AI is anticipated to be one of the main economic drivers across all industry sectors in the next decade. As adoption continues, legislators/regulators are establishing multiple, sometimes conflicting, often ill-conceived or technically questionable regulations and operating requirements on businesses and organizations. These rules apply not only to those who design, develop, and train AI, but also to those who use AI.
Boards of Directors are ultimately responsible for ensuring that their organizations comply with these new rules or, at the very least, have reasonable and sufficient governance frameworks that include technology, AI risk management, AI internal controls(development, deployment, maintenance, monitoring and use) and AI oversight. Boards must ensure compliance does not become so onerous that it threatens innovation but instead serves as a recognized competitive advantage within their stakeholder communities.
Bizcom’s AI-GRC Board seminars are offered in 1-to 3-hour programs, which can be customized to relevant jurisdictions and industry groups. Every seminar introduces AI-GRC in the context of “what’s different” and briefly explains key concepts underlying AI and AI risk. Bizcom's seminars describe the main components of a robust AI governance framework and present an overview of the primary issues involved in designing, validating, documenting, implementing and monitoring legally compliant and business-serviceable AI-GRC.
How boards will govern AI is a critical question many organizations face today.
AI is challenging boards of Directors in many ways—as a revenue growth opportunity, a technology to be leveraged in manufacturing and operations, a precise and fantastic marketing and customer relations tool, and even a creativity multiplier! However, none of these opportunities can be explored, and none of the hoped-for benefits can be realized without ensuring that AI Governance, Risk, and Compliance are firmly and effectively deployed.
