Creating an AI Governance Framework for CX

The risk of poor AI outcomes due to weak governance is a significant concern in the development and deployment of AI technologies. Weak governance and a poor AI architectural framework can lead to a variety of negative consequences, including:

• Bias and discrimination
• Privacy violations
• Security risks
• Lack of transparency
• Poor data quality
• Incorrect output

Just take a look at the proliferation of smart devices over the years ranging from thermostats, cameras, and refrigerators. Many of these companies rushed these products to market without a secure architecture in place. Because of this governance oversight these devices became targets for hackers, which led to security breaches and privacy issues. One way to put it is:

“The bad implementation of a great idea will always become a great example of a really bad idea!”

• Jim Carroll, Global Futurist and AI keynote speaker

Jim goes on to say that “most IOT (Internet of Things) projects today are a complete failure - they are insecure, built on old outdated Linux stacks with mega-security holes, and ill-thought out architectures.”

Without a robust AI governance framework in place, CX organizations run the risk of losing the trust of their customers. Effective governance ensures that AI-powered CX initiatives adhere to principles of transparency, fairness, and accountability, safeguarding customer trust and loyalty. Moreover, robust governance frameworks help businesses navigate regulatory complexities, mitigate risks associated with algorithmic biases, and enhance CX innovation.

Does AI Governance Stifle Innovation?

While there is a growing consensus on the importance of AI governance, it’s worth noting that a segment within the field holds reservations, fearing that stringent regulations could stifle innovation. This perspective often emphasizes the potential for overregulation to impede the agility and creativity necessary for AI advancements.

Despite these concerns, proponents of AI governance assert that responsible regulation can actually promote innovation by providing clear guidelines and standards for ethical AI development. Dr. Rumman Chowdhury is one of them:

“It is important to dispel the myth that ‘governance stifles innovation’. This is not true. In my years of delivering industry solutions in Responsible AI, good governance practices have contributed to more innovative products. I use the phrase ‘brakes help you drive faster’ to explain this phenomenon - the ability to stop a car in dangerous situations enables us to feel comfortable driving at fast speeds. Governance is innovation.”

Responsible AI Fellow, Dr. Rumman Chowdhury

With this in mind, hit the link and let’s explore how the increasing reliance on AI in CX necessitates a robust framework of governance to ensure ethical, transparent, and accountable practices: