Have you established an AI governance team that’s different than your data and IT governance group?
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We have established a separate AI governance team but it is expected to be for the short term. We expect to be able to address AI governance through existing compliance and steering groups related to IT security, data governance etc. One of the key aims of the AI governance team is to identify reasons why that can or can't happen, and assuming it can, to help incorporate AI governance into other forums for efficiency.
For us, we're a relatively small operation, and we tend to run lean. We have a compliance committee and an internal legal group, but we're still working on an official AI policy. Currently, AI is managed manually through IT leadership in close partnership with our compliance and security teams. We have a tight partnership with WebBank and are looking at their AI policy and management strategies. While we have a draft policy, it's not fully executed yet. We don't have a separate standing committee just for AI. Instead, we aim to integrate AI into our existing processes as another technology, without the need to establish a whole new group.
Yes, we have an AI governance board that has been in place for about a year. Alongside this, we have a set of AI guidelines, ratified by our leadership, which we expect everyone in the organization to adhere to. These guidelines are not yet a full policy, but they are published and enforced through both technological and non-technological controls to ensure compliance.
To clarify, our group isn't dedicated solely to AI. It's composed of people with other roles who contribute to AI strategy and governance. Being in a highly regulated space, we draw on experts from across our organization. The regulatory landscape is constantly evolving, with new guidelines frequently released, so we have to keep pace on both the strategic and regulatory fronts.
We have established a separate AI steering group, but it has participants from information security, legal, data, comms, business representation, etc. Its remit was first to establish our original AI usage guidelines, but now functions as an initial governing body to vet proposed initiatives and help advance responsible and valuable use of AI across the company.
Many of the typical 'governance' functions around AI are handled by the normal groups (Information Security, IT compliance, Legal, Risk, etc.)