As time passes, organizations are growing more comfortable taking on AI governance difficulties, but this isn’t without problems. Blind spots are already occurring, as evidenced by the fact that only 8% of the legal teams outlined technological disruption as an immediate risk in a recent survey by Diligent.
“This calm was a little surprising to me, given the current frenzy to integrate AI and see results as soon as possible,” says Dottie Schindlinger, Executive Director of the Diligent Institute.
When technology is unprecedented, it makes things difficult for all governance professionals, including company secretaries, compliance officers, risk managers, advisors, and leadership. Why? Because these professionals are on the frontline of AI governance and they must ensure that AI is implemented successfully while keeping compliance in check.
How to Overcome AI Governance Challenges
If this sounds familiar, we’re here to help. Looking at the AI governance challenges of today, Diligent hosted a recent podcast episode with Beena Ammanath, the Global Head of the Deloitte AI Institute and an expert on navigating tech disruption. Taking the knowledge from two of her books in this area, she gave some salient advice – and we’ve summarized it right here, in 3 realistic tips for overcoming AI governance challenges.
1. Overcoming Workplace Disruption
Most governance and legal professionals follow an established career path, including education, followed by a lot of time making and checking endless documents.
But now AI has automated the whole process, transforming the team’s workload and profession’s overall pipeline and career trajectory. It leaves these team members understandably worried, especially when they hear promises that AI will take away the boring parts of their work and make their jobs easier. For example, a company secretary may find themselves contending with AI meeting minutes makers or AI board pack builders, leaving them wondering if AI may eclipse their important role altogether. But this doesn’t have to be the case.
“Leaders have a responsibility to go beyond the clichés,” Ammanath said. “What happens to the workday when organizations make the job easier? If AI is going to create new jobs, what are those roles?”
Building on Ammanath’s point, governance professionals, like company secretaries, who are worried about AI may find themselves needing to assist leadership with navigating this disruption by becoming strategic advisors. AI doing the mundane tasks means that these professionals will be free to embody such a role with more ease.
2. Finding the Ideal Division of Labour
Then there’s the matter of the human/machine relationship. “How can leaders thrive and succeed in this era of AI where humans and machines are working so closely together?” Ammanath asked. “To work in the best possible way, where can we get the maximum benefit with the minimum side effects?”
We’ve all seen cautionary tales about students outsourcing the entirety of their coursework to ChatGPT. This should go without saying but: Don’t do that in your organization.
In the podcast, Dottie and her cohost, Meghan Day, referenced studies of what people’s brain waves look like when they use AI at different levels. The heaviest AI use showed the lowest brain function, almost like people were asleep. More optimal EKG activity happened when AI users started a task with their brains and then added ChatGPT.
“Personally, I’ve been most successful embracing AI in my job in areas where I already know what good looks like,” Day said. “And AI is able to speed my work along.”
AI also promises big potential for board members. You can train different agents to have different personalities and perspectives so they can frame problems in new ways for you, for example. But you’ll still need to oversee them and evaluate their output with your own human expertise to ensure accuracy and nuance.
3. Make Continuous Education a Cultural Norm
Navigating AI’s risks and rewards requires knowledge of AI itself – at every level of governance.
This doesn’t mean dropping everything to become an AI expert (although those nine-figure job offers make it tempting). It means having a basic understanding of core AI principles, like machine learning, deep learning and computer vision, and what these principles look like in action.
“It’s important to focus the time and energy to not only learn about AI, but start using AI tools in your job,” Ammanath said.
Searching for the full podcast? Listen to the full conversation on the Corporate Director Podcast: AI leadership strategies for a changing world.
FAQs About AI Governance
What are the main challenges organizations face with AI governance?
Organizations face challenges such as blind spots in risk evaluation, technological disruption, and the need to adapt governance practices to accommodate AI’s rapid integration into business processes.
How can legal and compliance teams adapt to AI-related disruptions?
Legal and compliance teams can adapt by evolving their roles from traditional document management to strategic advisory positions, focusing on understanding AI’s implications and guiding responsible deployment.
What strategies can organizations implement to overcome AI governance obstacles?
Organizations should promote continuous education on AI principles, foster collaboration between humans and machines, and reframe employment roles to leverage AI as a tool for strategic advancement.
How important is ongoing education in AI for governance professionals?
Ongoing education is essential for governance professionals to stay informed on AI developments, understand related risks and opportunities, and effectively oversee AI implementation within their organizations.
What is the recommended approach for integrating AI tools into existing governance practices?
The recommended approach involves gaining a foundational understanding of AI principles, actively using AI tools to enhance workflows, and maintaining human oversight to ensure accuracy and nuanced decision-making.