AI ASSURANCE PLATFORM FOR CONSUMERS AND ORGANIZATIONS
Impact Assessments
However, a lack of shared understanding of AI risks can impede our ability to comprehensively discuss, research, and react to them."
According to the Massachusetts Institute of Technology (MIT), the AI Risk Repository is a living database of 777 risks extracted from 43 taxonomies, which can be easily accessed, modified, and updated via MIT's online spreadsheets.
"The AI Incident Database now includes over 3,000 real-world instances where AI systems have caused or nearly caused harm.
To our knowledge, this is the first attempt to rigorously curate, analyze, and extract AI risk frameworks into a publicly accessible, comprehensive, extensible, and categorized risk database "
The AI Risk Repository: A Comprehensive Meta-Review, Database, and Taxonomy of Risks From Artificial Intelligence
by MIT (Massachusetts Institute of Technology)
While the risks posed by Artificial Intelligence (AI) concern many stakeholders,
there was no Registry of Impacted Stakeholders --
until now, with Yo-ai.
Financial Impact Assessments
Most government agencies are required to consider the financial impacts to the economy from newly-passed legislation.
If a new law passes, increasing the costs of goods and services, many consumers and businesses will be adversely affected.
Sometimes new regulations go into effect which are intended to protect consumers. These regulations often have financial impacts on businesses and consumers. For example, the California Privacy Protection Agency recently conducted a Statement of Financial Impact on its new regulations mandating annual cybersecurity audits and risk assessments on Automated Decision-Making Technologies, which estimated a 2 billion dollar cost to the California economy.
One critical item, not included in the financial impact statement because it wasn't legally required, was the cost of enforcing the regulations.
Businesses are impacted because they are burdened to pay the largest costs of complying with the new regulations.
Consumers are impacted because businesses may raise prices to cover the additional costs.
Businesses that don't comply with the new regulations enjoy a competitive advantage over businesses that do comply.
Enforcement agencies are impacted because with incentives for businesses to ignore regulations, they have a greater workload of violations to investigate.
Taxpayers are impacted because they are funding ineffective legislation.
Consumers are impacted --
because consumers are taxpayers;
consumers are constituents;
consumers are business owners or business employees;
consumers are investors;
and consumers are customers.
Yo-ai conducts impact assessments on your behalf, and shares it with all stakeholders.
Perhaps you've heard this saying: "When big businesses sneeze, small businesses catch a cold".
With Yo-ai, "When consumers get hurt, policymakers, along with everybody else, will hear you scream."
BENEFITS AND POLICY IMPERATIVES
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OECD ARTIFICIAL INTELLIGENCE PAPERS
November 2024 No. 27
Future AI systems could provide firms and individuals with automated decision assistance and rapidly generated probability estimates in different domains.
Such systems are starting to be embedded in autonomous AI agents in increasingly complex tasks. Through human-machine collaboration, such systems could assist in guiding optimal decisions and acting as research assistants and advisors (Horvitz, 2014[52]; Russell, 2019[53]).
Firms could use generative AI systems for targeted strategy consulting to make sense of numerous simultaneous and complex changes in the global economy. These systems could provide a range of services, in tasks ranging from counselling to personal assistance, making everyday life easier by supporting household decisions, such as financial planning.
The availability of such services could have positive spillover effects across markets, such as reducing consumer search costs and increasing competition among providers. Such increased competition may then spur further productivity and economic growth.
Policymakers could use AI to support political decisions via policy enactment simulations to assess probabilities of accomplishing desired outcomes and inform adaptations and improvement in the review of policies.Assess Your Risk
Yo-ai helps consumers determine their exposure to risk and do something about it.
Yo-ai helps organizations determine if they are exposing their stakeholders to risk and informs them what Registered Stakeholders are doing about it.