Tag: #AIRiskManagement
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AI & Supply Chain Risk Management Overview
One goal of this article is to give an overview of the risk management issues with company supply chains and how AI technologies are impacting it. Another goal is to begin the discussion about mitigations for the unique set of risk management issues associated with today’s supply chains, including emerging risks.
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The Risks of Shadow AI and How to Manage Them
‘Shadow AI’ refers to the unauthorized use of AI tools outside an organization’s control. Many AI tools are being used without the permission of company management. Companies should not allow ‘Shadow AI’ usage due to significant risks and potential consequences.
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Core Requirements Shared by Compliance Laws & Regulations
While compliance laws may vary in terms of scope and enforcement mechanisms, they commonly focus on protecting individual privacy rights, ensuring transparency and accountability in data handling practices, granting rights to consumers, and emphasizing robust security measures. By focusing on meeting this core subset of common compliance law requirements described above a lot of business…
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How to Get Started with Risk Registers (aka Logs) from Ground 0
A basic centralized risk management tool like the risk register tool described can go a long way in enabling business success and continuity with little investment. Using a tool like this with the appropriate processes is not just beneficial but essential for enhancing operational efficiency, ensuring compliance, reducing costs, and preparing businesses for future challenges.
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Data Governance is Closely Linked to Business Risk Management
As explained earlier in the Nimble Risk Management Consulting ‘Crossroads of Business Efficiency & Risk & Data Governance’ article series: Effective data governance is essential for managing risks associated with data quality, security, and compliance. Data governance helps address many aspects of business risk, and data governance and risk management are closely linked. This is…
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What is Nimble Data Risk Management?
GRC stands for Governance, Risk, and Compliance, a new acronym being heard much more frequently lately. A GRC framework is a model for managing all compliance and governance risks in a company. Too often GRC and corporate governance in general have been unwieldy high overhead activities. Nimble Data Risk Management (NDRM) has evolved to bring…
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All Companies are Software Companies These Days
Today all companies are software companies, but many haven’t yet realized or fully understood the implications. This is because today’s software is used in almost all aspects of running a company no matter what type of business, even if a company doesn’t produce software as a product. In addition, almost all companies are producing and…
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The Many Org Structures Companies Use for Compliance & Data Governance
GRC stands for Governance, Risk and Compliance and the acronym is being heard much more frequently recently. A GRC framework is a model for managing compliance and governance risks in a company. The framework has been named GRC because many business risks have been found to originate with how regulatory compliance is being managed or…
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New Company Roles Emerge for New Compliance & Data Governance Needs
New Regulatory Compliance Laws and Regulations are Emerging QuicklyNew risk management needs are constantly arising as regulatory compliance laws and regulations continue to evolve. To be successful business need to integrate responsible risk management practices into everyday operations, especially for emerging disruptive technologies such as AI. As these laws and regulations evolve businesses must be…
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AI Agents Have Arrived & Need Data Governance & Need It Now
Just a few years AI burst into the mainstream news and consciousness and today it seems every time we turn around we hear about AI. AI technology is moving so quickly that few people can actually keep up with it, but that has not stopped businesses from starting to adopt AI to be competitive and…
