Organisations are increasingly using artificial intelligence (AI) to capitalise on the potential of its transformative power. From virtual assistants, to systems that make recommendations for hiring, to automating decisions for credit, to behavioural analysis to better serve a customer segment (to name only a few), AI is being integrated across the value chain in all business domains. The features of many AI systems provides novel challenges to governance, including issues of bias, discrimination, lack of transparency, and the need to explain and justify decision processes.
AI has drawn concern from regulators. There is now a clear trend toward increased regulation to ensure its use is safe and ethical.
Good AI governance is essential to mitigate against material AI risk.
Here are some practical steps all organisations can take now.
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