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AI leaders, focus on AI governance and lifecycle management: Leverage AI GRC as a service
80% enterprise AI leaders are expecting AI to span across businesses: AI governance, risk & compliance [GRC] and lifecycle management practices are becoming critical
In a recent HFS study, more than 80% of enterprise AI leaders said they were expecting artificial intelligence (AI) and machine language (ML) to span all aspects of their businesses within the next two to five years. Out of this group, 52% are planning to invest in AI and ML across their businesses in the current two-year period. When AI becomes pervasive at that scale of expansion, governance and management of AI solutions’ lifecycles become a key challenge for all enterprise AI leaders who have embarked on this journey. The dangers of these autonomous decision-and-action models losing recency and relevance can be enormous, especially when these solutions are put in production in critical and end-to-end business contexts. The other aspect is the increasing enforcement of standards and regulations of government bodies on the data privacy and fairness of AI use cases; for example, the ISO/ IEC JTC-1, IEEE P7000 series of standards, and FAIR AI guidelines. Standards will ensure transparency, consistency, predictability, and good governance; enforcing, auditing, monitoring, and maintaining them require dedicated efforts.
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