Articles

The adoption of artificial intelligence (AI) presents both unparalleled opportunities and significant risks. Rehgan Avon, co-founder and CEO of AlignAI, provided a comprehensive overview of the challenges companies face when integrating AI solutions, including costs, security vulnerabilities, ethical considerations, reputational risks and regulatory requirements, in a recent Risk Series event. Here are some key takeaways from her presentation:

What does the future of AI look like? No one knows. Insights and information from The Risk Institute shows just how difficult it is to regulate such powerful tools — and how some countries and organizations are trying.

Despite being relatively new, there is a lot of excitement and adoption around blockchain technology and one of blockchain’s most common use cases: cryptocurrency. We gathered three experts – Fisher College of Business Finance Professors Amin Shams, PhD, and Yufeng Wu, PhD, and Ohio Blockchain Council Founder and Executive Director Andrew Burchwell – to discuss the global adoption, implications and use cases of these technologies and what professionals and organizations should know about the field moving forward.

Disasters like the Lahaina fire are a wake-up call revealing how unprepared we are to face simultaneous threats in a warming world.

Over the past several years, we have seen an increasing focus on climate change and other related environmental considerations from businesses worldwide. Most recently, the unprecedented increase in wildfire frequency and severity has highlighted a new and complex challenge for some businesses. 

On July 26, the U.S. Securities and Exchange Commission (SEC) formally approved and adopted new cybersecurity disclosure rules for public companies. First proposed on March 9, 2022, and then closed and reopened several times for comment periods through May 2023, the highly anticipated new rules require registrants to disclose material cybersecurity incidents they experience and to disclose on an annual basis material information regarding their cybersecurity risk management, strategy and governance. Foreign private issuers are also required to make comparable disclosures. 

In today's rapidly evolving business landscape of emerging technologies and capabilities, geopolitical instability and unforeseen global events, organizations are facing unprecedented challenges. Traditional notions of enterprise risk management and contingency planning are proving to be challenging in a new era where disruptions can strike from multiple fronts simultaneously. As a result, enterprise resiliency has emerged as a critical priority for organizations aiming to thrive in the face of adversity and uncertainty.

In the absence of legal guidelines, companies need to establish internal processes for responsible use of AI.

A wise uncle once said to his nephew in a movie, “with great power comes great responsibility.” This adage has never been more true as it pertains to the emergence and popularity of AI. However, organizations are starting to reflect on and question who ultimately bears this responsibility from an enterprise risk management perspective.