Have you ever successfully leveraged a higher risk appetite to explore new or innovative approaches? Can you share how you did this?
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Sr. Director, GenAI Program Management in Healthcare and Biotech3 months ago
Yes, we have leveraged a higher risk appetite in our organization through structured frameworks. Particularly in scenarios involving sensitive health care information or enterprise-wide impacts, our approach is meticulously governed by our internal review boards. This is part of our decision rights criteria embedded within our framework. Such matters escalate to our AI Council, which consists of Chiefs from various enterprise business units overseeing technology and strategy. They are responsible for making the final decisions, understanding the associated risks and opportunity costs based on thorough background and context provided to them. This ensures that our leaders are well-informed and prepared to endorse the risks involved.Chief Technology Officer in Software3 months ago
Indeed, in our experience, challenges that involve a higher risk appetite arise occasionally, presenting both opportunities and significant risks. Like Jason mentioned, it's crucial to evaluate these on a case-by-case basis because data and departments vary greatly, as do the nature of risks and tolerance levels. Even with a robust framework in place, it cannot uniformly apply to all scenarios, especially those that are unique and require special consideration. In our organization, we engage in transparent discussions with various stakeholders, including top management, to navigate these situations. Through open dialogue, we've been able to devise native solutions that are tailored to specific challenges, ensuring that all decisions are made with a clear understanding of the risks and benefits involved.