A financial services firm received a regulatory fine after a vendor switched its chatbot's AI model without due diligence, resulting in unethical investment advice to the firm's clients. Which of…

The correct answer is D. Change management. AAISM requires formal change management for AI systems, including vendor-initiated changes: pre-approval, documented impact assessment (ethics/compliance/performance), regression testing, sign-off by accountable owners, and traceable release records.

AI Security Strategy and Governance

Question

A financial services firm received a regulatory fine after a vendor switched its chatbot's AI model without due diligence, resulting in unethical investment advice to the firm's clients. Which of the following controls should be implemented by the firm to BEST prevent recurrence of this scenario?

Options

AMaster services agreement
BShared responsibility model
CData minimization
DChange management

How the community answered

(41 responses)

A
10% (4)
B
2% (1)
C
2% (1)
D
85% (35)

Explanation

AAISM requires formal change management for AI systems, including vendor-initiated changes: pre-approval, documented impact assessment (ethics/compliance/performance), regression testing, sign-off by accountable owners, and traceable release records.

Topics

#Change Management#Vendor Risk Management#AI Governance#Regulatory Compliance

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