Tag: Governance

Summary of article from Guidepost Solutions LLC, by Kenneth Mendelson:

As AI technology rapidly advances, organizations must prioritize AI governance to ensure responsible and compliant use. Compliance involves adhering to global, federal, and state regulations, including new laws focused on AI use. Organizations should integrate AI considerations into their existing governance, risk-management, and compliance programs, conducting comprehensive AI risk assessments, updating policies and procedures, ensuring data privacy and security, and monitoring regulatory developments. It is also recommended to establish an AI Steering Committee to oversee AI governance efforts, including transparency, explainability, and ethical considerations. Documenting all AI governance and procedural efforts is crucial for demonstrating due diligence and responsible AI practice.

Summary of article from Forbes, by Brian Fugere:

The application of AI and machine learning in healthcare is transforming not only clinical areas but also operational and workforce management, with the global healthcare AI market projected to reach $427.5 billion by 2032. AI/ML can address pressing challenges in healthcare, such as complex workflows and administrative tasks, which currently consume 60%-80% of healthcare professionals’ time and contribute to workforce shortages. Learning from other industries, healthcare can implement AI/ML to optimize workflows, automate tasks, and improve operational efficiency. However, unique challenges in healthcare, including strict regulations and complex decision-making processes, necessitate careful consideration when adopting these technologies. By strategically and responsibly harnessing AI/ML, healthcare organizations can innovate and improve operations, leading to enhanced patient outcomes and a more efficient healthcare ecosystem.

Summary of article from Forbes, by Andrei Kasyanau:

Artificial intelligence (AI) is transforming healthcare, necessitating the role of a Chief AI Officer (CAIO) to guide AI strategy and implementation, foster AI innovation, ensure ethical AI use, and build AI talent and partnerships. The CAIO is pivotal in identifying high-value AI opportunities, driving AI adoption, and overseeing the ethical deployment of AI systems. They also play a crucial part in building a strong AI talent pipeline and fostering strategic partnerships. Real-life cases from Mayo Clinic, GE Healthcare, and Elevance Health demonstrate the positive impact of a CAIO in healthcare organizations. The need for a CAIO becomes apparent when organizations face multiple AI initiatives, challenges in scaling AI solutions, concerns about AI ethics, and a need for dedicated AI talent and partnerships.