Gunjan Sinha, Chairman of MetricStream, a market leader in Governance, Risk, and Compliance (GRC), talks about the rise of AI in business, AI4GRC, and many more in a video interview with Indiaai.
AI governance is the idea that there should be a legal framework for ensuring that machine learning (ML) technologies would well be researched and developed to help humanity and navigate the adoption of AI systems relatively.
Best known as a founder of WhoWhere, an internet search engine – which was the fourth most popular site after AOL, Yahoo, and MSN, which he sold to Lycos in 1998, Gunjan Sinha is an Indian-American entrepreneur and business executive. He is the Executive Chairman of MetricStream and is also the co-founder of customer engagement software provider eGain Corporation. He has served on the board of numerous Silicon Valley startups, including Regalix, OpenGrowth, DesignEverest.
He joined MetricStream in 2003 as executive chairman, where his main job is to develop and lead the firm's overall strategy and execution. Sharing his 17 years experience, he says that there has been a drastic change in GRC, and it has shifted from a reactive to a proactive need. Especially after the 2008 subprime crisis that led to the fall of Lehmann Brothers.
Talking about the rise of AI in business, he believes that the future organization will be built on five pillars – a sense of purpose, diversity, and inclusion, empowerment of the first line, ethical data, and socially conscious AI. MetricStream is currently building a suite of products and solutions that bring intelligence to their existing GRC platforms, powered by a dynamic application of machine learning algorithms to provide recommendations, anticipate threats and intuitively lead organizations to smarter decisions.
AI4GRC: Thinking Ahead of Challenges
The company's collective goal is AI4GRC, which is championing the use and deployment of responsible AI across its customer suite. In December 2019, MetricStream partnership with the AI Sustainability Center, a global leader in sustainable and ethical as benefits of artificial intelligence (AI), cannot be fully realized until the ethical and societal risks of AI are also brought into the equation and appropriately addressed. This tool will be a preventive step to control negative consequences arising from the misuse or overuse of technologies.
Social Impact Initiative
Gunjan Sinha has also been the chairman of OpenGrowth, a venture incubation and holding company helping entrepreneurial teams build lasting companies. OpenGrowth.org has numerous social impact initiatives like mPrivacy.org, CFHI.org, and AISquare.org. mPrivacy.org brings all the telcos and mobile operators together to support a common standard for ethical data exchange.
CFHI.org brings transformative healthcare education to under-served communities worldwide while AISquare.org is aggregating researchers, research, and science communities to solve society's most complex challenges emerging out of the COVID-19 pandemic.
AI is a privilege for the billions who need it the most. AI can lead to incremental improvements in the food supply, agriculture patterns, clinical research and drug development, healthcare delivery, and many more.
As AI continues to transform businesses, Sinha believes this growth has to take place concurrently with ethical implications, and this needs to be perpetuated by a new crop of business leaders who have to think of "the bigger picture."
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