AI Risk Management, Governance and Responsible AI

Artificial Intelligence has moved rapidly from an emerging technology to an important business tool used in areas such as banking, financial services, healthcare, telecommunications, manufacturing, marketing, customer service, fraud detection and decision-making. However, the increasing adoption of AI has also created new categories of organisational risk, including algorithmic bias, privacy violations, cybersecurity threats, model errors, lack of transparency, intellectual-property concerns, regulatory exposure and reputational damage.

In response to these emerging risks, organisations and regulators around the world have increasingly developed structured approaches for governing and managing AI. A major development was the NIST Artificial Intelligence Risk Management Framework (AI RMF), released in January 2023 to help organisations designing, developing, deploying or using AI systems manage AI-related risks and promote trustworthy and responsible AI. NIST's framework is organised around four functions: Govern, Map, Measure and Manage.

Another major development is ISO/IEC 42001:2023, the world's first international standard specifically establishing requirements for an Artificial Intelligence Management System (AIMS). The standard provides organisations with a structured approach to establishing, implementing, maintaining and continually improving responsible AI governance.

The emergence of generative AI has made AI risk management even more important. NIST has also developed a Generative AI Profile to help organisations identify and manage risks that are particularly associated with generative AI.

This course therefore provides participants with a practical understanding of how to identify, assess, govern, monitor and mitigate AI-related risks while allowing organisations to take advantage of AI innovation responsibly.

Course Objectives

At the end of this programme, participants should be able to:

1. Understand the fundamentals of Artificial Intelligence, Machine Learning and Generative AI and their implications for organisations.
2. Identify the major strategic, operational, financial, regulatory, ethical, cybersecurity and reputational risks associated with AI.
3. Understand the principles of Responsible AI, including fairness, transparency, accountability, safety, privacy and explainability.
4. Apply the NIST AI Risk Management Framework to identify, assess and manage AI-related risks.
5. Understand the four key NIST AI RMF functions: Govern, Map, Measure and Manage.
6. Understand the fundamentals of ISO/IEC 42001 Artificial Intelligence Management Systems and how organisations can establish AI governance structures.
7. Develop practical approaches for identifying and assessing AI model and algorithmic risks.
8. Understand how AI can create risks relating to data privacy, cybersecurity, fraud and information security.
9. Identify and manage bias, discrimination and unfair outcomes arising from AI systems.
10. Understand the risks associated with Generative AI and Large Language Models (LLMs), including hallucinations, misinformation, data leakage and misuse.
11. Develop effective AI policies, controls and governance frameworks within an organisation.
12. Establish appropriate roles, responsibilities and accountability mechanisms for AI governance.
13. Integrate AI risk management into existing Enterprise Risk Management (ERM), GRC, compliance and internal control frameworks.
14. Develop AI risk registers, controls and Key Risk Indicators (KRIs) for monitoring AI-related exposures.
15. Improve organisational decision-making by balancing AI innovation, business opportunities and risk management.

Benefits of the Course

• Participants and their organisations will benefit from the programme in the following ways:
• Better Understanding of AI Risks: Participants will gain a clear understanding of the risks associated with deploying and using AI, enabling them to make better-informed business and technology decisions.
• Stronger AI Governance: The course will help organisations establish appropriate AI governance structures, policies, responsibilities and controls.
• Improved Regulatory & Compliance Readiness: Participants will become more familiar with international approaches to AI governance and risk management, helping their organisations prepare for evolving regulatory expectations.
• Reduced Cybersecurity & Data Risks: The programme addresses risks relating to sensitive information, data leakage, cyberattacks, insecure AI applications and inappropriate use of organisational data.
• Better Management of AI Bias: Participants will learn how to identify and manage algorithmic bias and other factors that can result in unfair or discriminatory AI-driven decisions.
• Improved Risk Identification & Assessment: Participants will learn practical methods for creating AI risk registers, assessing AI risks, assigning controls and monitoring residual risk.
• Responsible Adoption of Generative AI: The programme helps organisations use tools such as generative AI while putting appropriate safeguards around accuracy, confidentiality, intellectual property, privacy and accountability.
• Enhanced Customer & Stakeholder Trust: Responsible AI practices can improve transparency, reliability and confidence in AI-enabled products and services. ISO notes that its AI management-system standard is designed to support responsible AI, transparency, traceability and reliability.
• Integration with Enterprise Risk Management: Participants can connect AI risk management with existing ERM, operational risk, information-security risk, compliance and internal audit frameworks rather than treating AI as an isolated technology issue.
• Competitive Advantage: Organisations that can adopt AI while effectively managing its risks are better positioned to innovate without exposing themselves unnecessarily to financial, operational, regulatory or reputational losses.

Who Should Attend

This programme is suitable for:

• Chief Risk Officers (CROs)
• Risk Managers and Risk Officers
• Enterprise Risk Management Professionals
• Operational Risk Managers
• Compliance Officers
• Internal Auditors
• Information Security Officers
• Cybersecurity Professionals
• IT Managers and IT Risk Professionals
• Data Protection Officers
• Data Scientists and Data Analysts
• AI/ML Professionals
• Technology and Digital Transformation Managers
• Corporate Governance Professionals
• Legal and Regulatory Affairs Professionals
• Fraud Risk Management Professionals
• Business Continuity and Resilience Professionals
• Finance and Accounting Professionals
• Banking and Financial Services Professionals
• FinTech Professionals
• Insurance Professionals
• Government and Public-Sector Officials
• Senior Managers and Business Executives
• Board Members and Directors responsible for technology, risk or governance
• Consultants and Professional Advisers
• Business owners and entrepreneurs adopting AI technologies.

Course Booking

Please use the "Book Now" or "Inquire" buttons on this page to reserve your space or request for more information