AI Risk Assessment: Quantify and Manage AI Risks Before They Materialize
An AI risk assessment evaluates the potential risks associated with deploying or using artificial intelligence systems, including bias, safety, security, privacy, compliance, and operational risks. Petronella Technology Group performs comprehensive AI risk assessments aligned with NIST AI Risk Management Framework (AI 100-1) and EU AI Act requirements, helping organizations deploy AI responsibly while meeting regulatory obligations. Combining 24+ years of cybersecurity expertise with AI engineering knowledge.
CMMC RP-1372. 24+ years in cybersecurity and AI. Free consultation.
Key Takeaways
- 85% of AI projects fail to assess risks before deployment (Gartner 2024), creating liability, compliance, and safety exposures that surface only after launch.
- The EU AI Act imposes fines up to 35M EUR or 7% of global revenue for non-compliant high-risk AI systems. Risk assessment is now a legal requirement, not a best practice.
- NIST AI RMF provides the authoritative framework for AI risk management in the U.S. Petronella maps every assessment to its four core functions: Govern, Map, Measure, Manage.
- AI risk assessment protects against technical, legal, and reputational harm by identifying bias, security vulnerabilities, privacy violations, and safety failures before deployment.
What We Deliver
Risk Identification and Categorization
We identify all potential AI risks across technical (model failure, adversarial attacks), legal (bias, privacy), operational (availability, accuracy), and reputational categories, mapped to your specific use case and industry.
Bias and Fairness Assessment
Systematic testing for demographic bias, disparate impact, and fairness across protected characteristics. We evaluate training data, model outputs, and decision patterns using quantitative fairness metrics.
Security Risk Analysis
Assessment of AI-specific security risks: prompt injection, data poisoning, model extraction, adversarial examples, and supply chain vulnerabilities. Mapped to OWASP LLM Top 10.
Privacy Impact Assessment
Evaluation of data handling practices, consent requirements, data minimization, and cross-border transfer risks. Mapped to HIPAA, CCPA, GDPR, and state privacy laws.
Regulatory Compliance Mapping
Gap analysis against NIST AI RMF, EU AI Act, HIPAA AI provisions, state AI laws, and industry-specific AI regulations. We identify which requirements apply and what documentation is needed.
Risk Mitigation Roadmap
Prioritized remediation plan with specific technical, procedural, and governance recommendations. Each risk includes probability, impact, and recommended controls with implementation guidance.
AI Risk Assessment Approaches Compared
| Approach | Checkbox Compliance | Petronella AI Risk Assessment |
|---|---|---|
| Framework alignment | Single framework | NIST AI RMF + EU AI Act + industry |
| Technical testing | Minimal | Full security + bias + safety testing |
| Risk quantification | Qualitative only | Quantitative with financial impact |
| Remediation | Generic recommendations | Specific, implementable actions |
| Ongoing monitoring | Annual review | Continuous risk monitoring |
| Regulatory readiness | Partial | Complete documentation package |
Led by Craig Petronella
Craig Petronella founded Petronella Technology Group in 2002 with 30+ years of cybersecurity and AI expertise. A CMMC Registered Practitioner (RP-1372), Craig combines security-first thinking with deep AI engineering to deliver solutions that are both powerful and secure.
Frequently Asked Questions
When should we perform an AI risk assessment?
Which regulations require AI risk assessment?
What is the NIST AI Risk Management Framework?
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Do you help implement the risk mitigation recommendations?
Related Services
Assess AI Risks Before They Become Problems
Schedule a free AI risk consultation. We will evaluate your AI portfolio, identify the highest-priority risks, and recommend a structured assessment approach.
Petronella Technology Group, Inc.
5540 Centerview Dr. Suite 200, Raleigh, NC 27606
Phone: 919-348-4912