The Chartered Governance Institute UK & Ireland (formerly known as ICSA) has called on boards to develop governance policies and procedures around the use of artificial intelligence, so they can be ready for the risks and opportunities AI brings.
Key recommendations are:
- The governance framework should set out clear roles and responsibilities and be regularly reviewed as the AI landscape evolves.
- AI systems must be transparent and accountable. Internal and external stakeholders need to be able to see how they have been used and factored into company decisions.
- Checks and reviews will be needed to audit and mitigate the risk of bias within AI systems, to ensure fairness and avoid discrimination.
- Data collected and processed by AI should be used in a responsible and ethical manner. Data governance policies and procedures need to be kept up to date to protect the privacy and security of that data.
- Companies will also need access to the high-quality data that is needed to train and deploy AI systems effectively.
For further information, please contact:
Lucy Reeve, Partner, Linklaters