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December 2023 | What's new this month

AI Governance Needs to be More than Regulation

Companies that view the EU AI Act as a compliance-only exercise are missing a tremendous opportunity. Read our latest LinkedIn post from our CEO, Anthony Habayeb, on what model governance does or your models, above and beyond regulatory compliance. 

Three Steps to AI Governance

Businesses are exploring the potential of AI to improve efficiency, productivity or competitiveness. The benefits are too significant to ignore. However, blithe acceptance of AI system outputs can contribute to poor decisions that can harm a business and its customers. We've put together a series of blog posts highlighting three critical topics companies should consider as they move forward with AI program development and adoption: 

• Why Businesses Need AI Standards and Governance
• The Business Case for AI Governance
• Which Roles Care About AI Governance

The AI Fundamentalists Podcast

Joshua Pyle joins us in a discussion about managing bias in the actuarial sciences. Together with Andrew's and Sid's perspectives from both the economic and data science fields, this trio delivers an interdisciplinary conversation about bias that you'll only find here.

AI Governance & Assurance | Ethics & Responsibility

AI Policy and Governance: What you need to know

Detailed and comprehensive AI policies help organizations more effectively manage AI governance, data usage, and ethical best practices for artificial intelligence. AI governance — the practice of monitoring, regulating, and managing AI usage — ensures active compliance with AI policies. This guide dissects AI policy and governance in greater detail, explaining how an AI policy that emphasizes all areas of AI governance can lead to more effective use of AI and a more ethical and successful business operation as a whole.

Industry Regulation & Legislation

NAIC Model Bulletin: Use of Artificial Intelligence Systems by Insurers

On December 1st at their Fall National Meeting, the NAIC members approved its model bulletin on the use of AI by insurers. Read the adopted draft here.

Europe agrees landmark AI regulation deal

Europe on Friday reached a provisional deal on landmark European Union rules governing the use of artificial intelligence including governments' use of AI in biometric surveillance and how to regulate AI systems such as ChatGPT. With the political agreement, the EU moves toward becoming the first major world power to enact laws governing AI.

The State of State AI Laws: 2023

The 2023 legislative session has seen a surge in state AI laws proposed across the U.S., surpassing the number of AI laws proposed or passed in past legislative sessions. Ten states included AI regulations as part of larger consumer privacy laws that were passed or are going into effect in 2023, and even more states have proposed similar bills. Several states proposed task forces to investigate AI, and others expressed concern about AI’s impact on services like healthcare, insurance, and employment. This article contains a list of state laws going into effect, passed, or proposed for the current legislative session.

Impact & Society

The Future of AI: What Lies Ahead?

АI is а new field thаt is nоw referred tо аs "weаk АI" (due tо limitаtiоns). Hоwever, estаblishing strоng АI is the future оf аrtifiсiаl intelligenсe. АI саn сurrently оnly defeаt humаns in а few раrtiсulаr skills, but it is believed that in the future, АI will be аble tо beаt humаns in аll соgnitive tаsks. It will undоubtedly hаve bоth роsitive аnd negative imрliсаtiоns.

Happy Holidays!

From all of us at Monitaur, we wish you and your family a happy holiday season and a happy new year!