk.
@Thaddeus Dziekanowski?
#cybersecurityriskmanagement #airiskmanagement #aigovernance
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