A new paper from the Cloud Security Alliance’s AI Technology and Risk Working Group discusses the importance of AI model risk management and explores the core components of a framework for model risk management. These components ‘work together to identify and mitigate risks and improve model development through a continuous feedback loop’ says the paper.
The paper covers:
- The benefits of a comprehensive AI risk management framework, including the more responsible use of AI, enhanced transparency, informed decision-making processes, and robust model validation.
- The elements, benefits, and limitations of the four core components: AI model cards, data sheets, risk cards, and scenario planning.
- How to combine the core components into a comprehensive AI risk management framework.
