AI Transparency & Data Use Statement
Last Updated: February 2025
Smart Risk Sheets integrates optional AI features that help risk owners perform deeper analysis and communicate risk more effectively. This statement clarifies what AI does, what data is used, and where professional judgment is required.
What AI Does
Smart Risk Sheets uses OpenAI to:
✅ Generate analytical insights for each risk. ✅ Convert raw assessment values into meaningful executive context. ✅ Suggest actions aligned with severity and control strength
AI enhances expert reasoning — it does not replace governance responsibility.
What Data is Sent to AI
Only the fields required to generate a concise insight are sent:
• Risk Category • Risk Description • Primary Impact • Treatment Strategy • Control Effectiveness • Residual Risk • Mitigation Plan Summary • Notes
Some metadata such as risk ID may be included for clarity. We do not include documents, names, financial data, or sensitive regulated content unless users manually enter it in text fields.
How Data is Protected During AI Calls
• The OPENAI_API_KEY is supplied by the customer and stored only inside the script properties of the account owner.
• Smart Risk Sheets has no access to user API keys or insights returned.the script properties of the account owner.
• Requests are encrypted in transit via HTTPS and not stored by Smart Risk Sheets.
OpenAI may store logs temporarily for safety unless users switch to zero-data-retention enterprise plans.
AI Limitations (Transparency Requirement)
AI insights may:
⚠️ Rely on incomplete or outdated context. ⚠️ Provide overly general reasoningt. ⚠️ Miss organization-specific controls and strategies.
The user is responsible for:
• Reviewing insights before approving actions.
• Ensuring compliance with regulatory requirements.
• Confirming accuracy of input data.
AI suggestions are non-binding recommendations.
Regulatory & Ethical Alignment
This solution aligns to key trust principles from:
✅ ISO 31000 (Risk) ✅ COSO ERM
Focus areas: ✔ Transparency ✔ Human oversight ✔ Safety and robustness ✔ Explainability (in plain business language)
User Control
Users can:
✅ Disable AI entirely. ✅ Regenerate insights anytime. ✅ Remove generated text. ✅ Rotate or delete API keys. ✅ Replace AI-assisted fields with manual commentary.
User autonomy remains paramount.
Final Commitment
Smart Risk Sheets commits to:
✔ Keeping users in charge of decisions. ✔ Maintaining transparency in data use. ✔ Reducing operational workload safely. ✔ Delivering responsible and reliable AI assistance.
For compliance support, contact: 📩 info@smartrisksheets.com