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Introduction to AI Risk and Impact

Module 1: What risk assessment and impact evaluation mean

8.3 AI Risk Assessment

8.4 AI System Impact Assessment

The SME-Friendly Five-Step Method

Module 2: A simple SME-friendly assessment method

Step 1: Define the AI use case

Step 2: Identify the risks

Evaluating Impacts and Treating Risks

Step 3: Evaluate the impacts

Step 4: Decide treatment actions

8.4 AI Risk Treatment and Control Measures

Governance and Continuous Monitoring

Module 3: Embedding assessment into SME governance

5.3 Roles, Responsibilities and Authorities

Step 5: Monitor and review

Knowledge Checks

Knowledge Check: What risk assessment and impact evaluation mean

Knowledge Check: A simple SME-friendly assessment method

Knowledge Check: Identify the risks

Knowledge Check: Decide treatment actions

Knowledge Check: Embedding assessment into SME governance

Course Feedback

End of Course Survey

Welcome to 'Practical AI Risk and Impact Assessment for SMEs. ' As artificial intelligence rapidly transforms the business landscape, small and medium-sized enterprises (SMEs) face a unique challenge: harnessing the power of AI while effectively managing its inherent risks.

Welcome to 'Practical AI Risk and Impact Assessment for SMEs.' As artificial intelligence rapidly transforms the business landscape, small and medium-sized enterprises (SMEs) face a unique challenge: harnessing the power of AI while effectively managing its inherent risks. This comprehensive course is designed specifically for SME leaders, managers, and compliance officers who need to implement AI safely without the luxury of massive enterprise budgets or specialized tech teams. Throughout this course, you will demystify the core concepts of AI risk management as outlined in ISO/IEC 42001 and ISO/IEC 23894. We translate complex regulatory and technical jargon into simple, actionable business language. You will learn a highly practical, SME-friendly five-step method to assess AI risks—such as algorithmic bias, unreliable outputs, and data vulnerabilities—and evaluate their potential impacts on your customers, operations, and brand reputation. Beyond just identifying risks, this course empowers you to take decisive action. You will discover how to apply proportionate control measures, manage third-party AI vendors, and seamlessly embed AI governance into your existing day-to-day operations. By the end of this journey, you will have the confidence and tools to deploy AI solutions responsibly, ensuring continuous monitoring and compliance while driving innovation in your business.

ISO/IEC 42001 - AI Risk Assessment and Impact Evaluation

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            <p>Navigating the rapid adoption of artificial intelligence in a small or medium-sized enterprise can feel like trying to steer a ship while you are still building it. As a quality, compliance, or risk manager, you are likely seeing AI tools pop up across your organization's daily operations. While these tools offer incredible efficiency, they also introduce new vulnerabilities—from algorithmic bias and unreliable outputs to tricky supplier dependencies. You already understand the value of ISO-style governance, but applying enterprise-scale AI frameworks to an SME environment often leads to frustrating bottlenecks. You need a practical way to evaluate and manage these new risks without requiring a massive budget or a dedicated team of data scientists.</p>

<p>This course is designed specifically to bridge that gap by providing a straightforward, repeatable approach to AI risk and impact assessment. We will break down the core expectations of ISO/IEC 42001 and ISO/IEC 23894 into a practical, five-step method tailored for smaller organizations. You will learn how to clearly define your AI use cases, identify hidden risks, and evaluate their potential impact on your business and your customers. From there, we will explore how to choose proportionate control measures and seamlessly embed continuous monitoring into your existing governance processes. By the end of this journey, you will have the confidence and the tools to safely pilot and deploy AI solutions, ensuring your organization stays innovative, compliant, and secure.</p>
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