Artificial intelligence (AI) and machine learning (ML) tools can have many benefits, but risks have emerged as this new frontier of technology begins to take shape.

AI/ML tools can search through millions of bits of data to find new and previously unrecognized patterns. ML tools, in particular, can perform manual processes at blazing speed. Newly public AI-powered chatbots, like OpenAI’s ChatGPT, can write coherent blog posts, marketing copy, or new lines of computer code in seconds with a simple prompt.

But there are downsides to every new technology, and AI and ML are no exception. Understanding the unique risks posed by AI/ML tools—and planning for how to mitigate them—is (or soon will be) part of the job description for any serious compliance officer, experts discussed as part of a session at Compliance Week’s virtual Cyber Risk & Data Privacy Summit.