Evolving AI Laws and the Imperative to Build Safe, Compliant, and Risk-proof AI

Artificial Intelligence (AI) has come a long way in its evolutionary journey worldwide. In October 2022, the US released its ‘Blueprint for an AI Bill of Rights’ which outlines principles for businesses and developers regarding the equitable use and access of AI systems. For AI-led companies, it is now crucial to be in the know of recent regulations to realign AI systems, and overcome unwanted inequities and harmful biases; so as to meet the criteria for trustworthiness and achieve Responsible AI (RAI). There are five guiding principles in the blueprint which guide the design, usage, and implementation of autonomous systems. They aim to create a meaningful impact on rights, opportunities, or access to critical resources and services; ensure the data privacy of the impacted user as well as establish safe, effective, and algorithmic discrimination-free systems. Furthermore, human intervention for adverse or high-risk decisions is advised by charting a pathway for developers and deployers to leverage AI explainability. However, despite the heightened bar around AI adoption, C-level executives and AI experts are still far behind when it comes to enforcing RAI. According to the MIT Sloan Management Review, 79% of companies said their RAI implementations were limited in scale and scope. Join this session as Censius experts discuss how new AI regulations encourage bridging the gap toward Responsible AI. Learn the five principles laid down by the US’ AI Bill of Rights and find out how to become more admissible as per the new regulations. Discover how modern AI monitoring, explainability, compliance, and model fairness tools can help risk-proof and build market-friendly solutions to yield tangible business results. Key Takeaways: ● Imperatives of the US AI Bill of Rights for technology leaders and practitioners ● Best practices to become more admissible to the five principles in the governance of AI ● Keys to building Responsible AI with monitoring, explainability, fairness, and compliance tools to minimize risk