The latest set of AI guidance from the Cloud Security Alliance (CSA) explores the importance of Model Risk Management (MRM) in ensuring the responsible development, deployment, and use of AI/ML models. Written for a broad audience, including practitioners directly involved in AI development and business and compliance leaders focusing on AI governance, Artificial Intelligence (AI) Model Risk Management Framework emphasizes the role of MRM in shaping the future of ethical and responsible AI.
“While the increasing reliance on AI/ML models holds the promise of unlocking vast potential for innovation and efficiency gains, it simultaneously introduces inherent risks, particularly those associated with the models themselves, which if left unchecked can lead to significant financial losses, regulatory sanctions, and reputational damage. Mitigating these risks necessitates a proactive approach such as that outlined in this paper,” said Vani Mittal, a member of the AI Technology & Risk Working Group and a lead author of the paper.
Highlighting the inherent risks associated with AI models (e.g., data biases, factual inaccuracies or irrelevancies, and potential misuse), the paper…
