Regulation: Regulating its use in the workplace, ensuring governance is in place and that its use complies with the firms data & privacy policy. AI is likely to become regulated in the future (calls for this from high profile individuals and on 29 March 2023, the UK Govt released their White Paper ‘A pro-innovation approach to AI regulation’)
Bias: Looking out for bias and inaccuracies when using AI and automated systems; how will that impact your business and the advice you provide to customers and clients; using the recent example of a lawyer who used ChatGPT in a court case, his court filing cited case law that did not exist. The correctness of automated content should always be verified to avoid future litigation.
Wrongdoing / Fraud / Fraud Prevention: Cybersecurity and fraud risk is presented by new technologies; AI brings new forms of fraud and scams or ways in which wrongdoing could be committed; the use of AI to create deepfakes or more sophisticated/complex scams is concerning; alternatively, AI may be used to detect and investigate crime/wrongdoing.
Wrongdoing / Fraud / Fraud Prevention: Cybersecurity and fraud risk is presented by new technologies; AI brings new forms of fraud and scams or ways in which wrongdoing could be committed; the use of AI to create deepfakes or more sophisticated/complex scams is concerning; alternatively, AI may be used to detect and investigate crime/wrongdoing.
