Expert Panel: The Business Case for Preparing for AI Regulation
Guardrails for safe and impactful use and implementation of AI are of paramount importance to realize the benefits of AI for society. While some companies are looking to embrace AI in their organizations, others are waiting to see the regulatory requirements before fully harnessing the power of AI for their business.
With NY City's Automated Employment Decision Tools Law coming into force on January 1, 2023, this regulation is a bellwether for the oversight of AI systems. With many similar objectives like independent audits, transparency, and notification requirements, draft AI regulations have been tabled globally, including the EU AI Act, Canada's AI and Data Act, and the Algorithmic Accountability Act in the US.
Implicating both those using and selling AI, organizations are now considering what needs to be in place to be compliant and anticipating the work to be done. Similar to data protection regulations, AI regulations will have a far reaching impact and will take some time to implement.
Whether you are an AI vendor, or a company who is building AI to improve your service delivery, now is the time to proactively prepare. Getting ahead of the regulatory requirements will save you time, money, and stress.
Join a conversation with cross-functional experts in the space to discuss what the regulation landscape looks like, how organizations can prepare, and the immediate considerations for the NYC regulation.