Six Essential Steps to Enhance Your Organization’s AI Governance

As artificial intelligence continues to be regulated globally, organizations must establish robust AI governance models to navigate AI’s complexities and maximize its benefits. Mitratech’s Emily Bogin highlights six essential steps to enhance your organization’s governance of AI.

1. Know where your AI lives. Conduct a thorough audit to identify all AI tools and platforms within your organization, including those used by third parties. Use both attestation and digital sweeps to ensure a complete inventory.
2. Investigate the AI risks. Evaluate potential risks associated with your AI systems, such as bias, data security, compliance, operational impact, reputation risk, and financial risk. Understanding these risks will help prioritize mitigation strategies.
3. Educate your company on AI. Given the complexity and novelty of AI, it’s crucial to educate employees and employers about the risks and ethical considerations of AI. An educational foundation helps identify biases, false or misleading information generated by AI and prepares the workforce for evolving technologies.
4. Understand how much risk your company is willing to take on. Engage stakeholders in ongoing discussions to determine the organization’s appetite for risk. This continuous dialogue provides insights into acceptable risk levels once they are identified.
5. Define a cadence for inventory review: Establish a regular schedule for updating your AI inventory based on the risk level of each system. High-risk AI systems may need quarterly reviews, while lower-risk ones might suffice with annual reviews.
6. Begin to operationalize your AI governance plans. Foster collaboration among stakeholders — including experts, policymakers, and the public — to develop inclusive decision-making and policy frameworks. Increased transparency will enhance AI literacy and build trust in your AI systems.

By implementing these steps, companies can proactively govern AI, mitigate risks, ensure compliance, and build trust in AI technologies. Comprehensive software solutions that govern the entire AI life cycle can further streamline this process, ensuring effective and ethical AI governance.