White Paper
AI Governance in Practice Report 2024
Recent and rapidly advancing breakthroughs in machine learning technology have forever transformed the landscape of AI.
AI systems have become powerful engines capable of autonomous learning across vast swaths of information and generating entirely new data. As a result, society is in the midst of significant disruption with the surge in AI sophistication and the emergence of a new era of technological innovation.
As businesses grapple with a future in which the boundaries of AI only continue to expand, their leaders face the responsibility of managing the various risks and harms of AI, so its benefits can be realized in a safe and responsible manner.
Critically, these benefits are accompanied by serious considerations and concerns about the safety of this technology and the potential for it to disrupt the world and negatively impact individuals when left unchecked. Confusion about how the technology works, the introduction and proliferation of bias in algorithms, dissemination of misinformation, and privacy rights violations represent only a sliver of the potential risks.
The practice of AI governance is designed to tackle these issues. It encompasses the growing combination of principles, laws, policies, processes, standards, frameworks, industry best practices and other tools incorporated across the design, development, deployment and use of AI.