AI Governance Can Help Companies Across Sectors Reduce Cybersecurity Risks

Canada's securities regulators recently issued updated cybersecurity guidance after conducting an extensive review of some financial firms' practices involving the use of AI models.

As reported in a recent article in the Globe and Mail, the Canadian Securities Administrators, a national organization that includes provincial and territorial securities regulators, identified a number of areas where practices should be strengthened to protect against cybersecurity risks posed by new AI models.

Alarmingly, the regulators found that most firms had written policies and procedures that could be improved, while some firms had no written policies at all. While the review included firms registered as investment fund managers and the like, the findings and guidance are applicable to companies across industries to protect their innovation.