Blogs

AI risk dashboard

Navigating the risk landscape of AI: Lessons from the UK Government AI Playbook

Artificial intelligence (AI) is revolutionising the public sector, offering innovative solutions while introducing complex risks. The UK Government’s AI Playbook provides a structured approach to AI risk management, emphasising governance, security, ethics, and human oversight. Strong AI governance frameworks, cybersecurity protocols, ethical considerations, and workforce adaptation strategies are essential for responsible AI deployment. Organisations must balance innovation with risk mitigation by ensuring transparency, fairness, and accountability in AI systems. This article explores key lessons from the AI Playbook, offering actionable insights for risk professionals across sectors.

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A person confidently walking a tightrope, balancing risk and reward

Rethinking Risk: Why it gets a bad rap (and how to embrace it)

This article challenges the commonly held negative perception of risk, arguing that it is not inherently detrimental but rather a fundamental aspect of progress, innovation and personal growth. It explores the psychological and societal factors contributing to risk aversion, including the human desire for certainty and the influence of language and narratives. The article emphasises the importance of both risk literacy (understanding risk) and risk oracy (communicating about risk) in navigating uncertainty. It examines the role of expert advice (‘oracles’) while advocating for the development of individual risk assessment skills. The core argument promotes a balanced approach to risk management, shifting the focus from solely mitigating risk to strategically embracing calculated risks and maximising opportunities. The article highlights the benefits of fostering a culture that encourages experimentation, learns from failures and celebrates resilience. Ultimately, it encourages readers to reframe their relationship with risk, viewing it not as a threat but as a potential catalyst for positive change and a pathway to a more fulfilling future.

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The power of risk aggregation.

This article explores the concept of risk aggregation, a powerful tool for businesses to identify, consolidate, and manage common risks across their operations. By aggregating risks, organisations can gain a clearer understanding of their overall exposure, develop more effective mitigation strategies, and allocate resources efficiently. The article outlines practical steps for implementing risk aggregation and discusses the importance of considering interconnected risks.

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Why every organisation needs a formal risk escalation process.

This article explores the importance of a risk escalation process for any organisation. It outlines the steps involved in identifying, assessing, and managing risks, emphasising the benefits of early detection, clear responsibilities, and efficient resource allocation. It also discusses the de-escalation process and provides real-world examples to illustrate how effective risk management can enhance organisational success

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