3.92Institutions should assess their Big Data Analytics and AI Applications to determine the materiality and associated risks of each Application.
3.93When conducting a materiality assessment of a Big Data Analytics and AI Application, Institutions should consider:
a.The purpose of the Big Data Analytics and AI Application (i.e. use case) and its role in the Institution’s decision-making process;
b.The criticality and inherent risk profile of the activities (i.e. are they activities that are critical to the business continuity/viability of the Institution and its obligations to Customers); and
c.The likelihood that the activity may be disrupted and the impact of any such disruption.