Artificial Intelligence (AI)

APRA and ASIC have both put board AI literacy gaps in writing this year, APRA's 30 April letter to industry and ASIC's 8 May open letter to AFS licensees. Here is what they found, and the questions every board should be able to answer now.

Third-party AI vendor risk is the widest compliance gap in Australian companies, your vendor's model update is now a regulatory event.

AI is already moving through most organisations. Sometimes it is visible. Sometimes it is hidden inside software, vendor tools, workflows or staff experimentation.

APRA's and ASICs AI governance letters have made one thing clear: named business ownership of AI use cases is now the regulatory minimum. Without it, your organisation is carrying unquantified executive risk.

A practical risk management article using a current source event to test ownership, evidence, controls and maturity.

The recent ABC reporting on VIQ Solutions is a useful case study for any organisation thinking about AI governance, data risk and third-party services. 30...