Implement the right guardrails to help AI yield its potential.
Generative AI showcased the tremendous value of AI, but measures should be in place to ensure effective implementation during the AI revolution.
Organizations are taking the lead on AI governance, but emphasis should also be on addressing and mitigating potential security and privacy risks.
In last year’s Future of IT 2024 Survey, we found that over 40% of organizations did not have any AI governance in place, even though 65% were planning to leverage the technology by 2024. Many organizations had or were developing a strategy to implement their AI initiatives, but the lack of AI governance posed several potential risks, such as a lack of accountability, fairness and bias detection in the AI models, and the validity and reliability of the technology.
Hence, establishing an AI governance as part of an organization’s AI strategy roadmap was a critical priority in our Security Priorities 2024 report. Fast-forward to this year, and it is evident many organizations placed establishing responsible AI guiding principles as a priority. Our Future of IT 2025 Survey found over 85% of organizations had established AI governance practices, including assigning accountability for who is responsible to oversee and govern the use of AI responsibly.
With over 40% of C-suite executives being responsible for leading the AI governance practice, including over 30% of CIOs, it’s evident that IT leaders are at the forefront in mandating how organizations will responsibly deliver the strategic value of AI technologies. From developing policies for the appropriate use of data and AI models to designing an AI governance operating model, having a governed foundation will support the organization’s AI transformation and ensure strategic alignment is in place.
It has been two years since OpenAI’s ChatGPT took the world by storm with its generative AI technology. It enabled creativity and innovative ideas to come to fruition through prompts and was the inspiration for the rapid development of other generative AI systems that followed. Although various other AI technologies emerged, it was the value proposition of generative AI that enticed organizations to adopt the technology at a fast pace.
In fact, the adoption rate of generative AI had a faster pace in its first two years (39.5%) than the PC after three years and internet after two years (both about 20%) (Federal Reserve Bank of St. Louis, 2024). This aligns with the findings from our Future of IT 2025 Survey, which found that over 70% of respondents indicated they have made an investment or are planning to invest in generative AI in 2025.
Looking for more exclusive insights and articles? Sign-up for our newsletter to recieve updates and resources curated just for you.