AI Governance vs. AI Risk Management: What's the Difference?
As Artificial Intelligence becomes part of everyday business operations, organizations are investing more time in developing governance programs and managing AI-related risks. Although these concepts are closely connected, they are not the same. Understanding the difference helps organizations build stronger AI strategies while improving security and compliance. AI Governance is the framework that defines how AI should be managed across the organization. It includes policies, leadership responsibilities, governance committees, documentation, lifecycle management, ethical guidelines, compliance requirements, and ongoing oversight. Its primary objective is to ensure AI systems are used responsibly, transparently, and in alignment with business goals. AI Risk Management focuses on identifying, assessing, mitigating, and monitoring the risks introduced by AI technologies. These risks may include: Prompt injection attacks Data leakage Model bias Privacy concerns Unauthorized AI usage...