The rise of AI and generative artificial intelligence (GenAI) has been impactful in many industries, but there are inherent risks that organizations must navigate to responsibly harness GenAI’s full potential. Recognizing these challenges, regulators like the Department of Justice (DOJ) have introduced measures to promote the ethical and responsible use of this technology.
In this Insights, CRA’s Frank Esposito, Jason Vigeant, and Lauren Gordon explore the benefits and challenges of utilizing GenAI technology, and the importance of proactively adopting best practices and new internal controls around its utilization. Before organizations begin to implement AI and machine learning systems, they should consider conducting risk assessments and tailoring AI solutions to their specific needs, helping to align these technologies with the organization’s overall risk management strategy, enhancing both operational efficiency and security.
Click here to read more about fraud risks in the age of artificial intelligence
