Different Approaches Towards Establishing AI Compliance Governance And Frameworks

Introduction

As companies start to explore the use and implementation of AI related tools and platforms, it is unavoidable that companies will also need to start considering the most appropriate manner to regulate the use of AI, regardless of whether such AI tools and platforms are used internally or externally by their customers, partners and/or stakeholders. AI compliance is key for encouraging the growth of AI¹. With the rising number of highly publicised stories featuring the use of AI gone wrong, companies and even their employees may be cautious about the use of AI. Without a proper compliance framework, such cautiousness may impede the use of AI in an organisation as everyone becomes more wary of the risks that come along with it, in particular any unknown minefields that they may inadvertently trigger². Further, the introduction of AI compliance and governance frameworks prepares companies to deal with any incidents arising from the use of AI. Even though,