Expert Advocates Regulatory Compliance In AI Corporate Governance

An Artificial Intelligence (AI) expert, Olajide Olugbade, has charged backstage and nationalist organisations to support effectual firm governance systems successful compliance with regulatory requirements.

Olugbade, who was a governance, risk, and compliance advisor with PricewaterhouseCoopers (PwC) Nigeria, stated this astatine the 49th yearly league of the Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN), precocious held successful Lagos.

Delivering the keynote code connected the theme: “Reimagining Governance: Navigating the Artificial Intelligence Revolution for Excellence,” Olugbade said, “AI governance is not conscionable different fad oregon buzzword; it is simply a important facet of exertion governance that indispensable beryllium embedded wrong the firm governance structures of organisations if they are to past the disruption that AI systems are causing crossed sectors. It has besides go a necessity for the capable absorption of the ethical and societal implications of AI systems.

“However, close implementation is important. Organisations should not conscionable leap connected the bandwagon of AI governance; they person to bash it right,” helium stated.

He added, “Participants astatine the ICSAN league person identified important elements of the implementation process, specified arsenic accountability mechanisms, including committee oversight of AI governance. But determination is simply a hazard that this tin each beryllium done arsenic an organizational makeover without existent impact”.

He noted that organisations prosecute successful what helium called morals washing, advertizing the constitution of morals offices arsenic a means of ethical governance, “in this lawsuit of AI systems, which are simply symbolic but bash not really person the powerfulness to guarantee liable innovation practices successful the organisation. Nigerian organisations indispensable steer wide of this successful their implementation of AI governance.”

The AI adept added that AI governance indispensable person organisational power, which helium identified arsenic consisting of the quality to assistance the organisation header efficaciously with uncertainty successful its environment, not easy substitutable, and cardinal to the organisational processes, saying, “only by ensuring this volition organisations reap the gains of AI governance.”

Similarly, the Group Executive Director of Chams Holding Company, Femi Oyenuga, stressed that AI should beryllium seen arsenic a governance inflection constituent requiring urgent systemic oversight.

For his part, the President and Chairman of the ICSAN Council, Uto Ukpanah, besides spoke of the Institute’s plans to equip members, pb discussions connected AI governance successful Nigeria, and advocator for the updating of committee charters to see AI governance responsibilities.