The Committee of Sponsoring Organizations of the Treadway Commission (COSO) recently introduced a new guidance to risk management in case of cloud technology use.
According to the Journal of Accountancy, organizations need to restructure risk management and internal controls to keep AI-related risks within their ‘appetites’. Effective enterprise risk management in such conditions is the topic addressed in new research presented by the Committee of Sponsoring Organizations of the Treadway Commission.
The guidance “Realize the Full Potential of Artificial Intelligence” describes how an organization can use the COSO Risk Management Framework in implementing and managing AI projects. It was authored by representatives of Deloitte & Touche LLP, so it is not surprising that the following are explanations regarding the use of its own risk management system for artificial intelligence implementation.
Fully aware of all the AI-related risks, modern organizations are able to deliver higher returns on investment and more effectively meet the expectations of their key stakeholders.