OPPORTUNITIES FOR INTEGRATING AI INTO THE RISK MANAGEMENT PROCESS IN FAST-GROWING HIGH-TECH STARTUPS
Svilen Simeonov
Pages: 90-99
ABSTRACT: This article examines a contemporary and highly relevant issue: risk management in the development of high-tech startups. The significance of this topic motivates the present paper to explore the opportunities for integrating AI into risk management processes associated with the sustainable development of small high-tech startups. In this study, risk management is understood as the provision of rational and coordinated actions aimed at achieving the startup’s development objectives, while the potential applications of AI are examined in the context of providing a consultative function to management in making decisions related to the identified risks. To reveal the possibilities for AI integration in risk management, the historical development of AI has also been reviewed and analyzed. The potential interactions between AI and the concept of risk management have been examined in the context of currently applicable risk management standards and AI governance frameworks. The applicability of contemporary advances in artificial intelligence has been explored for each stage of the risk management process. Perspectives have been identified regarding the opportunities that the future development of artificial intelligence and risk management concepts may offer, specifically from the standpoint of their combined application to achieve the development objectives of a high-tech startup.
Keywords: artificial intelligence, opportunities, process, risk management
