Thanks, Todor, for posting the financial industry's concentration risk to AI, huge in venture but not just in venture.
I'm finding is that it is a wildly hard problem to try to diigent about risks/opportunities for AI in venture where the market participants are collectively investing in a herd. It is a willing systemic risk. And people are very open to saying that there will be a lot of financial failures, but a lot of social good will come of the collective investment.
This is a problem for my day job because I have an unusual mandate that requires the team to be use case specific in selection. I can't invest into an index of AI (best approximation is to fund of funds, or listed tech basket). Needing to be use case specific begets the need to try to preempt questions about AI risks/responsibilities, meaning shaping AI due diligence/monitoring questions. I'm looking at guidance from places like the responsible AI due diligence tool from Reframe Venture and the general direction of travel of ISSB/IFRS S1 and S2, but it's tough to ask consistent questions.
In case any one else in the community is similarly challenged, I'd love to hear your thoughts and what you are doing!
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Kara K.W. Byun
Head of Fintech
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