Reducing AI Harms and Lawsuits through AI Governance, Risk Management, and Compliance

Artificial intelligence is revolutionising industries worldwide, saving time and money, and removing the burden on human workers. However, this is not without risks, as demonstrated by several harms and lawsuits that have been observed in recent years. This white paper explores the risks of using AI, with a focus on HR Tech, Insurtech, biometrics, fintech, healthcare, housing, and social media and generative AI, as well as how AI Governance, Risk, and Compliance can make AI safer and increase trust.