US AI Assurance Leader at PwC, Jenn Kosar, explains that six months ago many companies were ready to make use of AI but now is the time to make them aware of all the potential risks and responsibilities one need to see before adopting generative AI. Many gen AI Pilot Projects are informing companies about AI adoption and how they can use AI that works best for their teams and workplaces.
Recently, Elon Musk has announced a new image generation service through its Grok-2 model which appears to have no restrictions. This is going to allow users to create any controversial or problematic content including violence, deep fakes and criminal stuff. The model has no filters and can generate any type of image the user wants it to create.
The survey by PwC asks the respondents what are the top ten capabilities they want their organizations to have. Data Privacy, Model Management, Periodic Training, Upskilling, Specialized Software for AI Risk Management, Data Governance, Getting Embedded AI Risk Specialists, Monitoring and Auditing, Cyber security, Third-Party Risk Management and Model Testing were the top answers which were recorded. 80% of the companies reported that they are implementing these capabilities while 11% claimed that they have already implemented all of these capabilities in their companies. The survey found that AI implementation is being a little tricky for some organizations.
The companies who are undergoing AI implementation should make responsible AI strategies. Jenn Kosar says that companies should ensure ownership and accountability for responsible AI use by hiring a responsible AI leader or chief AI officer. AI should also be value creative for organizations as it is adding commercial value to many organizations.
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