Compliance
Risk classification (of AI applications)
Assessment of AI applications by materiality and risk factors.
Definition
A structured classification process that evaluates each AI application by factors such as financial impact, regulatory relevance, client impact, autonomy, model complexity and data sensitivity to determine proportional controls, testing and supervision required.
Related Terms
Risk assessment
Procedure to identify and mitigate social, ethical and legal risks....
High-Risk (AI)
AI uses that pose substantial potential harm....
risk classification
Categorization of systems as low, high, or excessive risk....
Risk profile
Categorization of foreseeable harms by likelihood and severity....
Risk-based taxonomy
Classification based on use-case-specific risk levels....