For the third year in a row, MIT Sloan Management Review and Boston Consulting Group (BCG) have assembled an international panel of AI experts that includes academics and practitioners to help us gain insights into how responsible artificial intelligence (RAI) is being implemented in organizations worldwide. Last year, we published a report titled 'Building Robust RAI Programs as Third-Party AI Tools Proliferate.' This year, we continue to examine organizational capacity to address AI-related risks but in a landscape that includes the first comprehensive AI law on the books ' the European Union's AI Act. To kick things off, we asked our experts and one large language model to react to the following provocation: Organizations are sufficiently expanding risk management capabilities to address AI-related risks. A clear majority (62%) of our panelists disagreed or strongly disagreed with the statement, citing the speed of technological development, the ambiguous nature of the risks, and the limits of regulation as obstacles to effective risk management. Below, we share insights from our panelists and draw on our own observations and experience working on RAI initiatives to offer recommendations on how organizations might leverage organizational risk management capabilities to address AI-related risks....

Good morning & happy Thursday! Despite the delay, today's edition is the best one yet. Today we're going to deconstruct The Billion-Dollar (FinTech) Marketer and explore the lessons from Ryan Reynolds (how everything he touches turns gold + a deeper dive into Reynolds-backed Nuvei that just got acquired), JPMorgan that just entered the media business and is starting to show Super App ambitions (why their ad platform is brilliant + a deep dive into JPM & how FinTechs are media companies too), and see how AI is revolutionizing risk management in financial services (looking at ValidMind & why they are exciting). So let's just jump straight into the awesome stuff ' He doesn't just invest money and sit back - he becomes the face and driving force behind the brands he believes in. With his signature wit and charm, Reynolds creates ads that are instant viral sensations, seamlessly injecting himself into the cultural narrative. From capitalizing on the buzz around Taylor Swift's music re-recordings to turning around a hilarious Aviation Gin ad in just 36 hours featuring the actress from Peloton's controversial commercial, Reynolds has mastered the art of "fast-vertising."...

TGIF! Another big week in FinTech is about to end, and we're going to finish it off with three fascinating stories. Today we're looking at AI is supercharging parametric insurance & transforming risk management (what it's all about, why AI in insurance matters & what's next), a company that's decentralizing data for Web3 & beyond (what's the USP & why it could be a game-changer), and US Treasury that's raising alarms on growing cyber threats from AI adoption in finance (a quick overview of the report to see what it's all about). Let's jump straight into the awesome stuff ' Zooming out ' Parametric insurance, a centuries-old concept, is experiencing a renaissance powered by artificial intelligence (AI). As climate change amplifies the frequency and severity of natural disasters, traditional insurance models are struggling to keep pace....

Areas the Commission is focusing on in this investigation of TikTok are linked to the protection of minors, advertising transparency, data access for researchers, and the risk management of addictive design and harmful content, in said in a press release. The DSA is the bloc's online governance and content moderation rulebook which, since Saturday, has applied broadly to ' likely ' thousands of platforms and services. But since last summer, larger platforms, such as TikTok, have faced a set of extra requirements, in areas like algorithmic transparency and systemic risk, and it's those rules the video-sharing platform is now being investigated under. Today's move follows several months of information gathering by the Commission, which enforces the DSA rules for larger platforms ' including requests for information from TikTok in areas including child protection and disinformation risks. Although the EU's concerns over TikTok's approach to content governance and safety predate the DSA coming into force on larger platforms. And TikTok was forced to make some operational tweaks before, back in June 2022, after regional consumer protection authorities banded together to investigate child safety and privacy complaints....