Navigating the Risks of ChatGPT

Have you noticed a pattern here – the "yes, but" pattern to be exact? There's no doubt that there are two faces of ChatGPT, and they certainly play contradictory roles. Credit unions need to think about the entire spectrum of risk – from the legal and reputational risks if member data is inadvertently leaked, to the operational risks if networks or servers are compromised by ChatGPT cyberattacks. However, there are ways to navigate the risks of ChatGPT and maybe even make it a manageable venture for your institution.

Take no shortcuts when it comes to due diligence and spend ample time vetting your options for the use, management and security of ChatGPT.
Create stringent policies and procedures for handling ChatGPT. These should address which employees have access to controls over ChatGPT, what systems ChatGPT has access to, how to monitor the data coming in and going out to members and more.
Consider the specific role of ChatGPT within your organization and how you can use the human qualities of your staff to balance the mechanization of AI. This will allow you to have more security-focused eyes on the ChatGPT technology while also maintaining the credit union movement's personalized approach to member service.

With ChatGPT technology come lots of advantages, not the least of which include more resources for assisting your members and new logic to help work through various aspects of your operations. Those benefits have their place, just like the Amazon Alexas and Apple Siris we've come to love and maybe even can't live without. But with those advantages, we see just as many cybersecurity and risk concerns, such as data exposure, ethical dilemmas and the number of resources needed to safeguard this readily available tool from cyber criminals.

Instant Insights /

ChatGPT & Cybersecurity: Is It a Double-Edged Sword?

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