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A great article on why insurance carriers are adding AI exclusions and why AI governance is essential………….reaffirming Brian D. McCarthy why our Board Governance over AI program was written around the NIST AI RMF.
AI is becoming a risk that insurers do not want to carry, with several insurers looking to bring in exclusions and limitations over AI-related claims. Insurers are presenting the same message about the risks of using AI, as AI is increasingly being adopted by organisations, working its way into many areas of operations.
In many respects, AI is mirroring cyber risk. Its speed of harm, a single point of failure, breadth of risk surface, and integration into core corporate operations, with the added ‘ability to generate its own loss pathways,’ is creating real concerns behind the hallowed walls of risk transfer experts. Add to this a distinct lack of understanding and governance by boards, and adopting AI becomes a significant risk to corporates. Requiring bords demonstrate governance over AI.
@Thaddeus Dziekanowski, Gerry Kennedy
@Parava Security Solutions
#ai #aiboardgovernance
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