AI has seen meteoric rise in recent months with the advent of generative AI, LLMs and ChatGPT. Understanding the risks associated with this new technology and other areas of AI puts extra emphasis on those obligated to ensure regulated industries are staying within the guardrails. Are AI development efforts considering transparency, bias, exposure of private/sensitive data, leakage of trade secrets and other collateral damage? This presentation will discuss the current state of AI risk and audit with the risks and solutions that accompany it.