Given the real and significant potential benefits of AI, companies have to be careful in the rush to implement AI technology. Starting with a clear use case, companies have to weigh the potential benefits of AI technology and identify the legal and compliance risks. An AI compliance program is a critical element of a corporate governance structure. Building on this specific policy, companies need to...
The new world of AI presents significant benefits and risks that need to be addressed in an overall governance framework. Luckily, the principles to apply here will surprise no one — governance, compliance, legal and risk professionals will quickly adapt well-known principles to the new frontier of AI. Starting at the Board level, AI oversight responsibility should be assigned a dedicated board committee, such as...
The new compliance cottage industry surrounds artificial intelligence. We are at such an early stage of AI development — companies are still figuring out how they can employ the technology. Some industries, such as financial institutions, however, have been using AI for fraud detection and other issues. I expect financial institutions will set the tone for much of compliance practices around AI. There is no...
