Organizations today face the challenge of using generative AI without falling prey to its drawbacks. Many companies have employed two basic layers of risk management strategies: policies on how to use the technology, and critical thinking about gen AI’s outputs.
Companies should also adopt a novel third layer of risk management: team-based judgment. There are three aspects:, in which teams should delegate decision-making authority to those with the highest expertise or those closest to the work; and, in which teams should meet regularly to share and reflect on their experiences and on those of others using AI.
Generative AI offers transformative opportunities for learning, work, creativity, and decision-making across organizations. This marks a paradigm shift toward unprecedented human-machine collaboration. However, its integration into the way organizations work is complex. The risks are many, including trust and accuracy issues, hallucinations, and inherited biases from the underlying foundational models.
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