By Saba Zahid, Columbia Part-Time Lecturer; Managing Director and Head of Operational Risk, Morgan Stanley Wealth Management
Artificial Intelligence (AI) is rapidly changing how risk programs operate. From monitoring and testing to reporting and analysis, the promise of automation and intelligence is real, and in many ways, long overdue. Across the industry, leaders are asking how quickly risk functions can modernize and what AI can replace, accelerate, or reimagine.
But in the midst of this transformation, I often come back to a simple metaphor. The business does not pause for innovation. The plane is already in the air, and risk leaders are being asked to change the engine while keeping it flying safely and in the right direction.
Keeping the Plane Flying: Business-as-Usual Under Pressure
Business-as-usual (BAU) risk programs are under real pressure. Many are built on manual processes, legacy systems, and teams stretched thin by growing regulatory and operational demands. AI offers an opportunity to improve efficiency, identify patterns faster, and reduce friction in day-to-day risk management. It is no surprise that boards and senior leadership are eager to move quickly.
The challenge is that speed itself introduces risk.
In my experience, the most significant failures rarely occur because organizations adopt new technology too slowly. They happen when transformation outpaces governance. When controls are automated without fully understanding dependencies. When accountability becomes unclear. When human judgment is quietly replaced by unchecked outputs.
Early in my career, I learned that strong risk management is not about perfection. It is about consistency. BAU risk programs exist to ensure stability, continuity, and trust. They are the systems that work quietly every day, often unnoticed, until something breaks.
AI does not change that responsibility. It heightens it.
Keeping the plane flying means acknowledging that BAU does not stop during transformation. Core controls still need to operate. Escalation paths still matter. Ownership does not disappear because a process becomes automated. In fact, clarity of accountability becomes even more important during periods of change.
The most effective leaders I have worked with approach AI adoption with discipline. They pilot before scaling. They run processes in parallel before retiring legacy controls. They invest time in training people, not just deploying tools. And they are explicit about where human judgment remains essential.
At Columbia, this is something I emphasize with my ERM students. AI is a powerful tool, but it is not a strategy. Risk management is ultimately about judgment, responsibility, and trust. Those elements cannot be automated away.
Our Role as Risk Leaders
AI will continue to reshape BAU risk programs, and it should. The opportunity to improve how we manage risk is real and important. But transformation must be thoughtful, not reactive.
As risk leaders, our role is to balance progress with protection. To modernize without destabilizing. To innovate while maintaining control. The plane still has to fly every day through changing conditions and uncertain skies.
When we get that balance right, we do more than adopt new technology. We strengthen the foundation that allows organizations, and the people within them, to operate with confidence and resilience.
Views and opinions expressed here are those of the authors, and do not necessarily reflect the official position of Columbia School of Professional Studies or Columbia University.
About the Program
The Master of Science in Enterprise Risk Management (ERM) program at Columbia University prepares graduates to inform better risk-reward decisions by providing a complete, robust, and integrated picture of both upside and downside volatility across an entire enterprise. For both the full-time and part-time options, students may take all their courses on Columbia’s New York City campus or choose the synchronous online class experience.
The application deadline for the M.S. in Enterprise Risk Management program is May 1. Learn more about the program here.
