Generative AI (GenAI) can help risk management (ERM) teams work better and understand risks more clearly. Gartner identifies five main ways ERM teams can leverage GenAI effectively.
Here are the five ways ERM teams can use GenAI:
1. Communicator: GenAI can help teams draft different types of messages, like emails and reports about risks, and improve internal communications. This helps keep messages clear and saves time.
For example, if a team wants to announce a risk assessment, GenAI can write a professional email that fits the company’s style. Teams can adjust these drafts for different audiences to make sure everyone understands.
2. Notetaker: During meetings about risks, GenAI-powered transcription bots can capture notes in real time. This allows team members to pay closer attention to what is happening and better understand discussions.
3. Researcher: GenAI can help research teams by analyzing large amounts of text. It can examine notes from meetings and interviews to find patterns and improve risk reports, allowing teams to discover important insights more quickly.
4. Librarian: GenAI can make it easier for people to find information by creating a central resource center for ERM. This center allows users to ask questions in simple language to get access to policies and past data without having to ask the ERM teams directly. This feature helps everyone get the information they need quickly.
5. Trainer: GenAI can act as a training assistant that provides interactive lessons for new risk managers. This helps teach them basic risk management practices and terms easily. It is a helpful way for teams to train new members without losing quality in the learning process.
Overall, GenAI can support ERM teams in many ways, helping them work better and manage risks more effectively.
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