Forbes Column: Navigating The Storm: AI Regulation And The Future Of Business
In his latest Forbes column, Delve CEO Jeff Berkowitz warns AI tools are filled with potential but also fraught with political, legal and reputational challenges business must consider before adopting or building AI. To understand what those challenges mean for you, read the excerpt below, then head to Forbes.com to read the full article.
Artificial intelligence is here, and it is transforming the world in ways we are only beginning to grasp. As businesses incorporate generative AI into their operations, many will find themselves in an uncharted frontier—a landscape filled with potential but also fraught with political, legal and reputational challenges.
AI’s rapid evolution has drawn the attention of Congress, foreign governments and the European Union regarding concerns about AI advancing at such a pace that they can’t keep up. This can leave businesses that rely on AI in a potentially precarious position.
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As someone who helps companies navigate risks, I believe that while regulators might try to narrowly regulate the technology, the rush to regulate could stifle the opportunity for AI to boost productivity. Yet, in the absence of defined rules and guardrails, businesses must make complicated ethical, privacy and other contentious decisions on their own.
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AI’s capabilities will permeate every sector—law, healthcare, financial services, law enforcement, energy and beyond. Companies must keep pace or risk being left behind.
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This reality presents a challenge for businesses unaccustomed to navigating complex policy environments, as the rise of AI could lead to governmental and consumer ripple effects that, like many other areas of technology regulation, vary greatly from jurisdiction to jurisdiction. Businesses will have to stay abreast of this patchwork of legislative and regulatory changes and the evolving public attitudes that vary by culture and region.
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Whether your business is building its own AI-enabled tools or leveraging newly available tools built by others, you will need the ability to communicate what AI is and is not to all of your stakeholders, as well as the government entities that can impact your firm.
For businesses, the choice should not be between avoiding AI and risk falling behind or incorporating AI into core processes and face potentially immense political, legal and reputational scrutiny. Instead, businesses must fully understand what is driving this scrutiny and how your firm’s stakeholders—employees, customers, communities, investors and beyond—are likely to respond. This understanding will empower businesses to navigate this complex landscape, manage risks and fully capitalize on the opportunities presented in this rapidly evolving AI era.
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Continue reading at Forbes.com and find out how to understand the political, legal, and reputational risks businesses must navigate as they adopt AI.