author: Sam Ip
April 23, 2024
Artificial intelligence (AI) has made rapid advances over the past year, reshaping the global business landscape. With the rapid adoption of generative AI, businesses are eager to streamline processes and reduce workloads. However, amidst the excitement, it is important for business leaders to carefully consider and evaluate the potential risks and responsibilities associated with this emerging technology.
In the video below, Sam Ip, partner at Osler Technology Group, provides valuable insight on how to rapidly integrate generative AI systems and proactively protect your business. Our team of AI experts is at the forefront of this evolving landscape, regularly writing policy and providing guidance on the development of AI governance. Subscribe below to stay informed and protect your business.
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video transcript
Sam: Hello. I'm Sam Ip, a partner in Osler's Technology Group. We work with clients to help them rapidly implement artificial intelligence within their organizations.
The evolution of AI has been remarkable over the past year. AI is being used in coding, writing, and media production.
Enterprises have rapidly adopted generative AI in hopes of increasing efficiency and reducing workloads. But before leveraging emerging technologies, business leaders should consider how to protect themselves from AI-related risks and liabilities.
The first step is to assess how your organization intends to use AI. Are you going to be a technology developer? Are you going to work for a company that implements technology as part of a product or service, or are you just going to use technology as part of your business? The risks vary depending on the answer. Masu.
However, all organizations using AI must establish a governance framework for responsible AI and develop policies and protocols for the technology. These must take into account issues such as accuracy, safety, fairness, bias, and transparency. It must also address an important consideration in high-risk use cases: human oversight.
Accountability is critical for companies using AI. You need a way to report, escalate, and resolve issues. We also need a way to evaluate the performance of AI systems and measure their impact.
It's not enough to just think about AI. Companies need to consider the big picture.
How does AI fit into your governance framework?
For example, consider confidentiality. Are AI-specific policies required? Or can existing policies be clarified and adapted to include AI? About producing sensitive, confidential, or proprietary information to feed into AI services , what do your existing policies say? Are there rules about using sensitive information to train or enhance AI models, especially if the AI technology is not hosted on a server?
With AI on the horizon, now is the time to lay the groundwork for its responsible development and deployment. Ethics by design should be included from the beginning. Doing it now will save you time and money later. This is especially true as governments begin to regulate the use of AI and are mindful of ethical concerns.
The federal government is working to pass the Artificial Intelligence and Data Act (AIDA). Ottawa also worked with companies to develop a voluntary code of conduct for the responsible development and management of advanced generative AI systems.
Beyond government agencies, organizations such as the Digital Governance Council are establishing standards for Canadian innovators. The Office of the Superintendent of Financial Institutions and the Global Risk Institute also published a joint report providing guidance on AI for financial services institutions.
Many aspects of AI management and governance are evolving, making it difficult to stay current. But Osler's team of experts is here to provide guidance and solutions to help you keep your AI deployment and business safe and compliant with best practices, policies, and regulations.
