Artificial Intelligence

Evolving Risk Guidance and Considerations

Joel Lanz, CPA, CISA, CISM, CISSP, CFE

Interest in artificial intelligence (AI) has surged since ChatGPT's public release. ChatGPT responded to my “What is ChatGPT?” query by proclaiming: “It can answer questions, provide explanations, generate creative content, and engage in dialogues, making it a versatile tool for various language-related tasks.” In other words, ChatGPT and similar tools have, in some ways, democratized AI by bringing its capabilities to the masses. This potential has already captured the attention of executive management and boards of directors, and has fueled their imagination for new business models and sources of profit. Technology vendors have also noted and infused their offerings and marketing campaigns with AI or, in some cases, rebranding their offerings as leveraging the technology. Organizations face macro (significant environmental and societal) issues, usually outside the organization's control, and micro, typically issues the organization can manage.