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Creating or procuring responsible AI tools requires a strategic approach to compliance. Businesses must navigate proprietary data usage and the associated risks while aiming for efficiency and competitive advantage. A hypothetical journey illustrates how a global consulting firm can develop an AI tool for generating RFP responses, emphasizing the importance of a compliance roadmap.
The article outlines essential steps for organizations to establish a governance framework for AI solutions. It highlights the need for interdepartmental collaboration, risk management, and adherence to evolving regulations like the EU AI Act and NIST's AI framework. By focusing on internal data and external technology, firms can effectively manage compliance while leveraging AI's potential.
• AI solutions require careful compliance planning and risk management.
• Interdepartmental collaboration is crucial for successful AI implementation.
The article discusses generative AI's application in creating RFP responses, showcasing its potential in business processes.
The article emphasizes the importance of such frameworks in ensuring compliance with emerging regulations.
The article highlights its adoption by businesses to navigate compliance requirements effectively.
The firm plays a pivotal role in advising clients on navigating the complexities of AI regulations and governance.
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