The A.I. Advantage Show™ Evolvepreneur® AIS002:032 [Peter Faleskini] AI Risks Management: A Comprehensive Guide For Businesses
Welcome to the Evolvepreneur A.I. Advantage Show
Join me, Richard Wray, to gain the A.I. Advantage today where we dive deep into the transformative power of A.I. to help fast-track your business.
My very special guest today is Peter Faleskini ...
This episode discusses the risks of using artificial intelligence with Peter Faleskini, an expert in AI risk management. He warns that companies are often unaware of risks like biases in chatbots from internet data. An example is given of a legal software that shared users' expertise, removing their competitive edge. Peter advises treating AI like racing cars rather than apps, with proper training, risk assessment, and insurance. An interesting future project involves using AI in the movie industry, though details were not provided.
Key Moments:
- Peter Faleskini has extensive experience with AI and business, starting from programming as a kid to working in various sectors like IT, banking, and private wealth management.
- AI risks are often overlooked by businesses that adopt AI solutions. Risks can include biases in chatbots, loss of competitive edge from shared knowledge bases, and negative impacts from internet data used to train models.
- When using AI, it's important to understand where data comes from and where it goes, as well as how algorithms work, to avoid risks.
- Bias is a major issue, as AI systems can pick up and propagate biases from internet data used in training.
- Adversaries can potentially game AI systems by manipulating internet data in ways that influence results.
- AI should be treated like a high-performance tool rather than a simple app, requiring proper risk management, expertise, and controls.
- Automation, optimization and outsourcing are three ways AI can be applied in business, but risks must be mitigated.
- Expert advice on AI risks is recommended over just online research, as an expert can be held accountable for recommendations.
- Courses on AI risk management are available from Peter on Udemy and LinkedIn.
- Future projects involving AI and the movie industry were teased.
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