How does third-party risk management address long-term risks posed by AI data training platforms, particularly around privacy, ethics, and compliance challenges?
How does TPRM address long-term risks for third-party AI data training platforms?
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Third-party risk management addresses long-term risks posed by AI data training platforms related to privacy, ethics, and compliance by implementing various strategies. These strategies may include thorough vendor vetting processes to ensure third-party compliance with regulations such as GDPR, implementing contractual agreements to outline data handling practices, conducting regular audits to monitor third-party actions, and establishing clear communication channels for reporting any breaches or concerns. Additionally, continuous monitoring and assessment of third-party activities can help in identifying and mitigating potential risks associated with AI data training platforms over the long term.