Risk Management Show AI's Role in Risk Management: Transform or Trouble with Sumith Sagar.
Oct 4, 2024
Sumith Sagar, Associate Director of Product Marketing at MetricStream, brings 15 years of experience in risk technology to the table. He discusses how AI is revolutionizing Governance, Risk, and Compliance (GRC), enhancing decision-making and operational efficiency. With a focus on ethical implementation, he explores challenges like transparency and accuracy in AI models. Sumith shares fascinating insights on AI's role in tackling cybersecurity threats and supporting sustainability efforts, making a compelling case for its integration in risk management.
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AI's Impact
- AI's increased relevance stems from the power it now gives individuals through tools like ChatGPT.
- This accessibility has changed business, impacting risk managers significantly.
AI in GRC
- AI is not new to financial risk management, but its use in non-financial risk management is still developing.
- The increasing number of crises, from geopolitical to cyber attacks, necessitates AI adoption in GRC.
AI Benefits and Challenges
- Leverage AI for quicker, predictable risk management decisions, improving GRC data efficiency and accuracy.
- Address challenges like AI model accuracy, biases, and ethical implications for responsible implementation.