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Artificial Intelligence: A Damocles Sword?

Ravikumar Ramachandran, CISA, CISM, CGEIT, CRISC, CISSP-ISSAP, SSCP, CAP, PMP, CIA, CRMA, CFE, FCMA, CFA, CEH, ECSA, CHFI, MS (Fin), MBA (IT), COBIT-5 Implementer, Certified COBIT Assessor, ITIL-Expert & Practitioner, Account Security Officer, DXC Technology, India
Posted: 12/13/2019 2:58:00 PM | Category: Risk Management | Permalink | Email this post

Ravikumar Ramachandran“Artificial intelligence (AI) is proving to be a double-edged sword. While this can be said of most new technologies, both sides of the AI blade are far sharper, and neither is well understood.” - McKinsey Quarterly April 2019

In Greek mythology, the courtier Damocles was forced to sit beneath a sword suspended by a single hair to emphasize the instability of kings’ fortunes. Thus, the expression “the sword of Damocles” to mean an ever-present danger.

To use this idiom metaphorically, the users of artificial intelligence are like kings, due to the amazing and incredible functionalities brought in by this cutting-edge technology, but have a sword hanging on their head due to the perils of such highly scalable nature.

 
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Who Am I? CRISC Equips Professionals and Organizations with a Valuable Identity

Darren Ellis, Executive Director, Business Risk and Controls, USAA
Posted: 12/10/2019 2:48:00 PM | Category: Risk Management | Permalink | Email this post

Darren EllisAs a risk practitioner, have you ever tried to describe what you do for a living to a family member or a friend? If so, you’ve likely experienced their acquiescent and politely confused reaction as you articulate concepts like risk assessments, controls, tests, tolerance, appetite, key risk indicators, governance and a host of other tactics that are commonly executed as part of a practitioner’s day-to-day responsibilities. At the conclusion of your pride-filled intellectual description, you feel like you did a great job explaining what you do, when your conversational partner replies with, “Wow, that sounds awesome! So, what do you actually do?” Uncertain about how to respond, you begin to retrace your words only to realize that internally, you are asking yourself that very same question, combined now with an unclear perspective about your professional identity. You ponder, “What DO I do, and, who am I as a professional?”

 
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When Everything Old is New Again: How to Audit Artificial Intelligence for Racial Bias

Ellen M. Hunt, J.D. SVP – Audit, Ethics & Compliance Officer, AARP
Posted: 12/6/2019 2:24:00 PM | Category: Audit-Assurance | Permalink | Email this post

Ellen HuntYou may not know it, but artificial intelligence (AI) has already touched you in some meaningful way. Whether approving a loan, moving your resume along in the hiring process, or suggesting items for your online shopping chart, AI touches all of us – and in some cases, with much more serious consequences than just putting another item in your chart.

As this technology becomes more widespread, we are discovering that maybe it’s more human than we would like. AI algorithms have been found to have racial bias when used to make decisions about the allocation of health care, criminal sentencing and policing. In its speed and efficiency, AI has amplified and put a spotlight on the human biases that have been woven into and become part of the Black Box. For a deeper dive into AI and racial bias, read the books, Automating Inequality, Weapons of Math Destruction, and Algorithms of Oppression: How Search Engines Reinforce Racism.

 
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AI and Healthcare: A Life-Saving Combination

Ryan Abdel-Megeid, CISA, Director, Internal Audit, AARP
Posted: 12/3/2019 7:21:00 AM | Category: Risk Management | Permalink | Email this post

Ryan Abdel-MegeidArtificial intelligence (AI) and machine learning are common terms in the world of emerging technology. Although still sounding futuristic to some people, AI is already being deployed everywhere from fantasy football weekly recap emails, to retail environments, to advanced, state-sponsored surveillance systems. In ISACA’s Next Decade of Tech: Envisioning the 2020s research, a recent survey of more than 5,000 global technology professionals, 38% of respondents expect AI and machine learning to be the most important enterprise technology of the next decade – more than cloud platforms (22%), big data (16%) and even blockchain (8%). Ballooning costs, labor shortages, poor service quality, strong public interest, and recent market shifts forcing the enhanced availability of electronic records are strong indicators that few industries will experience the impact of AI more than healthcare.

 
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Overcoming Legacy Thinking a Key Strategy for Actively Shaping The Future

Daniel Burrus, Technology Futurist and Author of “The Anticipatory Organization”
Posted: 12/3/2019 7:20:00 AM | Category: Risk Management | Permalink | Email this post

Daniel BurrusThe rapidly increasing pace of technology change and digital disruption leads to an unprecedented pace at which organizations must address opportunities and risks that could make or break their success. In the new decade of the 2020s, technology-driven exponential change will accelerate even more sharply. Unfortunately, most organizations are ill-prepared for what is to come, and will remain so unless they replace their reactionary approach to the technology landscape with an anticipatory one.

Reactionary strategies are reliant on attempting to become more agile and react quickly after a disruption or problem occurs – perhaps an unforeseen risk related to deploying a new technology or a competitor’s new product that is suddenly commanding market share. While the ability to muster an agile response is an important competency for organizations to possess, the organizations that will succeed in the 2020s and beyond will be the ones that become anticipatory, using hard trends (based on future facts) to identify disruptions before they disrupt and to pre-solve predictable problems.

 
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