Through the insights of a survey of 500 US-based C-level executives who self-identified as part of the decision-making team responsible for their organization’s adoption, use and management of AI-enabled tools, three main gaps have been identified. This survey was conducted by Baker McKenzie in collaboration with Coleman Parkes.
Regulatory and enforcement agencies in the US are increasingly taking a closer look at AI and its potential for bias and other harms, but a new Baker McKenzie study has found many in the C-Suite are overconfident in assessing AI threats. Meanwhile, critical blind spots exist in HR and hiring tools oversight. Examine three key challenges and how to address them.
What our partners have to say
On the need for AI risk mitigation
There is an extraordinary amount of potential downside risk in using AI algorithms for people management functions, and a clear disconnect in developing and managing HR-specific, AI-enabled applications. Given the increase in state legislation and regulatory enforcement, companies need to step up their game when it comes to AI oversight and governance to ensure their AI is ethical and protect themselves from liability by managing their exposure to risk accordingly.
- Bradford Newman, Partner, Palo Alto
On the need for CAIOs
Today’s companies have a lot to learn about the risks associated with using AI, but we know that CAIOs will play a critical role, regardless of industry, in the years to come. The CAIO’s oversight should span technology and functional departments, ensuring that the organization has a holistic view of the AI risks inherent to the technology they are using.
- Pamela Church, North America Chair of Intellectual Property & Technology, New York
On the need for HR and legal oversight
It’s not surprising that chief technologists play a significant role in a company’s AI oversight, what is concerning is the lack of involvement by other key stakeholders — especially the legal and human resource functions,” said “Senior HR executives have a deep understanding of how bias can adversely impact a workforce and together with their colleagues in legal, should have a bigger role in the development and oversight of the AI tools their companies use.
- George Avraam, North America Chair of Employment and Compensation, Toronto