The EU AI Act, dubbed “the world's first comprehensive AI law,” is expected to become law across the EU later this year. It bans certain AI use cases that pose an "unacceptable risk" and defines other "high risk" applications, while also laying out governance rules to reduce risks such as bias and discrimination. The Act is expected to have international implications, similar to GDPR, and could impact companies operating outside the EU if they carry out AI-related activities involving EU users or data. As a result, more companies are expected to establish AI governance committees as a compliance measure and to anticipate and manage potential risks.
Key takeaways:
- Rubrik, a data management company, has set up an AI governance committee to oversee the implementation of AI in its business and evaluate potential risks.
- The EU AI Act, expected to become law later this year, will push companies to adopt AI best practices and establish AI governance committees to avoid non-compliance penalties.
- AI governance committees can help companies anticipate and address potential risks, including issues related to confidential information, personal data and privacy, customer data, and contractual obligations.
- Despite potential risks, companies are implementing generative AI tools for their potential benefits, and establishing AI governance committees can help build public trust in AI systems and the companies that use them.