Select and audit providers of AI models and services Â
Given the complexity of AI technologies, many businesses rely on third-party vendors for their AI services. However, these vendors can also be a source of AI risks, particularly if they lack appropriate controls or do not fully comply with them. Therefore, a rigorous vendor selection and audit process is essential. Business leaders should establish criteria for selecting AI vendors, ensuring they have robust security measures, ethical guidelines, and a proven track record of regulatory compliance. This might involve comprehensive due diligence, requiring vendors to demonstrate their commitment to AI safety and ethical use.Â
Furthermore, ongoing audits of AI vendors should be conducted to ensure compliance with established controls. These audits should assess the vendor’s AI development practices, data handling procedures, and adherence to ethical and regulatory standards. By doing so, businesses can identify potential risks early and take appropriate action to mitigate them.Â
Institute internal procedures, tools, and training Â
While external partnerships and vendor management are crucial, it is equally important that businesses have robust internal procedures in place to mitigate AI risks. This includes developing guidelines for AI use, establishing controls for AI development, and implementing tools to monitor and manage AI systems. Â
A good starting point is to develop an AI ethics policy that outlines the business’s commitment to responsible AI use. This policy should provide guidelines for AI development and use, addressing issues like transparency, fairness, privacy, and security. Moreover, businesses should implement controls throughout the AI development process, including risk assessments, testing and validation procedures, and oversight mechanisms. These controls can help prevent the creation of risky AI systems and ensure that any risks are identified and addressed promptly.Â
Furthermore, businesses should equip employees with the tools and training to work safely with AI. This might involve technical training on AI development, education about AI ethics, and tools to monitor and manage AI systems. By investing in their employees, businesses can create a culture of AI safety and responsibility, ensuring everyone plays their part in mitigating AI risks. Â
Remember, these measures are not just about protecting businesses but also contributing to the broader global effort to manage the safe development and use of AI.Â