AI Governance

By using AI governance, organizations are able to develop, deploy, and operate AI systems in a responsible and effective manner within a well-defined set of policies, procedures, and standards. It has a group of stakeholders, data scientists, engineers, legal and compliance teams, and business executives. These teams assist in ensuring AI projects are aligned with the goals of the corporation through strong Corporate AI Governance, along with ethical standards and the government's needs.

The AI governance best practices are applicable in ensuring that organizations develop trusted AI systems that are transparent, fair, and dependable. The responsible use of AI can be reached by means of compliance with AI standards and control during the machine learning lifecycle. This will help businesses to maximize the benefits of AI and reduce risks to both themselves and stakeholders.

To do this in greater depth, see our guide: What Is AI Governance?

For example, a retail company adopted governance in its AI-based customer recommendation system. With the implementation of standard AI requirements and consideration of fairness and transparency aspects, the company offered an individualized shopping experience. It resulted in improved customer satisfaction and confidence, and remained completely within the legal requirements of data privacy.