The Growth Trajectory of AI Governance

Does your business have an AI governance strategy in place yet? As AI permeates virtually all aspects of business, you may be falling behind without one.

55% of organizations now have a board dedicated to overseeing AI, according to a recent Gartner poll of nearly 2,000 executives. That’s an impressive—but not surprising—growth trajectory from last year, when less than half of the companies surveyed had taken any steps to address even their highest-priority AI risks. Fewer than five years ago, most Americans had little confidence in any organization’s capability to harness and handle AI. The status quo looks very different today: with 40% of organizations planning to increase their investment in AI technologies, businesses are also investing in AI trust.??

AI governance strategy is still in its early days: Gartner also found that only 12% of organizations’ AI leaders have the title of Chief AI Officer, with many taking on the role in an informal capacity. New rules, laws, and regulations are springing up every day across much of the globe including the EU AI Act, NIST AI Risk Management Framework, US Colorado Consumer Protections for Artificial Intelligence, and many more. We are at a key turning point: AI governance has been rightfully recognized as a business-critical priority required for AI-powered innovation.?

As more organizations seek to reap the rewards of generative AI technology, governance, and proper risk management will only become more essential to demonstrating its value. Learn more on this topic and the EU AI Act from Casper Labs.