AI risk management refers to the systematic process of identifying, assessing, and mitigating potential risks associated with artificial intelligence technologies to ensure their safe, ethical, and effective deployment. In practice, this involves implementing governance frameworks, conducting regular audits, and establishing protocols to address issues such as data privacy, security vulnerabilities, and algorithmic biases. Given AI's rapid integration across various sectors, organizations must proactively manage these risks to maintain public trust, comply with evolving regulations, and prevent potential financial and reputational damage.