Risk in Focus 2023 – Board Summary

Artificial intelligence (AI) has and will continue to transform business strategies, solutions, and operations. AI-related risks need to be top of mind and a key priority for organizations to adopt and scale AI applications and to fully realize the potential of AI. Applying enterprise risk management (ERM) principles to AI initiatives can help organizations provide integrated governance of AI, manage risks, and drive performance to maximize achievement of strategic goals.

The report captures the breadth and depth of internal auditing and the nuances of industries, sectors, and regions with feedback from more than 3,600 auditors in 159 locations.

The first in a three-part series, this report serves as a how-to guide to assist internal auditors in assessing their current level of preparedness regarding privacy and data protection issues, particularly as their approaches relate to the present state of the profession overall.