AI governance is the process of setting up rules, standards, and supervisory systems to foster a more secure, equitable, and accountable AI environment. It offers numerous advantages such as reducing potential dangers linked with AI, enhancing positive effects on individuals and society, and promoting responsible AI implementation. Conversely, there are risks tied to AI governance that include matters like data protection and security, bias and discrimination in AI algorithms, absence of transparency and comprehensibility in AI models. There’s also the danger of becoming overly dependent on technology which could result in a decline in critical thinking abilities among human employees. Organizations can utilize AI governance to fully exploit the capabilities of AI while establishing trust, adhering to regulations, and effectively managing emerging threats.
