Take a few moments to insure your business from the impacts of artificial intelligence.
Where are we Now?
If we move past the hype around artificial intelligence (AI), the slick vendor marketing, and the simplistic boom-bust cycle, we see some clear trends:
- Returns from AI types – Business is experiencing ongoing returns from the different AI types (whether it is IVR, Chat Bots, Robotic or Facial Recognition) whether it is productivity gains, enhanced services, or cost savings.
- AI within applications – From logistics software to financial crime detection and management, to food production and legal services, to medical imaging, AI is becoming routinely embedded within business solutions (often appearing seamlessly to users) to deliver products and services.
- Realising AI integration – Both the integration of different AI types and systems and data integration are delivering returns to business.
Even those questioning the current effectiveness of Generative AI, the revenue models, or the over investments seen, see the potential of AI, whether realised or not. We are also seeing:
- Sovereignty – From businesses to government (country, state, local level) the sovereign risk from AI to operations is being recognised with its associated risks and the need for management practices.
- Data Security – The risk from inappropriate data sharing, data used in open source cloud based solutions with a lack of oversight and diligence is being recognised and measures to address and for resolution are sought.
- Vendor Risk – The risk to business from reliance on vendors for critical services and the risk vendors pose to operational supply are also of concern.
- Algorithm (Learning Model) Control – Businesses to have control over the learning models (LLMs) used, with a need for their own models and the ability to exercise management over. This includes the learning by algorithms and the testing of performance and outcomes.
There are a series of measures business can take to protect their commercial and vested interests.
Some Measures to Protect Business
There are series of measures which businesses, organisations, and governments can undertake to help protect themselves from AI and the related impacts. Many are exclusive of technology, as well as organisational type, size, sector, location, or regulatory regime. These include but are not limited to:
- Insurance – Review the current insurance policies and needs of business around the risks and threats from AI, especially the use of open cloud based AI solutions. This should include the impacts from and to for vendors, channel parties, and 3rd parties.
- AI in Service Agreement and Arrangements – The staged revisions to service agreement and arrangements to include protection for a business from preventable AI outcomes especially in the form implementation, operations, services, controls, and frameworks.
- Data in Service Agreement and Arrangements - The staged revisions to service agreement and arrangements to include provisions and protections of data across safety, security, supply, continuity, quality and assurance. This is particularly so for end of contracts, for breaches of services, and performance management.
- Legal Services – Having access to legal services with the ability to protect, and as needed prosecute, around AI and data practices to protect businesses. Form general awareness, to contracts and procurement, to specialisations, revisions to legal experience and expertise are required.
- Ownership – Resolution of ownership, including liabilities and responsibilities, within the logistics chain and value stack (especially technology and data). Ownership is about protection of a business.
- Risk – Those in risk management, audit, assurance, regulatory and compliance, security, and data governance amongst others are also set for an increase in demand for services, especially around AI and the impacts from Generative AI.
- Contingencies – Having the required contingencies, whether people or cash-flow, to endure as a business through the technology transformation and business transformation as well as for crisis management.
- Remediation – AI can contribute to the cause and scale of issues requiring remediation, and AI may play a role in remediation. Either way, the capacity and capability to remediate from AI outcomes is required.
- Audit – The necessary audit function is required for managing AI and its impacts and outcomes. This includes controls oversight and risk management.
- Assurance – The required assurance regimes with controls, risk management, skilling (ability to do), training (how to do), readiness and testing.
Many of these come from the required board, executive, and leadership.
What do we See?
Areas we can expect outcomes can include:
- Jobs – Take the example of data scientists and data analysts. If the demand is increasing and greater use of products and services results, then growth can be expected in services for the lawyers who prosecute and defend when service continuity and supply as well as derived actions are impacted.
- Data Products – The greater use of blended and derived products sees the need for better practices and governance for derived quality and managing variable consistency, for the assurance from 3rd party assessors with aligned vested interest, for management of on-sold products with weak accountability and transparency, to enabling the risk management required, and for the assurance, audit, and controls.
- Hiring Process – Changes in the hiring process around the use of AI and of those sourced with AI skills and expertise for business needs.
- Data Practices – Having better data governance and data practices across operations which are business specific, role specific and scenario specific to meet needs.
- Insurance Premiums – An increase in insurance premiums.
- Media & Brand – Better actions, including the use of AI, to manage adverse media and brand protection from AI and AI consequences.
Related Links
- Technology & Opportunity Reflections – Bridging for AI Resources, Skills, Experience, Expertise (https://youtu.be/ypqTvr6m7kE)
- Technology & Opportunity Reflections –Growth Areas in Artificial Intelligence (https://youtu.be/RjbMCVXmdEc)
Bring a culture of responsibility and integrity to your organisation | Make Finance, Procurement, HR & IT work together | Over 20 years solving corporate challenges | Available, permanent or contract, in UK, Ireland & EU
5 个月AI pattern matching and facial recognition looks like it is kicking goals, Keith. I’m less convinced by IVR and live chat. AI could be a huge improvement on the status quo, even if the service is awful. I don’t see replacing abysmal with bad as much of a win – better to give up and return to hiring people.
Business and Technology Transformation | Program Management PMOs TMOs | Artificial Intelligence & Data Governance Integration
5 个月This post forms part of our information source of videos (nearly 300), together with postings, books, and conference proceedings (see Business Transformation – An Information Gateway: (https://www.dhirubhai.net/feed/update/urn:li:linkedInArticle:7188815225121341441/) which are freely available for you to realise.
Business and Technology Transformation | Program Management PMOs TMOs | Artificial Intelligence & Data Governance Integration
5 个月There are basic actions a business (an organisation) can undertake to protect itself from the adverse impacts of #ai #artificialintelligence which it is bound to experience. The question is not whether but when. Having the #insurance the #legal and the #brandmanagement is part of the sustaining, protecting, and remediation of a business. Please take a few moments to see how lese your organisation can be protecting itself.