From the course: Understanding and Implementing the NIST AI Risk Management Framework (RMF)
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Understanding and addressing risks, impacts, and harms: Sections 1.1
From the course: Understanding and Implementing the NIST AI Risk Management Framework (RMF)
Understanding and addressing risks, impacts, and harms: Sections 1.1
- An event from my childhood concerning my brother has stayed in my mind when I ponder the meaning of risk. As kids, we pitch and bat to each other in the backyard. When he was 13 and I was 10, he pitched a ball I was unusually fortunate to hit as a line drive. It went straight into the mesh of an ivy-covered fence that bordered our neighbor's yard. Although he initially acted cautiously, trying to retrieve the ball from our side of the fence, he grew impatient and stuck his hand through to successfully push the ball back to himself. One of the two silent but dangerous dogs bit his hand. A retrospective of that story from my brother's perspective tells us what is involved in framing risk. The dogs represent a threat. The fence was a control that offered protection from the dogs. It also contained a vulnerability. Controls can contain vulnerabilities that need patching. We call these countermeasures. My brother's risk appetite allowed him to play in the yard. His risk tolerance allowed…
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