Managing Risk in the Age of AI

The pressure is relentless, to adopt even the most unique offerings of AI, under the symbolic - or real - threat of corporate irrelevancy. Whether presented in the form of the latest influencer YouTube video, an offering to learn AI in 28 days, or the advocacy for the firing of the entire white collar workforce, we are inundated with the threat of being at the precipice of a revolution. 

As the creator of the moniker, “non-apocalyptic, evidence based risk, resilience and preparedness education”, I thought a bit of reflection was in order, to both quell the hysteria, but to highlight the real threats. 

AI is considered to be the final chapter of the fourth Industrial Revolution, not in a doomsday sense, but the evolution of the Internet of Things (IOT) - i.e. connected devices, cloud storage and automated manufacturing. The brain if you will, that will run all the previous elements of the 4th revolution, which in an ideal sense provides for the continuous operation and connectivity of whatever portions of society we wish to “upload” to the cloud / AI management. 

The perceived threat from AI is replacement. While the UAE government has stated that they’ll embrace AI in all public sector operations, but with the clear intention of improving services offered to citizens and guests, not to replace the workforce. However, what we see in most places is a race to automate human activities, to reduce the largest line item on most balance sheets - labour. AI is framed as not a tool to improve, but an opportunity to increase productivity - which is generally globally stalled, to maintain occupation of current market share. The easy button is through layoffs, as AI does not require holidays, sick pay, etc…

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