AI Governance: How to Make Worth It?

  • 1st Jun'21
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AI Governance

Governance is something that includes all processes of governing. It is the way rules or actions are structured, maintained, and regulated – and often how accountability is assigned.

AI governance is the idea that there should be a legal framework for ensuring that machine learning (ML) technologies are well researched and developed to help humanity navigate the adoption of AI systems fairly. Dealing with issues surrounding the right to be informed and violations that may occur, AI governance aims to close the gap that exists between accountability and ethics in technological advancement. 

The major milestone in the field of AI was marked when Alan Turing (1912–1954) introduced Turing Machine (1937), an ideal intelligent computer model developing an automata theory.

Benefits of using AI

 

Benefits of using AI

Artificial intelligence (AI) makes it possible for machines to learn from experience, adjust to new inputs, and perform human-like tasks. By the use of such technologies, computers can be trained to accomplish specific tasks by processing large amounts of data and recognizing patterns in the data.

The use of AI in government comes with significant benefits, including efficiencies resulting in cost savings, for instance by reducing the number of front office staff, and reducing the opportunities for corruption. AI systems can execute tasks naturally associated with human intelligence, like speech recognition, decision-making, visual perception, and translating languages. Artificial Intelligence can provide humans with great relief from doing various repetitive tasks. The technology can learn the work once and repeat it as much as desired by its human programmer. Automation of different tasks reduces the workload from dull and repetitive tasks, but we can not ignore that there is risk involved in it also.

Matthew Emerick, who is a senior consultant at Accenture said, "Adding AI governance to the process does add a layer of complexity that is not always needed”. “If AI is not a prominent part of a business, then a simple set of guidelines can allow the development team to stay agile while using best practices. On the other hand, if the business is planning on using AI in multiple areas, then an AI Center of Excellence might be recommended to centralize all AI efforts for consistency and completeness.”

How Artificial Intelligence Has Brought A Turnover In Recruitment Process

AI can play a task in HR strategy, worker management, analysis of company policies and practices, manage payrolls, and more. To know more, click here:

 

How is AI worth it?

AI can be used in the following things/ fields/ areas:

1. Virtual Assistant or Chatbots

Some of the major examples of virtual assistance are Alexa, Siri, and Google Assistance while automated bots answering the questions of customers are the example of AI-based chatbots working with the best performance. Chatbots can transform your business with multiple benefits keeping the client-customer relationship more intact.

Virtual Assistant or Chatbots

 

2. Agriculture and Farming

AI-based drones and autonomous tractors monitoring are used to enhance the productivity and crop yield of farmlands. Robots and automated machines are also used in these fields to monitor crop health conditions and harvesting. In agriculture, new AI advancements show improvements in gaining yield and increasing the research and development of growing crops.

AI Agriculture and Farming

 

3. Manufacturing and Production

With the introduction of AI, robots have become common in many industries and are often given jobs that are considered dangerous to humans. Robots have proven effective in jobs that are very repetitive which may lead to mistakes or accidents due to a lapse in concentration and other jobs that humans may find degrading.

 

4. Healthcare and Medical Imaging Analysis

AI in the healthcare sector is playing a vital role in empowering the machines to diagnose, analyze, and predict the various types of diseases, and monitor the patient’s health conditions.

For example, Pager uses artificial intelligence to help patients with minor aches, pains, and illnesses. The Pager app allows any user to chat with a nurse via text 24/7, talk to a doctor via video chat, and have prescriptions filled as needed.

 

5. Marketing and advertising

It is possible to use AI to predict or generalize the behavior of customers from their digital footprints to target them with personalized promotions or build customer personas automatically. A documented case reports that online gambling companies were using AI to improve customer targeting.

It can be further used for autonomous flying, retail, shopping and fashion, security and surveillance, sports analytics and activities as well as assist the public to interact with the government (through the use of virtual assistants.)

To know the uses and applications of AI and ML in business, click here:

 

Contributor: Jyotsana Rani

Jyotsana is very keen to express her views on new topics and wants readers to remember her through her writing. She is passionate about reading and believes that words wield the power of changing the scenario and she uses them to encourage people to the best of her knowledge.

 

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Sources/References:

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About the author:

Neda Ali (Editor), OpenGrowth Content Team

The Editorial Team at OpenGrowth is working to provide you with the perfect place to know everything about startups. Feel free to connect to us.


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