AI Governance Frameworks Essential To Ensure Accountability and Manage Risks: CII

New Delhi: Amid the rising businesses using artificial intelligence or AI in the country, leading industry body Confederation of Indian Industry (CII) on Sunday emphasised that adopting robust AI governance frameworks is essential to ensure accountability and manage potential risks associated with AI.

AI governance refers to the framework, policies, practices, and standards that guide the ethical, responsible, and accountable use of AI within organisations. “The responsible AI use not only mitigates adverse impacts but also builds trust among stakeholders,” the CII said in its latest ‘guidebook on AI adoption’.

The CII also said AI requires careful governance to fully harness its potential while mitigating the risks and challenges it presents, stating that the guidebook aims to serve as an effective tool for the board of directors to navigate the intricate landscape of AI governance and drive better business outcomes.

The industry body also encompasses basic concepts related to AI, its use in various business functions, criticality of AI governance and its framework, risks and challenges and its governance and liabilities of directors associated with deployment of AI in businesses.

“This balanced approach is crucial for sustainable, ethical AI adoption in business contexts. It aims to serve as a valuable tool for Boards as it suggests effective and practically feasible steps for creating a structured framework for governance and responsible use of AI in businesses,” the CII said.

The CII also further emphasises on the criticality of establishing and upholding clear and enduring values for maintaining accountability in use of AI within business operations. “The document delves into the multifaceted benefits of AI governance, including cost reduction, enhanced efficiency, and building trust with stakeholders,” it said.

At the same time, the CII also underscores the importance of ethical guidelines, risk management protocols, and regular audits to minimise potential risks and to ensure responsible use of AI, highlighting the importance of promoting interdisciplinary collaboration between AI experts, legal advisors, and business leaders.