As organizations adopt AI they inherent AI risk. AI risk often manifests itself in AI models that produce erroneous predictions that go undetected and result in serious consequences for the organization and individuals affected by the decisions. In this talk we will discuss root causes for AI models going haywire, and present a rigorous framework for eliminating risk from AI. We will show how this methodology can be used as building blocks for building an AI firewall that can prevent and model AI model failures.