Applying COSO's Framework to Implement and Scale AI

Applying ERM principles to AI initiatives can help organizations improve governance of AI, manage risks, and drive performance to maximize achievement of strategic goals. The project, commissioned by COSO and co-authored by Deloitte & Touche LLP, focuses on the need for organizations to design and implement governance, risk management, and oversight strategies and structures to realize the potential of humans collaborating with AI. The COSO ERM framework, coupled with Deloitte's Trustworthy AITM Framework, can provide an overarching and comprehensive approach that aligns risk management with strategy, reduce performance variability, and improve the likelihood of success for AI initiatives.