Key points:
- With all the buzz around ChatGPT, leaders shouldn’t forget some hidden–and some more obvious–risks
- Incorrect information, bias, and copyright risks are just a few to be aware of when using ChatGPT
- See related article: ChatGPT: The shakeup education was waiting for
Legal and compliance leaders should address their organization’s exposure to six specific ChatGPT risks, and what guardrails to establish to ensure responsible enterprise use of generative AI tools, according to Gartner, Inc.
“The output generated by ChatGPT and other large language model (LLM) tools are prone to several risks,” said Ron Friedmann, senior director analyst in in the Gartner Legal & Compliance Practice. “Legal and compliance leaders should assess if these issues present a material risk to their enterprise and what controls are needed, both within the enterprise and its extended enterprise of third and nth parties. Failure to do so could expose enterprises to legal, reputational and financial consequences.”
The six ChatGPT risks that legal and compliance leaders should evaluate include:
Risk 1: Fabricated and Inaccurate Answers
Perhaps the most common issue with ChatGPT and other LLM tools is a tendency to provide incorrect – although superficially plausible – information.
“ChatGPT is also prone to ‘hallucinations,’ including fabricated answers that are wrong, and nonexistent legal or scientific citations,” said Friedmann. “Legal and compliance leaders should issue guidance that requires employees to review any output generated by ChatGPT for accuracy, appropriateness and actual usefulness before being accepted.”
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