From the course: AI Governance for Organizations: Applying ISO/IEC 38507:2022

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Risk appetite and management (Clauses 6.7.1-6.7.2)

Risk appetite and management (Clauses 6.7.1-6.7.2)

From the course: AI Governance for Organizations: Applying ISO/IEC 38507:2022

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Risk appetite and management (Clauses 6.7.1-6.7.2)

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- [Instructor] Is driving a vehicle risky? Even if you are a safe driver, driving is risky. When you consider that you may be sharing the road with unsafe or even dangerous drivers, you consider the environment and the road conditions. Therefore, you take a prescribed amount of risk when driving your vehicle. You attempt to minimize your exposure to risk by wearing a seatbelt and driving at the speed limit, keeping your head on a swivel, scanning for unsafe drivers, and constantly monitoring your surroundings. If road conditions are safe and there is clear visibility when you decide to take on the risk of driving, you drive. But you may not drive based upon a certain level of risk appetite that falls outside of all of those conditions. Like if there is black ice or you know that there are major road closures you may decide not to drive as these exceed your risk appetite. If you decide to drive in a situation that exceeds your risk appetite, then you're deviating from your normal…

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