The what, why and how of AI governance in 2024

Gartner research VP analyst Svetlana Sicular defines AI governance as creating policies, assigning decision rights, and ensuring organisational accountability for risks and decisions for the application and use of artificial intelligence techniques.

Gartner cautions that lacking AI governance increases costs and can lead to failed initiatives.

The gravity of the issue is evident in a Gartner survey, which revealed that 55% of respondents say their organisation has not yet implemented an AI governance framework, but most (40%) have started developing one.

Among those that do, 46% of respondents say their organisation has implemented an AI governance framework, either as a dedicated framework (12%) or as an extension of other governance frameworks (34%).

Tanya Pandey provides her views on how AI governance is essential and need of the hour.

You can read her views here.