Organizational risk, a concept often overlooked, focuses on the risk of harm to organizations rather than individuals.
Organizational risk has two facets - business integrity risk and consequential risk - that must be treated holistically by organizations.
Quantified risk measurements are crucial for stakeholders to make informed decisions and plan for potential harms related to AI systems.
Understanding and measuring different types of AI risks is essential for organizations to plan, allocate resources effectively, and ensure long-term success.