Abstract
Purpose – the number of projects and amount of investment into Artificial Intelligence (AI) based business process au-tomation is increasing. To utilize the power of AI, business organizations shall achieve a certain level of digital maturity that enables of handling the risks arising from AI. AI brings new risk factors to their life that has to be reduced to an ac-ceptable level. If risk mitigation procedures are not in place, then AI might cause a greater headache than a market ad-vantage resulting in expensive implementation with no business benefit. Research methodology – the objective is to analyze what risk factors can AI bring with itself to the life of corporations by analyzing general IT risk assessment processes and the stages of AI development. Findings – We observed that current IT risk assessment methodologies don’t detail possible risk scenarios regarding in-telligent applications and don’t extend their threat catalogs to help organizations consider threats related to AI. Research limitations – the research work details possible risks for general AI development that might differ across in-dustries, business cases, specific algorithms etc. Practical implications – the research contributes to organizations to assess possible risks arising from the use of AI. Originality/Value – since AI based automation is the result of recent research work, analyzing risk management aspects of its use can be considered as a new field for further research.
Highlights
Artificial Intelligence (AI)-based solutions gained extreme popularity in recent years that is due to several advancements in its supporting technology
The main objective of the article was to understand the general main risks that shall be considered when performing IT Risk assessments as an internal business process for business organizations
The authors performed literature reviews to obtain an overview of general IT risk assessments and the development phases of intelligent system applications that have led to the conclusion that the general risk assessment processes can be applied, the threats, vulnerabilities and mitigating procedures shall be appropriately adjusted as described above
Summary
AI-based solutions gained extreme popularity in recent years that is due to several advancements in its supporting technology (such as Big Data and hardware capabilities). The concept of AI itself exists for a long time and first, it was expressed by John McCarthy that has organized in the summer of 1956, a two-month work program in Dartmouth for the researchers of computer intelligence (McCarthy, Minsky, Rochester, & Shannon, 1955). These early years, AI meant a computer system that could produce human intelligence, but AI was more like a set of conditions that have led to a conclusion by evaluating logical expressions that lie on the principle of traditional/classical computer programming.
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