Artificial intelligence (AI) changes business strategies, solutions and processes. Not to be neglected at this point are the risks that can come with AI. To create integrated governance for AI, manage risks, and improve performance, applying enterprise risk management (ERM) principles can be purposeful. The COSO ERM Framework provides an overarching and comprehensive framework that can form the basis for aligning risk management with AI strategy and performance. Thus, the overall potential of AI can be realized.
The use of the COSO framework to implement and scale AI is addressed in new report „Applying The Coso Framework and Principles to help Implement and Scale Artificial Intelligence“ from the Committee of Sponsoring Organizations of the Treadway Commission in cooperation with Deloitte.
You can read the report here.