Risk Management in Generative AI Applications

Identify and mitigate operational, legal, and reputational AI risks.

Pillar

Process – Workflow, Governance, Risk & Efficiency

Overview

This course equips participants with the knowledge and tools to proactively identify, assess, and manage risks associated with deploying Generative AI in enterprise settings. It covers operational, legal, ethical, and reputational risks, providing practical strategies to safeguard AI initiatives.

Learning Objectives

Participants will be able to:

• Recognize various risk types related to Generative AI deployments

• Conduct comprehensive risk assessments for AI projects

• Develop mitigation strategies tailored to operational and legal challenges

• Implement controls to minimize reputational damage from AI misuse

• Establish ongoing risk monitoring and response plans

Target Audience

• Risk managers and compliance officers

• AI project managers and technical leads

• Legal and regulatory professionals

• Business leaders overseeing AI adoption

Duration

20 hours over 4 days (5 hours per day)

Delivery Format

• Case studies and scenario analyses

• Risk assessment workshops

• Group discussions and mitigation planning exercises

Materials Provided

• Risk assessment templates and checklists

• Mitigation strategy frameworks

• Incident response plan samples

• Certificate of completion

Outcomes

• Conduct effective risk assessments for GenAI applications

• Develop and implement tailored risk mitigation strategies

• Strengthen organizational resilience against AI-related threats

• Foster a risk-aware culture around Generative AI usage

Outline / Content

Day 1: Understanding AI Risks

• Overview of operational, legal, ethical, and reputational risks

• Case studies of AI failures and their impacts

• Risk identification techniques

Day 2: Risk Assessment Methodologies

• Frameworks for evaluating AI project risks

• Quantitative and qualitative risk analysis tools

• Prioritizing risks based on impact and likelihood

Day 3: Mitigation Strategies and Controls

• Designing technical, organizational, and procedural controls

• Legal compliance and ethical safeguards

• Communication and stakeholder management

Day 4: Risk Monitoring and Incident Response

• Establishing continuous risk monitoring systems

• Preparing incident response and recovery plans

• Final workshop: Building a risk management plan for a GenAI project