Risky Business: Finding Your Footing in the AI Impact Assessment Dance

From the EU to Colorado, companies are conducting AI risk and impact assessments to identify and manage AI model and system risks in order to comply with laws or as part of their AI governance programs. But these legal pressures and practices have not translated into a global, interoperable approach to AI impact assessments, with many uncertainties remaining. How often should companies perform assessments and what are their triggers? Should these assessments account for both intended and unintended uses of models and systems? Drawing from the Future of Privacy Forum’s (FPF) recently published work and featuring data governance executives from different industries leading AI risk management efforts across their companies, this panel will provide valuable and timely insights to privacy and data governance professions (such as CPOs, GCs, outside counsel) about trends in emerging structural practices and challenges affecting the industry’s implementation of AI impact assessments.

What you will learn:

• Gain insight into the overarching steps of the AI impact assessment process.
• Discover emerging practices among companies for conducting AI impact assessments.
• Understand the challenges practitioners face in quantifying AI risk and evaluating risk management strategies, along with potential solutions.