Info-Tech Research Group has officially published its resource called Develop an AI Compliance Strategy, which is designed to help organizations access a structured and risk-based approach for navigating challenges around modern-day regulatory compliance.
Before we dig into the given resource, we must take into account how the advent of AI, while immensely beneficial in a way, has also created several challenges for organizations across the globe.
Info-Tech’s Develop an AI Compliance Strategy resource, in response, makes a point to explore the challenges and opportunities organizations face amidst growing AI usage. More on that would reveal the report in question exposes AI applications’ tendency to rely on extensive data processing and make critical components like data privacy and security real concerns.
As a way of addressing these challenges, Info-Tech’s report also brings forth an assortment of recommendations that all come together to make up a risk-based approach aligned with global standards, thus empowering organizations to focus on critical activities and deal with regulatory requirements with confidence.
“Business leaders have a responsibility to understand which local, national, and industry-specific regulations and standards for AI apply to their organization,” said Safayat Moahamad, research director at Info-Tech Research Group. “They must identify AI systems, applications, and related vendors used within the organization.”
Talk about the given resource on a slightly deeper level, it outlines a four-step approach to help organizations proactively anticipate and address AI regulatory requirements.
The stated four steps begin from identifying AI systems and applications. This translates to generating visibility by spotting out current and planned AI solutions, all for developing a comprehensive portfolio of AI investments.
The next step in line would be to define controls necessary for governing the AI system. Here, the idea is to help organizations establish controls that align with regulatory obligations and best practices, eventually assessing compliance with a responsible AI framework.
Another detail worth a mention is rooted in the suggestion of implementing tasks and actions to mitigate risks. To expand upon that, organizations must prioritize initiatives that, on their part, can come in handy for achieving compliance. These initiatives may also ensure that all stakeholders are on the same page in the context of introducing necessary controls within established timelines.
Rounding up would be a facility to actively gauge compliance efficiency. This involves figuring out metrics to track progress and periodically review metrics, as well as communicate updates to stakeholders.
Among other things, we ought to mention how Info-Tech’s data-backed research paves the way for a risk-based strategy, which is complimentary of international standards and enables organizations to focus on critical tasks, while simultaneously addressing data privacy, security concerns, and regulatory obligations.
Founded almost 30 years ago, Info-Tech Research Group’s rise up the ranks stems from delivering unbiased, highly relevant research, along with advisory services, to help leaders make timely and well-informed decisions. The company is presently focused providing its clients with everything they need, ranging from actionable tools to analyst guidance. Info-Tech’s excellence in what it does can also be understood once you consider it is trusted by more than 30,000 IT and HR professionals across the world.
“AI technologies are rapidly advancing, and complex regulations are emerging constantly to keep pace. Different jurisdictions have their own AI regulations, leading to a patchwork of rules that organizations must navigate,” said Moahamad. “While there is a growing need for AI solutions to address various business challenges, organizations must be cognizant of the obligations they may be subject to.”
