What is AI risk assessment?
An AI risk assessment is a structured review that identifies how a specific AI system could cause harm, estimates the likelihood and severity, evaluates whether the risk is acceptable and records the measures to reduce it. It looks at people affected, data, context and foreseeable misuse as well as the model.
Assessments are repeated when the system, its data or its use changes. They feed risk classification, control selection and approval decisions. Specific forms include the DPIA, the fundamental rights impact assessment and algorithmic impact assessments.
Source: NIST AI Risk Management Framework. Last reviewed . General information, not legal advice.