The concept of automation, including adopting Machine Learning and Natural Language Processing tools, has many benefits for business enterprises. But it presents several challenges like regulation, social responsibility and reputation.
Many international organisations call for robust internal governance using automation tools, like the Data Governance Act and Artificial Intelligence Regulation proposed by the European Union.
Internal governance defines the organisational and technical solutions within the company.
Responsible CEOs will think about internal governance as extra insurance, not cost.
It includes the fashion and rules used for reports, audits, control and data governance. The complexity of these rules depends on the company's size and scope of activity.
It is the "proportionality rule".
Every institution using data as a source of information for its services and products must report its operations. Reports will ensure you address every potential problem. It will also be necessary for implementing automation tools.
Feedback is a critical factor of success in AI.
Companies that wish to adopt automated tools should have at least:
A risk management system aligned to the profile of their business.
Record-keeping policies and procedures – for own purpose and external controls and audits.
Human oversight procedures ensure the identification and removal of any potential error.
Processes for creating and archiving documentation.
Specific guidelines for incident reporting and security breaches.
Strategy for the adoption of ICT tools.
Why is it important?
We live in a digital world with many incentives for fraud. Many cyber-fraudsters are looking for opportunities and easy profit. Using models and algorithms may put your organisation at risk for security breaches or data poisoning. Regulators and supervisors pay particular attention to robustness and cybersecurity.
Effective internal management should give you more comfort and save you time, money and stress.