Smartlogiq reposted this
CTO | I help CEOs accelerate profits through digital transformation and innovation with direct positive impact to profits and operational efficiency in the financial services, tech & government sectors
🚨If your AI does the crime, you'll do the time, warns DoJ 🚨 That’s a great headline from one of my favourite online tech news outlets The Register. AI Compliance is now even more important than ever, as it is fast developing arena and still not a global or regional standard. Interesting that the DOJ has started to develop their stance on Corporate AI use. No doubt other jurisdictions are looking into it and developing their position. Hopefully we'll end up with something that is consistent across the globe. The U.S. Department of Justice has updated its guidelines, putting AI under the compliance microscope because they can see the risks growing. Here are the top 5 takeaways every business leader needs to know: 1️⃣ Companies will be held accountable for AI's actions, even if unintended. 2️⃣ Compliance officers must now assess AI's potential impact on legal compliance. 3️⃣ The DOJ expects proactive measures to curb negative consequences of AI use. 4️⃣ Prosecutors will scrutinize safeguards against AI misuse, including by insiders. 5️⃣ Continuous monitoring and testing of AI applications is now expected. 🛡️ How to mitigate these risks? 1️⃣ Implement robust AI governance frameworks, AI monitoring and audits 2️⃣ Conduct regular risk assessments, establish clear accountability chains 3️⃣ Invest in AI ethics training 4️⃣ Maintain comprehensive documentation of AI decision-making processes 5️⃣ Create transparent reporting mechanisms to ensure their AI tools operate ethically and legally Remember, in the eyes of the DOJ (or the equivalent body in your jurisdiction), ignorance is no longer bliss when it comes to AI. The concern here is that most audit/compliance officers are not necessarily up to speed with the tech and its functionality, and their response (or push back) may not be as measured as it should be to support the Corporate's AI uptake or innovation drive. https://lnkd.in/e6U5UMww #AICompliance #CorporateGovernance #TechLaw #LeadershipInAI #aitransformation #ECCP #cto