While a great deal of attention is currently being focused on internal compliance with emerging AI regulations, Prevalent’s Alastair Parr argues that companies shouldn’t overlook a major external consideration: third parties.
Artificial intelligence (AI) is rapidly reshaping the modern world, and governments are rushing to build safeguards to ensure it is deployed responsibly. The rapid growth of technology has also led businesses in nearly every industry vertical to embrace AI, as it offers productivity and efficiency gains, with the ultimate goal of enhancing their bottom line.
However, alongside these opportunities come significant responsibilities for companies to deploy AI ethically and within the bounds of the law. This responsibility should extend not only to their own practices but also to those of all third parties they engage with, including vendors and service providers.
Navigating the many moving parts that come with safe and responsible AI deployment will be particularly challenging for companies based in regions at the forefront of AI regulation, including the U.S., Canada, the EU and the UK.
These regions are developing unique frameworks to regulate this fast-moving technology. Understanding and complying with these regulations will be critical for businesses operating in these…
