Aigoras - we can do better: Human and AI Risk Control / by Kevin Lancashire

Balancing human judgment and AI precision is crucial for effective risk control in managing AI systems.

  1. Human Risk Control:

  • Strengths:

  • Judgment and Ethics: Humans bring ethical considerations, intuition, and contextual understanding to risk management.

  • Adaptability: They can adjust strategies based on real-time information and unforeseen events.

  • Legal Compliance: Humans ensure adherence to legal frameworks and human rights.

  • Limitations:

  • Subjectivity: Human judgment can be biased or inconsistent.

  • Resource-Intensive: Requires significant time and effort.

  • Error-Prone: Mistakes can occur due to fatigue or oversight.

    2. AI Risk Control:

  • Strengths:

    • Speed and Efficiency: AI processes vast amounts of data quickly.

    • Consistency: AI follows predefined rules consistently.

    • Pattern Recognition: It excels at detecting anomalies.

  • Limitations:

    • Lack of Contextual Understanding: AI lacks human intuition and context.

    • Black-Box Models: Some AI systems are hard to interpret.

    • Data Bias: AI can perpetuate biases present in training data.

  • Balancing Both:

Combining human judgment with AI’s efficiency can enhance risk control.

Effective risk management involves collaboration between humans and AI, leveraging their respective strengths.