Year: 2023
Type: article
Abstract: Organizations that develop and deploy artificial intelligence (AI) systems need to manage the associated risks—for economic, legal, and ethical reasons. However, it is not always clear who is responsible for AI risk management. The three lines of defense (3LoD) model, which is considered best practice in many industries, might offer a solution. It is a risk management framework that helps organizations to assign and coordinate risk management roles and responsibilities. In this article, I suggest ways in which AI companies could implement the model. I also discuss how the model could help reduce risks from AI: it could identify and close gaps in risk coverage, increase the effectiveness of risk management practices, and enable the board of directors to oversee management more effectively. The article is intended to inform decision-makers at leading AI companies, regulators, and standard-setting bodies.
Source: AI & Society
Author: Jonas Schuett
Institutions: Goethe University Frankfurt, Centre for the Governance of AI
Language: English
Subfield: Safety Research
Field: Social Sciences
Domain: Social Sciences
Open Access status: hybrid
Estimated APC paid: $2,890
OpenAlex ID: W4389052201