Instruction: Outline a step-by-step approach to identify, evaluate, and mitigate ethical risks during the AI development lifecycle.
Context: This question tests the candidate's capability to integrate ethical risk management into the AI development process, ensuring responsible innovation.
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I would treat ethical risk assessment as a recurring product discipline, not a one-time form. My methodology would start with use-case definition, affected stakeholders, likely harms, severity, reversibility, and whether the project belongs in a low-, medium-, or high-risk category.
After that,...