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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: collective judgment, in which teams engage in discussions to evaluate output and ensure accuracy; domain judgment, in which teams should delegate decision-making authority to those with the highest expertise or those closest to the work; and reflective judgment, in which teams should meet regularly to share and reflect on their experiences and on those of others using AI. When organizations develop team-based judgment at scale, they will be better equipped to adapt to the fast-evolving AI landscape and face unknown future risks.
Generative AI (gen 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. Many companies today face the conundrum of harnessing the power of gen AI without falling prey to its potential drawbacks.
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