AI Governance – What’s the big deal?

Currently, AI governance worldwide is mainly undefined, except for a few countries; most geographies have yet to develop a specific set of guidelines or mandate specific AI governance laws for business and society. Many countries, territories, or jurisdictions are still in the early stages of understanding what should and needs to happen.

AI governance should close the gap between accountability and ethics in advancing technology. With AI governance, boundaries within technology are created, minimizing harm and aggravating inequalities incidentally while it operates. As a rule, a governance plan should be in place before an AI project begins.

Why is AI governance important?

Eighty-seven percent of IT decision-makers believe that AI-powered technologies should be subject to regulation.  Of that group, 32 % percent believe that regulation should come from a combination of government and industry. Twenty-five percent believe that regulation should be the responsibility of an independent industry consortium. The basic framework must revolve around accountability, fairness, transparency, safety, and robustness. This framework will create a roadmap for businesses and organizations to take action and make their AI responsible and trustworthy.

Many stakeholders want increased regulation and guidance on governing technologies and managing implications if decisions go wrong. They realize that specific compliance guidelines can provide the broad framework for organizations to be proactive in  governing, managing, and instilling trust in their technologies. Organizations are still responsible for giving consumers and business users adequate transparency to ensure confidence in these powerful technologies. 

Where are we with AI governance globally?

Governments are starting to notice the role they should play in AI governance. Many say this is a bit overdue, considering governments have spent years funding AI development and skill sets without fully understanding or considering the potential societal impact and risks.

Some countries are actively shaping policies and putting forward legislation, while others are creating the frameworks for how the best-practice rules should look. However, most jurisdictions globally have yet to fully grasp the implications of how AI will shape their economies and societies. AI innovation is happening so quickly that even the most technologically sophisticated governments struggle to keep up.

Several organizations, groups, and forums exist globally with high-level academics, civil society, and industry experts to produce the ethical guidelines for trustworthy AI. To be moral and secure, various forums and groups need to come to an agreement on the essential requirements AI should meet. Still, a few that continue to surface are:

• Technical robustness and safety
• Human agency and oversight
• Privacy and data governance
• Transparency
• Diversity, non-discrimination, and fairness
• Societal and environmental well-being
• Accountability

What is Mantium doing to practice responsible AI?

AI governance mandates and legality is still up in the air. However, it’s certainly top of mind to us at Mantium. So far, only guidance on how to deal with AI governance exists, and no fundamental laws, regulations, or universal approaches on how to deal with AI governance. At Mantium, we offer several policies to put guardrails around your AI workflows, and this is one of the ways we can give humans control over the operation of their AI. Human collaboration or human-in-the-loop, truth, fairness, and ethical awareness of AI are a part of our DNA. Currently, Mantium has several governance policies to allow humans to limit and monitor AIs in the following ways: 

• Character limits and rate-limiting are significant for controlling spending on external providers. 
• Confidence score, the AI can tell you when it’s not so sure about a response, ensuring that you’re presenting responses to users with appropriate confidence. 

Sign up and experience all that Mantium can offer, including:

• AI templates – Pre-populated templates give you the ease of use you desire and a path to AI in less time than it takes to drink a cup of coffee. 
• Quick and efficient testing – Launch prototypes quickly and share the link to gain team buy-in and collaboration. 
• Dedicated customer success team – As you might already know, we offer a world-class team of data scientists and NLP engineers to support your needs, from start to finish. 
• All levels welcome-from dabbler to the AI enthusiast. Regardless of your AI skill set or level of expertise, we have the people and tools to support you in your AI journey. 

As you can see, natural language processing is a powerful tool that has the potential to change the way enterprises operate. If you’re interested in learning more about how the Mantium platform can help you, contact us today for a demo, or join the beta waitlist for our newest release, AI Builder.