AI governance regulation will shape how organizations leverage the technology in the long term. We spoke to Var Shankar From Enzai to find out what the future of AI looks like.
Artificial intelligence (AI) governance will be led by regulation. Whether complying with regulators or simply looking for a best-practice model to leverage, organizations will be looking to the government for a glimpse of the future of AI.
To prepare your organization for AI success, you need to know how global regulation will develop in the future and create an AI governance framework to adhere to it. That's why you need to get expert guidance on what the future looks like for AI regulation.
To find out, we spoke to AI experts across the world to discover the truth within the AI buzz. In the next part of this series, we spoke to Var Shankar from Enzai.
To find out more about what the market is saying about artificial intelligence (AI) governance, download our AI survey results:
REPORT: SAP LeanIX AI Survey Results 2024
Meet Var Shankar
Var Shankar has spent his career striving to bridge the gap between artificial intelligence (AI) implementation, AI policy, and the law. He has worked as executive director at the Responsible AI Institute, and co-developer of Kaggle's AI Ethics course.
Now, as Chief AI and Privacy Officer at Enzai, Var helps companies create and scale their AI programs. This support includes Enzai's governance, risk, and compliance platform.
We couldn't think of a better person to tell us what the future of AI regulation will be. To start our interview with Var, we wanted to find out what the current state of AI regulation is, and how it's likely to evolve.
How Are Regulators Governing AI?
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We're seeing different regulatory frameworks for artificial intelligence (AI) emerging around the world. The EU's AI Act is a robust, horizontal regulation with a broad definition of 'AI system'.
"In the US, states like Colorado are leading the way with AI-specific laws, though these tend to be more tightly focused on issues like discrimination and generally less demanding than the EU AI Act. China's approach features a strong role for government, and a focus on content moderation and stable social outcomes.
"Though the foundations of regulatory frameworks in these and other jurisdictions have been laid, regulatory regimes continue to evolve as regulators respond to areas of particular concern, such as deepfake fraud or powerful new models."
How Can You Stay Compliant With New Regulation?
"Though artificial intelligence (AI) governance programs often build upon privacy programs, AI governance touches every part of an organization from corporate strategy to product development, marketing, education, recruitment, and workforce planning.
"Therefore, organizations should explore how existing laws and regulatory frameworks in these disparate areas apply to AI systems, as well as keep an eye on emerging AI regulations. It is also important to consider tooling for AI governance programs, to inventory an organization's AI systems and document its AI governance and compliance efforts."
What Role Do Global Standards Play In AI Regulation?
"Global standards and frameworks play an important role in artificial intelligence (AI) regulation. The EU AI Act relies heavily on the development of standards by certain European Standardization Organizations (CEN-CENELEC), while the Colorado AI Act considers an organization's alignment with the ISO 42001 standard (AI - Management Systems), or the NIST AI Risk Management Framework (RMF) as evidence that it is using AI responsibly.
"When using AI standards and frameworks - either as a source of best practices or to align with a particular regulatory regime - leaders should determine where in their organization they might have standards experts who can lead the way."
How Can We Influence AI Regulation?
"Governments often request feedback on draft regulations, codes of practice, and frameworks. Since artificial intelligence (AI) policy is a complex and rapidly evolving field, providing thoughtful feedback requires time and energy.
"Organizations interested in demonstrating leadership in AI policy should dedicate specific people and budgets toward these efforts. Organizations should also be clear about what kinds of regulatory initiatives they would be able to add value to.
"From participating in a regulatory sandbox to providing a NIST AI RMF profile, there are many such initiatives available."
How Are Organizations Implementing AI Governance?
"Organizations that quickly become compliant with artificial intelligence (AI) regulations have often already invested significantly in digital ways of working by promoting cross-functional collaboration, strong data governance, and centralized education efforts. Though AI governance and compliance programs need policies and tooling, the most important driver of a successful program is culture.
"Robust AI governance programs and a responsible digital culture positively re-inforce each other. Though leaders in highly-regulated industries like financial services and health care are often quick to understand the regulatory environment for AI, the maturity of their digital efforts often determines how successful their AI compliance efforts are."
What Will The Role Of AI Be Over The Next 5 Years?
"Artificial intelligence (AI) regulation continues to advance at a steady pace. The interactions of new AI models with social and economic issues will determine how AI regulations evolve over the next five to ten years.
"For example, policymakers are concerned about AI's impact on jobs and there is no consensus among experts on what this impact might be. It's possible that future AI models will reduce the need for employees, but it is also possible that they will create new industries and make people more productive, and the policy response will depend on how this interaction plays out."
What tools or strategies can help organizations manage and comply with AI regulations?
"Every artificial intelligence (AI) governance program requires an AI inventory, a collaborative process to assess AI systems and a way to document these efforts. So, organizations should adopt fit-for-purpose tooling early and ensure that it plays well with their existing technology stacks.
"Taking digital transformation seriously, promoting central education efforts and strengthening linkages with external experts can also help advance an organization's AI governance efforts."
To find out more about what the market is saying about artificial intelligence (AI) governance, download our AI survey results:
