Key Takeaways AI skepticism remains a hurdle: While interest in AI is high, doubts about accuracy, safety, and trust persist. This emphasizes the need for accurate, transparent, explainable AI models with validation and governance. Focus on time savings for overworked teams: A major draw of AI is automating repetitive tasks and finding pain points. This …
Recently, AT&T issued a concise statement, spanning 183 words, acknowledging a data breach. The breach exposed 65 million records containing sensitive personal information. You can find the statement on AT&T’s website: AT&T Addresses Recent Data Set Released on the Dark Web (att.com). As a risk manager, two phrases caught my attention: “…it is not yet …
Data analytics and the realm of artificial intelligence hold immense power for businesses, but unlocking their full potential can be complex. Power BI, a leading business intelligence tool, excels at gathering data from various systems, visualizing it, and creating insightful reports. But that’s it. You still need to make decisions and execute them based on …
AI copilots are generative AI engines that assist users in point tasks such as writing emails, summarizing customer cases, and generating code. AI copilots can be used in a variety of business functions, including marketing, customer service, and software development. However, AI copilots assist one person with one task at a time. They improve personal …
In Third-Party Risk Management (TPRM), adopting Artificial Intelligence (AI) presents both an opportunity and a dilemma. One, if you should use AI, and second, for what tasks. I talked with TPRM experts Sam Abadir and Tom Garrubba about responses from a recent poll among approximately 1,000 risk management professionals. We reviewed the questions and responses …
Retrieval augmented generation (RAG) is revolutionizing AI by infusing language models with timely and relevant external data. This technique is pivotal in delivering not just intelligent but informed AI responses. In this podcast, Chris and I explain what RAG is, how it functions, its impact on AI’s performance, and the challenges it helps overcome. Key …
2024 AI Predictions What does the internet say about AI? What do the AI pundits think will happen? We were curious, too. In our quest to understand what was being predicted for AI in 2024, we reviewed a set of diverse sources to analyze and merge a myriad of predictions to provide a consolidated overview. …
Most third-party risk lifecycles adhere to a similar pattern: planning, due diligence, contract negotiations, ongoing monitoring, and termination. However, the management and responsibility of these processes differ significantly across organizations. Traditionally, the information security department carried this burden, but recent events like Covid, regional wars, political changes, and socially-focused laws have broadened organizations’ risk perception …
Embracing technological change via automation and artificial intelligence (AI) is no longer optional; it’s a necessity. Delaying AI use in your company can hinder progress and put you farther behind your competitors. However, embracing AI adoption is not without its apprehensions. Your concerns about unknown outcomes and hallucinations are valid but are easily overcome with …
The competition among Large Language Models (LLMs) is just beginning. Who had even heard of LLMs a year ago? Certainly, the early market leader has been OpenAI, but the past few days have shaken things up. With unpredictable swings in leadership and fleeting triumphs akin to the world of sports, the battle for supremacy in …
