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THEMIS 5.0 Advancing Risk Management and Trust in AI Systems at EBDVF 2024

Writer's picture: THEMIS 5.0THEMIS 5.0

Updated: Nov 5, 2024


Speakers sitting on stools with a microphone
Speakers at EBDVF Panel on AI Risk

On October 3, 2024, the European Big Data Value Forum (EBDVF) hosted an insightful session at its annual conference entitled “RISK assessment and trust in socio-technical AI-systems”. The panel held between 16:45 to 17:45, was a highlight of this year's conference, bringing together thought leaders from diverse sectors to discuss the evolving challenges surrounding the integration of Artificial Intelligence (AI) into modern socio-technical systems. Among the experts contributing to this discussion was Antonis Ramfos, from ATC, representing the THEMIS 5.0 project.


Antonis explained that as AI continues to revolutionize various industries, it introduces complexities that extend beyond mere technological advancements. The combination of human, organizational, and technological elements in socio-technical systems leads to unique challenges. The integration of AI into these systems requires a nuanced approach to risk management, ensuring not only that systems function optimally but also that they do so in ways that are transparent, ethical, and trustworthy.


Close up of a middle-aged man in a grey jumper speaking into a microphone
Antonis Ramfod presenting THEMIS 5.0

The session addressed the essential question of how to balance innovation in AI with the necessary safeguards that foster trust. Speakers on the panel explored various strategies for risk management in AI, focusing on maintaining transparency, ethical practices, and the social impact of these systems. This discussion is especially crucial in socio-technical AI systems, where the intersection of humans and technology often leads to unintended consequences if not carefully monitored and managed.


As a key contributor to this discussion, Ramfos emphasized the importance of risk management in ensuring the trustworthiness of AI systems. He highlighted the efforts of the THEMIS 5.0 project, which aims to create an AI-driven ecosystem where risk management is integrated into every layer of the development and deployment processes so all end-users can assess for themselves how trustworthy they think a solution impact is. This approach is designed to anticipate potential challenges, mitigate risks early, and foster user confidence in the systems' ability to function safely and ethically. By embedding risk assessment strategies within the AI development process, THEMIS 5.0 seeks to create more resilient, adaptive, and transparent AI systems.


As we move forward into an AI-driven future, the importance of risk management and trust-building in AI systems cannot be overstated. If you’re interested in learning more about THEMIS 5.0 or Antonis Ramfos' insights on risk management in AI, join our newsletter mailing (see home page for sign up), follow us on social media, or reach out and say hello via our contact page.

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