At Waident, a Chicago-based leader in cybersecurity, we’ve launched a series of expert interviews to share valuable insights into AI technologies. Today’s guest on “Expert View” is Waident’s Chief Information Security Officer, Patrick Giantomasso. We asked Patrick how businesses in the Midwest can navigate AI risks and compliance, ensuring they stay safe and compliant as the challenges of unregulated AI continue to grow.
Interview:
Natalia: Hi Patrick, thanks for joining us! How is AI impacting different sectors, and what are some of the challenges and risks businesses need to be aware of?
Patrick: Hello, and thank you for having me. AI is transforming various aspects of our lives – from healthcare to entertainment, transportation to education. It enhances our capabilities and experiences while introducing new risks. One concerning aspect is its integration into our lives, often without our realization or consent.
Moreover, AI is still a relatively new technology, bringing numerous risks and liabilities that must be meticulously managed. The lack of robust regulatory frameworks can lead to data privacy issues and potential misuse of AI-driven insights. Therefore, it’s crucial for organizations to stay informed and adopt best practices to navigate these challenges effectively.
Natalia: What is Waident doing to protect our customers in this unmonitored space?
Patrick: It is crucial to monitor and guide how AI is used, both internally and externally. As CISO, my latest project was developing AI Guidelines for Waident, which involved significant effort and learning. Although many self-proclaimed experts exist, AI remains a relatively new field that requires continuous learning and adaptation. I am committed to regularly updating these guidelines and keeping up with tool developments to ensure our practices remain effective and secure.
Natalia: Who should be involved in developing and implementing AI regulations?
Patrick: Collaboration is key. Formulating guidelines should involve a cross-functional team that brings diverse perspectives and knowledge of potential AI risks that just one person would not have. Without proper regulations, companies can face data leaks and breaches, affecting both internal and external operations. While no system is perfect, having guidelines enables proactive risk management.
Natalia: Let’s talk about vendors. What are the top trends among our vendors when it comes to AI?
Patrick: Automation. While human involvement remains, delegating routine and repetitive tasks to AI technology is becoming the norm across various industries. However, with the excitement of AI-driven automation comes the challenge of regulation. It is crucial to remain vigilant about the associated risks to our business, employees, and stakeholders.
Another growing trend is AI for cybersecurity. AI-driven tools can detect and respond to threats more quickly and accurately than traditional methods. This is critical as cyber threats become more sophisticated. AI helps in identifying patterns and anomalies that might indicate a breach, enabling a proactive security posture.
Finally, the use of AI for predictive analytics. Vendors are leveraging AI to analyze vast amounts of data and predict future trends and behaviors.
Natalia: How should companies handle vendors promoting AI use in their services?
Patrick: Effective vendor management is crucial to a solid security posture. Although this isn’t a security platform, vendor management and risk assessments can be helpful tools in determining what risks may be associated with using a vendor. Having a Risk Analysis and Risk Assessment Strategy in place is essential for managing these relationships and understanding the associated risk tolerance.
Natalia: Last question! What is your top recommendation regarding the effective and ethical use of AI?
Patrick: While AI is remarkable and continuously evolving for productivity, it is not perfect. The human element must remain an essential part of AI governance and control.
Keeping up with the new developments is crucial, but it is ultimately our responsibility to ensure that this technology is accurate and safe.
Conclusion
AI is rapidly transforming our world, making AI compliance and regulation paramount for navigating the ethical, legal, and reputational challenges. Establishing guidelines on AI use can help mitigate potential data leaks and unforeseen risks.
Remember that your employees are likely already using AI to help increase their productivity without your awareness.By proactively addressing these risks, companies can keep their enterprise running, people productive, and data safe.
You are invited! Explore how Waident is using AI and hear real life business cases!
Dig deeper:
https://www.waident.com/ai-security-concerns-and-4-ways-to-mitigate-them/
