Importance of having an AI Governance Framework

What is AI governance?

Artificial intelligence governance is the concept ensuring the machine learning domain is
well researched and developed with an aim of making AI system adoption fair to the people
with the help of a defined framework. There has been a great technological revolution in the
development of machine learning (ML) models and management of large volumes of data,
organizations are scaling their use of artificial intelligence (AI) technologies.
These technologies are being used to gather information on crucial business aspects like how
to automate business processes, and application of AI to enhance the customer experience,
improve operational efficiency as well as in understanding the target segment with the help of
techniques like predictive analytics. Growing applications of AI have reinforced the concerns
about ethical, fair and responsible use of technology that assists or replaces human-decision
making.
While adopting AI, it is important to have strong ethical and risk management frameworks
surrounding its use.
AI governance is responsible for handling the issues such as the right to be informed and the
violations that can occur when AI is misused.

The primary focus of a framework is how it navigates in area such as autonomy, data
models , justice and data quality, careful navigation in this area mentions which sectors are
appropriate and which are inappropriate for artificial intelligence framework and what legal
structures can be addressed.
Ultimately, AI governance determines how much of our daily lives can be shaped and
influenced by AI algorithms and who is in control of monitoring it.
Who is responsible for ensuring the use of AI ethically ?
Government is tasked with the responsibility of developing AI assessment methodologies and
legislation for AI. 
For example:
1. Government is building ample tools for researching and validating ethical AI.
2. The EU Artificial Act (EU) assigns three risk categories for applications and systems
that create unacceptable risk such as government-run social scoring; high risk
applications, such as CV-scanning tool that ranks job applications, lastly applications
not listed at high-risk.
Key principles of responsible AI includes the model to have empathy, control bias and should
establish accountability.

Main reasons that creates blocks for organisations in adopting AI

Lack of trust
There has been a lack of trust while accessing the data, because some organisations
are unable to access the right data, there are lot of problems associated with the
manual processes inculcated in artificial intelligence , because that makes it hard to
scale. The use of multiple unsupported tools that are used for deploying models delays
the processes. Some platforms are not optimised for AI, thus it creates a greater
problem in integrating the business processes with AI. Execution and planning in AI
requires reliable data that is backed up transparent and explainable tools and
processes. The key to scalability in an enterprise requires that the tools and
technologies used in deploying, monitoring and retraining models should be
specifically made for this process.

Risk Management
Risk management systems with AI solutions facilitate decision-making processes,
and reduce the risk of credit risks, the brand reputation is linked with their responsible
use of artificial intelligence. Ethical responsibility is a key factor that companies
should notice while handling artificial intelligence.

Scaling with right regulations

With increase in the evolution of artificial intelligence in every sector there has been a
key responsibility in handling the AI responsibly because the government
interventions will hinder the business processes specially in highly regulated industry
such as the healthcare , telecommunication and financial services. Failure in handing
the AI responsibly would lead to government intervention as well as regulatory fines
and damage to an organisation’s reputation.

The solution to this is ‘Artificial intelligence Governance framework’ that follows a

set of processes that are automated , and is well equipped with relevant tools and
technologies needed for the proper functioning of the organisation’s use of Artificial
Intelligence. There are a set of consistent principles that help in guiding the
deployment , development , monitoring and developing a responsible and trustworthy
AI.
These principles include :

Defining the model

 Transparency on how the model was developed and deployed would help in defining
the model correctly , this includes tracking provenance, documenting the model
lifecycle and capturing the meta data correctly. Model transparency enables
explainable AI that drives results, boosts public confidence and enhances the AI
adoption.

Trusting the model

The trust can be instilled in the model when the model complies with all the rules and
regulations that are well defined and follow enforced enterprise policies and
standards. The reliability increases when the model has defined set of rules for
validation as well as model retraining. Manual manipulation of data can induce costly
errors.

Using the model

Building up the transparent and explainable model requires the use and analysis of
model KPI’s while continuously monitoring the performance real-time. The ability of
sharing and tracking the model’s documentation and facts helps organisation in
making great analytical decisions.

Components of AI Governance

The AI Governance Framework focuses on :

 Defining a framework to support ML/AI governance
 Supporting the ethical, transparent and fair use of AI
 Defining the responsibility for AI 
Thus, AI Governance framework includes AI ownership, policies to support the AI
governance program , and model governance as well as the tools and technologies to support
AI. Monitoring the model is crucial because even when the model is trained properly it will
experience change, and because of the unforeseen changes, there should be a way to monitor
and capture the drift so an organization can see what changed and how to make adjustment to
the model.

The best AI model solutions focuses on simplifying the entire process of governing and
assure not to disrupt the existing workflow while managing significant disruptions.With the
help of these solutions the stakeholders always have visibility into how the model is
performing during all times.