1. Rubrik has set up an AI governance committee to evaluate legal, security, and business risks associated with using generative AI tools.
2. Growing regulatory scrutiny, such as the EU AI Act, is pushing companies to establish AI governance committees as a compliance measure.
3. Companies like Rubrik are balancing the use of generative AI tools to seize opportunities while also addressing potential risks to build trust with the public.
Rubrik, a data management company, has set up an AI governance committee to oversee the implementation of AI tools in its business. This committee consists of managers from various departments who will evaluate legal, security, and business risks associated with using generative AI tools. With growing regulatory scrutiny, companies like Rubrik are taking steps to ensure compliance with laws such as the EU AI Act.
The EU AI Act is the world’s first comprehensive AI law, imposing strict rules on AI usage and governance to reduce risks associated with bias and discrimination. Companies operating in Europe may face significant penalties for non-compliance, while those outside the EU may still be subject to the law if they engage in AI-related activities involving EU users or data. AI governance committees are seen as crucial for addressing risks and compliance gaps.
Aside from regulatory requirements, companies like Rubrik are setting up AI governance committees to address various risks associated with AI use. These risks include issues related to confidential information, personal data, privacy, customer data, contractual obligations, intellectual property rights, transparency, output accuracy, and security. Establishing AI governance committees can help companies anticipate and mitigate these risks.
Companies are also implementing AI tools despite potential risks, like data hallucinations, to take advantage of new opportunities. Balancing the benefits and risks of AI implementation will be crucial for companies seeking to boost their valuations while maintaining trust with the public. Establishing AI governance committees can be an important step in building trust and ensuring responsible AI use.