Tag Archive for: cost

Don’t Rush to AI and ML Without a Governance Framework

Don’t Rush to AI and ML Without a Governance Framework

Insights

Don’t Rush to AI and ML Without a Governance Framework

Security Current

Don’t Rush to AI and ML Without a Governance Framework October 26, 2023


By David Cass

The rapid adoption of artificial intelligence and machine learning yields tremendous benefits. But as with any transformational technology that can affect human lives and societal structures, there are attendant governance challenges.

Effective governance of AI and ML requires a blueprint to ensure these technologies are used safely, ethically, and responsibly. Understanding the risks associated with these technologies, such as biases, potential misuse, and privacy concerns, is essential. A governance framework will help ensure our organizations have transparency and accountability in their implementation of AI and ML, and they promote the responsible use of these technologies to avoid misuse or unintended consequences.

Having a framework also helps to build trust among the general public and the organization’s stakeholders regarding the deployment of AI and ML. You need to have a standard against which you will be measured.

Key components you need for an effective AI/ML governance framework include:

Clear objectives. There should be well-defined goals and principles to ensure that any AI or ML introduced is fair, reduces bias, and adheres to the ethical principles you define.

* Clearly defined roles and responsibilities. You want to make sure that you delineate the roles and responsibilities of those involved in developing, deploying, monitoring, and testing AI models.

* Data management. Guidelines on data collection have to be clearly spelled out. What data are being collected? How are data being stored? How are data being processed? How are they being used?

*Implementing transparency. How do you document the processes? How do you document the algorithms and the data sources that are used? This will help you explain the model and potentially explain decisions it may make if you’re called before a board of directors, congressional committee, or some other regulatory or governing body.  You need to be able to reconstruct what happened, not just from a regulatory point of view, but to ensure there’s nothing wrong with the model.

To read the full article, go to Security Current

 

Ethical Principles Must Undergird AI

Ethical Principles Must Undergird AI

Insights

Ethical Principles Must Undergird AI

Security Current

Ethical Principles Must Undergird AI

November 1, 2023

 

By David Cass

Artificial intelligence needs to be deployed in a way that benefits humanity. That requires looking beyond the short-term model to long-term use and AI’s widescale impact on the broader society.

As the use of artificial intelligence and machine learning grows, so, too, will the deployment of automated decision-making systems that could greatly impact well-being, privacy, and livelihood. Organizations must, therefore, develop ethical principles to guide the design, development, and deployment of AI and ML systems to ensure that the power of these technologies is used responsibly.

This is a two-stage process. Stage one is developing the principles. Stage two defines the various core AI ethics principles that will guide the organization.

When developing the principles, the first step is to get multidisciplinary input from a mixed community of ethicists, technologists, legal experts, and sociologists. Representatives of affected communities — for example, health care or finance — also have to be involved to guarantee there’s a comprehensive understanding of the potential implications for its use.

The second step would be a broader public consultation if it’s an AI or ML model that impacts society at large. Public consultations, such as a town hall, can offer insights from ordinary citizens who might be affected while helping to foster trust in the use of AI and ML.

Regularly reviewing ethical principles is critical because AI is evolving so quickly, and they need to remain relevant.

It’s also important to put a feedback mechanism in place to ensure that the AI developers, users, and affected individuals can provide observations and critiques on the AI systems and their implications once they’re deployed. It’s important to know whether the system is working as expected.

To read the full article, go to Security Current

 

Cutting Costs, Not Corners: The Impact of Artificial Intelligence & Machine Learning on Attorneys and Clients Alike

Cutting Costs, Not Corners: The Impact of Artificial Intelligence & Machine Learning on Attorneys and Clients Alike

Insights

AI and ML

Daily Journal

We stand on the brink of a transformative era. The legal sector, traditionally resistant to change, is now embracing a powerful ally – artificial intelligence (AI). With its impressive ability to automate tasks, assist in case analysis, and deliver substantial cost savings, AI is proving beneficial for attorneys, their clients, and parties without legal representation.  

The term ‘AI’ might conjure visions of sci-fi movies and complex techno-babble. However, in reality, its principle is straightforward—emulating human intelligence in machines programmed to learn and problem-solve. For the legal field, this means saving time and money, making services accessible to many more people. 

The Legal Profession’s Silent Partner 

To understand the potential of AI in legal practice, we need to decode its role in everyday legal work. Time is a valuable commodity for lawyers. Lawyers spend most of their time not in dramatic courtroom showdowns, but in meticulous document review – reading, interpreting, cross-referencing. 

Now imagine an AI-powered software tool capable of comprehending and analyzing these documents at an incredible pace. The prospect is tantalizing for lawyers, offering unparalleled speed and accuracy. These programs can sift through thousands of pages of legal text, identifying relevant information and drawing connections faster than any human. With AI handling these mundane tasks, attorneys can redirect their energy and time to other crucial aspects of their cases. 

A Strategic Advantage for Legal Firms 

For law firms, the benefits of AI go beyond mere time savings. Incorporating AI into daily operations is a strategic move, allowing firms to differentiate themselves from competitors.

To read the full article, go to Daily Journal