AI Risk Assessment
A systematic process of identifying, analysing and evaluating potential risks associated with an AI system across technical, ethical, legal and societal dimensions.
In plain language
A structured approach to identify what could go wrong with an AI system and rate how likely and serious each risk is. Like a risk register, but specifically designed for AI-related concerns.
Why this matters
AI risk assessment is foundational to any AI governance framework. Without a structured approach, organisations cannot make informed decisions about AI investments or implement appropriate safeguards. It enables boards to understand exposure and technical teams to design mitigations.
Relevance
GovernanceRisk assessment provides the basis for governance decisions, helping organisations determine approval criteria, oversight requirements and escalation pathways for AI projects.
Related terms
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