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Isaca: Ai Risk Guidance

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By Author: Arina Smith
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ISACA has released a new resource titled "The Promise and Peril of the AI Revolution: Managing Risk" to address the growing excitement and concerns surrounding generative artificial intelligence (AI) applications like OpenAI's ChatGPT and Google's Bard. The resource acknowledges the benefits of generative AI while highlighting the evolving risk landscape and offers guidance for risk professionals to navigate it effectively.

The paper delves into various potential risks associated with generative AI, including issues related to ownership, internal permission structures, data integrity, cybersecurity, and broader societal implications. Recognizing that AI will impact all industries, the paper outlines four critical steps for organizations to maximize AI benefits while implementing necessary safeguards:

1. Identify AI benefits.
2. Identify AI risks.
3. Adopt a continuous risk management approach.
4. Implement appropriate AI security protocols.

These steps help leaders strike a balance between risk and reward when integrating AI tools and processes into their enterprises. Additionally, the ...
... paper provides eight protocols and practices for establishing AI security programs, including measures such as trust verification, acceptable use policies, appointing AI leads, and cost analysis.

Jason Lau, Chief Information Security Officer of Crypto.com and ISACA Board Director, emphasizes that delaying the implementation of proper AI security and risk management plans can pose risks to organizations. He stresses the importance of prioritizing the establishment of AI infrastructure and governance processes aligned with ethical principles.

ISACA's resource on AI risk management can be accessed for free on their website. This resource supplements ISACA's existing content and guidance on artificial intelligence.

About ISACA:
ISACA has been serving individuals and enterprises for over 50 years, offering knowledge, credentials, education, training, and a community to advance careers and promote trust and ethics in the digital world. With 170,000 members working in digital trust fields such as information security, governance, assurance, risk, privacy, and quality, ISACA operates globally with a presence in 188 countries and 225 chapters worldwide. Through its foundation, One In Tech, ISACA supports IT education and career opportunities for underresourced and underrepresented populations.

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