Companies involved in building and deploying artificial intelligence (AI) technologies are using diverse tools to gain insights and make decisions that exceed human capabilities. While, it is a large opportunity for businesses, the algorithms used can be destructive if they produce results that are biased or incorrect.
In this article at TechTarget, Mary K. Pratt explains that about 65 percent of CIOs will be tasked to modernize governance policies to reflect the risks and opportunities posed by AI technologies by 2022.
AI Delivering Valid Outcomes
The organizations adopting AI technologies need to concurrently develop strong digital programs to govern them as well. Ideally, an AI governance program must address how AI should use the data, how to validate its algorithms and results, and how and when to take corrective actions.
As per Ritu Jyoti, program vice president of artificial intelligence strategies with IDC’s software market research and advisory practice, “Organizations need this due-diligence, so the algorithms do not have any unintended consequences.”
He believes, about 90 percent of organizations do not even have an AI strategy, but an AI governance program. This is expected to change.
Avoid the Hype in AI
Instead of creating an unnecessary hype over AI as an IT issue or assigning complete ownership of AI governance to the CIOs, the matter should be driven by the business needs of the organization.
Even many CIOs suggest that executives should not develop AI governance as a separate entity. AI has unique issues that need to be addressed separately. Instead of covering everything behind the AI curtain in their governance program to build trust, the organizations must create accountability, authority, and approval through audits.
To form an effective AI governance program, organizations must examine the algorithms used within the firm and considers its impact on decisions and outcomes. The organizations need to establish these algorithm checks for homegrown AI and the AI built into the products it buys from vendors.
Click on the following link to read the original article: https://searchcio.techtarget.com/feature/The-urgent-need-for-enterprise-AI-governance-and-where-to-start