AI Risk Management
Foster innovation minimising the risks
GET STARTED WITH A FREE CONSULTATIONArtificial Intelligence
Get Experienced Guidance to Navigate AI Laws and Regulations
Our AI Risk Management service is a comprehensive offering designed to systematically identify, evaluate and address the risks associated with the development and use of AI systems.
WHAT CAN WE DO FOR YOUR ORGANIZATION
At WLC, we offer a full range of AI-related services:
4 Steps to
ProtectYour Organisation
Speak To One of Our Experienced AI Consultants to Evaluate Your AI Risk Posture
We conduct workshops to identify the AI use cases within the defined scope. During these sessions, we collaborate closely with your organisation to align on the specific risk criteria and establish a mutually agreed-upon risk tolerance level. We also align on the specific risk management framework, such as NIST AI RMF or ISO 23894:2023.
Identify AI Risks
Considering your organisation’s AI risk criteria and tolerance, we conduct a thorough assessment of the AI systems under the scope, whether in development or already deployed, to identify potential risks. In this step, we analyse aspects such as data sources, model accuracy, security vulnerabilities, transparency, and ethical considerations.
Evaluate AI Risks
Our experts evaluate the identified risks in terms of their potential impact and likelihood. This involves assigning risk scores and prioritizing them based on their significance. We assess your AI systems' compliance with relevant regulations and industry standards, as well as the ethical, and reputational implications.
Reduce the Risks to Acceptable Levels
Based on the risk assessment, we develop tailored mitigation strategies to address identified risks. Some of the mitigation strategies include applying safeguards, improving notices, training your employees, implementing human oversight, and establishing contingency plans to minimise the impact of potential risks. We also provide detailed documentation of the risk management process, including a comprehensive report outlining the identified risks, their assessment, mitigation strategies, and recommendations for ongoing risk monitoring.
Why
Work with Us
Improved Compliance
We assist you in achieving your target data protection ambition level. We inform and advise on data protection duties, conduct training, draft policies, develop privacy programmes, and identify privacy gaps within your organisation. We also monitor compliance with data protection obligations and internal processes.
Cross-Industry Knowledge Of Data Protection
Our data protection experts have experience in different sectors, including telco, pharma, banking, ad tech, IT services, and more. With a team of 20 consultants who are experts in data processing with cutting-edge technologies such as artificial intelligence. Our data protection experts know how to balance global and local approaches, including issues such as intragroup data sharing or global data breach processes.
Immediate Access to Qualified Experts
You will get immediate access to internationally qualified experts (PhD, CIPP/E, CIPM) which means you will comply with all the requirements for professional qualifications required in data protection legislation. Our resources have supported multi-national companies in the implementation of their global privacy programmes.
Cross-Discipline Backgrounds
Our data protection experts work with data scientists, engineers, system architects, and security professionals. You can trust our knowledgeable and experienced team with extensive experience supporting our clients in performing data protection impact assessments (DPIAs) for advanced and high-risk data processing activities.
ABOUT US
World-Class Multidisciplinary AI Consultants
- In-depth understanding of essential business processes both internally and in collaboration with external stakeholders
- Strategic advice to senior management and board members regarding AI-related services
- Consultants who can align AI risks with their corresponding business, financial, and reputational impacts
- Customised AI program, tailored to your organisation’s risk tolerance.
MEET OUR TEAM
Our team of AI consultants has a proven track record of supporting organisations to build their AI programmes tailored to specific business needs.
Monika is a lawyer with experience gained in law firms and as in-house counsel, advising on privacy, information security, IP/IT and business law. She specializes in drafting and reviewing data protection and information security procedures, data processing agreements, conducting DPIAs, and incident management. As an experienced practitioner and a graduate of certified DPO courses, she has extensive knowledge of privacy issues in new technologies, particularly in software development using distributed ledger and generative AI (LLM) technologies in organizations. Monika focuses on providing business-friendly solutions and is passionate about new technologies and language learning.
Shemy is an attorney-at-law (non-practicing) and Certified Privacy Professional (CIPP/E) with +7 years of professional experience in the field of new technologies, data protection & privacy, and e-commerce. He is a skillful, solution-oriented advisor and a technology enthusiast. His track record includes advising entities, i.e., deploying AI tools, IoT solutions, or SaaS/PaaS platforms reinforced by cloud computing. He also regularly supports companies in privacy implementations, audits and data processing & sharing contracts negotiations. In 2023, he was deemed a recommended lawyer in the IT & Telecommunications sector in an international ranking for top lawyers and law firms – Legal500.
Arina is a legal consultant with an academic background, holding a PhD focused on data protection. She has several years of practice specialising in managing EU data protection compliance projects both for start-ups and established group companies. She also completed a traineeship in the Secretariat of the European Data Protection Board.
OUR TEAM IS CERTIFIED TO THE HIGHEST STANDARDS
OUR
Industry Experience
Telecommunications
Pharma
Cloud Computing
AdTech
Tourism & Hospitality
Insurance
Hardware Manufacturing
Banking
Software Development
Artificial Intelligence
AI Risk Management FAQS
What is AI Risk Management?
AI Risk Management is a systematic process to identify, evaluate, and address risks associated with the development and use of AI systems within an organisation.
Why is AI Risk Management important?
AI Risk Management helps organisations unlock the full potential of AI while safeguarding against misuse, ethical concerns, legal and regulatory risks, and reputational damage. It ensures ethical, accountable, and responsible use of AI systems.
What services does WLC offer for AI Risk Management?
We offer a comprehensive range of services, including mapping AI systems, establishing risk criteria and tolerance, identifying and addressing potential threats, developing compliant and responsible AI solutions, ensuring ethical and transparent use of AI, mitigating legal and regulatory risks, and providing guidance on AI laws and regulations.
What is the process for AI Risk Management at WLC?
The process involves four steps:
- Evaluating your AI risk posture through workshops and aligning on risk criteria and tolerance;
- Identifying potential AI risks;
- Evaluating identified risks in terms of impact and likelihood;
- Developing tailored mitigation strategies to reduce risks to acceptable levels.
How does WLC identify AI risks?
We conduct thorough assessments of AI systems, considering factors such as data sources, model accuracy, security vulnerabilities, transparency, and ethical considerations.
How does WLC evaluate AI risks?
Our experts evaluate identified risks by assigning risk scores, prioritizing them based on significance, and assessing compliance with relevant regulations, industry standards, and ethical and reputational implications.
What mitigation strategies does WLC recommend?
Mitigation strategies may include applying safeguards, improving notices, training employees, implementing human oversight, establishing contingency plans, and providing detailed documentation and recommendations for ongoing risk monitoring.
Does WLC offer support beyond risk management?
Yes, we offer a full range of AI-related services, including measuring and monitoring compliance, supporting AI governance framework development, performing AI impact assessments, upskilling employees, supporting the AI adoption journey, providing operational support and guidance on AI, and offering strategic advice to senior leadership.