In recent years, a number of international organisations, regulators, governments, academics, and as well businesses have worked on developing principles of Artificial Intelligence (AI).
Alongside the development of these principles, there is an on-going discussion on how to regulate AI in order to best align risk management with optimising potential value creation of these technologies. Risk managing AI systems will likely become a regulatory and social expectations requirement, for all sectors and for both business and government.
Basic principles of artificial intelligence
However emphasis on how to implement the proposed AI principles and upcoming regulations in practice is more recent, and appropriate tools to achieve this still need to be identified and developed. For example, implementing so-called Responsible AI requires the development of new processes, frameworks and tools, among others. We review the current state and identify possible gaps.
Boza, Pal and Evgeniou, Theodoros, Implementing Ai Principles: Frameworks, Processes, and Tools (February 10, 2021). INSEAD Working Paper No. 2021/04/DSC/TOM, Available at SSRN.
By: Pal Boza and Theodoros Evgeniou