Investing in AI can pay off significantly for those exploring ways to be more efficient and effective. However, AI investments can be costly without defined objectives or success criteria. Further, unmanaged risks or failures can cost more than money - they can destroy your credibility and reputation.
What should you consider when teams tell you they’ve got AI “covered”? To increase your chances of success with AI, align your organization and projects around the following 7 actions.
Data lineage and AI: Ensuring quality and compliance
Ready to uncover the secrets of modern systems engineering and the future of AI? Join us for an enlightening conversation about data lineage with Matt Barlin, the Chief Science Officer of Valence.
As the use of AI expands everywhere, governments are focusing on regulating it. In the EU, recent legislation introduced a broad framework governing AI, categorizing AI tools into four levels based on associated risks: minimal, limited, high and unacceptable. The higher the risk, the stricter the rules. Similar regulations will likely be implemented in the USA by the end of the year. The National Institute of Standards and Technology (NIST) is a set of generative AI and global AI standards. Given the forthcoming legislation, businesses need to formulate internal policies regarding the acceptable use of AI—and the sooner, the better.
Back in October 2017, the cover of Barron’s featured a heavy mallet lying next to mashed up Big Tech logos. At the time, the push to regulate and even break up tech companies was gaining stream. It was a prescient story given the countless regulatory efforts still to come.There have been press conferences and multiple high-profile hearings, led by both Democratic and Republican Congresses. There have been exhaustive reports written by congressional committees. There have been investigations and trials. In the end, nothing has happened.
As GenAI becomes more capable of handling complex tasks in a variety of industries, lawmakers and government agencies are racing to provide guidance and regulations that meet the moment. While it’s still early days in most parts of the world for AI-related business regulations, regulations are coming, so retailers and other businesses should be prepared.
