Viewpoints: Strategic – AI Maximizing Growth Opportunities while Managing Risks Part 1

Part 1 – AI Governance

Webinar May 31, 2023

Hosted by the High Technology Sector/AI & Cloud Computing Subsector

LES is hosting a captivating webinar series titled “Strategic AI – Maximizing Growth while Managing Risks” featuring industry experts. Over the course of four informative sessions, these speakers are delving into the crucial aspects of AI governance and sharing practical strategies for risk mitigation.

Part 1: AI Governance,

In the first part of this series, attendees listened to a panel of experts, including Sayoko Blodgett-Ford, Principal and AI Group Co-Lead at GTC Law Group, who expertly moderated the discussion. Joining her were Peter Lefkowitz, Vice President, Chief Security and Trust Officer at Cloud Software Group, and Adriano Koshiyama, Co-CEO and Co-Founder at Holistic AI. Together, they provided valuable insights into AI governance, and here’s a recap of their enlightening webinar.

Artificial Intelligence (AI) is rapidly revolutionizing industries across the globe, offering unprecedented opportunities for innovation and productivity. With the rise of machine learning and generative AI (GAI), organizations can unlock the transformative potential of AI in various aspects of their operations. However, along with these opportunities, there are inherent risks that need to be managed effectively through AI governance.

In the first part of the webinar series, Sayoko Blodgett-Ford, Principal and AI Group Co-Lead at GTC Law Group shares her insights and expertise on AI governance. With a background in artificial intelligence technology, Sayoko highlights the importance of establishing an effective and strategic internal AI governance program within organizations. This program serves as a framework to navigate the demands for responsible AI from lawmakers and regulatory authorities globally. By setting strategic goals for AI at the C-suite level and ensuring visible accountability to the Board of Directors, organizations can meet the expectations of their customers, partners, and employees in terms of responsible and accountable AI use.

Sayoko emphasizes the significance of involving lawyers and regulatory compliance leaders in the AI governance discussion early on. Their expertise can help support the transformational use of AI while ensuring legal compliance and avoiding any ethical or legal boundaries. AI governance is not a one-time implementation; it requires continuous adjustments and fine-tuning to align with the evolving legal and regulatory landscape.

Moving on, Peter Lefkowitz, Vice President and Chief Security and Trust Officer at Cloud Software Group, focuses on AI strategy for global organizations. He highlights the importance of European privacy regulations, such as the General Data Protection Regulation (GDPR), in shaping AI governance practices. Peter explains how GDPR addresses transparency, consent, a legitimate basis for data use, and limitations on automated decision-making. He also mentions the new laws and proposals globally that are specifically targeting AI regulation.

Peter stresses the need for organizations to assess and manage the privacy risks associated with AI. He discusses the various factors that organizations need to consider, such as the transparency of AI algorithms, individuals’ autonomy over their data, and the limits on automated decision-making. These considerations are crucial in ensuring compliance with privacy regulations and building trust with customers.

Adriano Koshiyama, Co-CEO and Co-Founder at Holistic AI, shares insights into their product and company, which offers a Governance, Risk, and Compliance (GRC) platform for AI. He explains that their platform helps organizations with governance activities, risk assessment and mitigation, and compliance monitoring related to AI. By effectively managing the governance, risk, and compliance aspects of AI, organizations can navigate the regulatory landscape and ensure the responsible and compliant use of AI technologies.

Throughout the webinar, the speakers highlight the significance of AI governance in addressing the legal, privacy, security, and ethical challenges associated with AI adoption. By implementing an AI governance program, organizations can proactively manage risks, ensure legal compliance, and build trust among stakeholders. The webinar series aims to equip participants with the knowledge and strategies needed to build successful AI governance programs and leverage AI’s potential while mitigating associated risks.

As the webinar series continues, participants can look forward to gaining deeper insights into legal issues and practical risk mitigation strategies surrounding generative AI, navigating urgent legal requests with limited resources, and exploring specific AI topics based on popular demand.

In the rapidly evolving AI landscape, AI governance is essential for organizations to responsibly harness the power of AI and unlock its full potential for innovation and productivity.

LES members can access the full recording here:

Part 1: https://members.lesusacanada.org/store/viewproduct.aspx?id=22201230

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