Day 1: Foundations of COSO ERM and AI Governance
Session 1: Introduction to COSO ERM and AI
- Overview of the COSO ERM framework.
- Key components of AI technologies and their applications.
- Aligning AI initiatives with organizational objectives using COSO.
Session 2: Governance Frameworks for AI
- Key AI governance frameworks: OECD AI Principles, ISO/IEC AI Standards.
- Integrating COSO with AI-specific governance models.
- Practical exercise: Mapping AI projects to COSO components.
Session 3: Ethical Considerations in AI
- Importance of ethics in AI development and use.
- Addressing bias, transparency, and accountability in AI systems.
- Group discussion: Ethical dilemmas in AI deployment.
Session 4: Risk Identification and Assessment in AI
- Latest global risks in AI, including data security and misinformation.
- Tools for identifying and assessing AI-specific risks.
- Case study: AI misuse in misinformation campaigns.
Session 5: Workshop
- Group activity: Identifying and mitigating risks for a hypothetical AI project.
- Peer feedback and expert guidance.
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Day 2: Advanced Applications and Case Studies
Session 1: Case Studies of AI Failures
- Examples of AI failures and their impacts:
- Facial recognition errors in law enforcement.
- Biased algorithms in hiring processes.
- Chatbot reputational scandals.
- Lessons learned and preventive strategies.
Session 2: Reputational Risks of AI
- Understanding reputational risks associated with AI adoption.
- Mitigation strategies: Communication, transparency, and stakeholder engagement.
- Practical exercise: Designing a reputational risk response plan.
Session 3: Benefits of AI in Risk Management
- AI-driven predictive analytics and decision-making.
- Automating compliance and improving operational efficiency.
- Case examples: AI improving risk detection in financial services.
Session 4: AI and COSO in Practice
- Practical steps for aligning AI initiatives with COSO.
- Monitoring and reporting AI risks through COSO’s lens.
- Interactive exercise: Creating an AI governance roadmap.
