More than ever, artificial intelligence (AI) is being implemented as a powerful tool to improve our lives and businesses. Recent updates to DOJ’s Evaluation of Corporate Compliance Programs warn compliance officers that they must be aware of the risks associated with AI and develop effective compliance programs to mitigate them.
The DLPiper article describes multiple AI risks before offering useful guidance on enhancing compliance and oversight programs to understand, monitor, and evaluate risks associated with this emerging technology. Of note is their recommendation that the compliance function understand and review use cases for proposed AI initiatives. These reviews would be similar to GDPR-type Data Protection Impact Assessments (DPIAs) in which risks, mitigation measures, and monitoring efforts are identified before being approved. Ultimately, organizations are encouraged to develop policies, procedures, training, and oversight to manage AI risk – and to demonstrate to clients/donors your responsible management of this powerful tool.
Read the DLA Piper article here.