Energy Portal
Risk refers to the possibility of an undesirable outcome or event that could result in harm, loss, or adverse effects. It encompasses uncertainty regarding the consequences of actions or decisions, particularly in situations where the potential for negative results exists. Risk is often calculated based on the likelihood of an event occurring and the severity of its potential impact. In various contexts, such as finance, healthcare, and project management, understanding and managing risk is essential for making informed decisions, planning, and implementing strategies to mitigate potential downsides. Risk can be categorized into different types, such as systematic and unsystematic risk in finance, or operational and reputational risk in business. Ultimately, it involves assessing the balance between potential benefits and potential harms.
The Department of Homeland Security (DHS) is under scrutiny as the Government Accountability Office (GAO) raises alarms about inadequate risk assessments regarding artificial intelligence. The GAO emphasizes the urgent need…