FPF report examines organisations' AI risk management effectiveness

11/12/2024 | Future of Privacy Forum

The Future of Privacy Forum (FPF) has published a report examining the considerations, emerging practices, and challenges companies are experiencing as they attempt to harness the vast potential of artificial intelligence (AI) technology while assessing and mitigating the risks. 

The report, which focuses on the role and use of AI impact assessments, found that:

  • Organisations struggle to obtain full and relevant information from model developers and system providers;
  • Organisations have varying levels of abilities to assess AI risks in different contexts; 
  • There is a lack of understanding about how to measure the effectiveness of risk management strategies;
  • Innovative uses of AI increase risk mitigation uncertainty; 
  • Organisations often seek a variety of information relating to an AI model's training, use cases, capabilities, and more when gathering model-system information;
  • Organisations increasingly seek to integrate AI impact assessments into existing risk management processes, including those relating to privacy; 
  • Organisations use qualitative and quantitative approaches to identify and test AI-related risks.
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artificial intelligence, AI risk

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