Artificial intelligence (AI) has the potential to unlock transformative economic, social and environmental opportunities for Australia. The potential for public benefit is significant, provided the development, adoption and use of AI is governed in a safe, responsible and sustainable manner. Governing AI in this way underpins community trust and stakeholder support and works to retain a social license. Importantly, good governance of AI also increases the likelihood that organisations will implement and scale up AI effectively and successfully. In other words, good governance creates a virtuous cycle whereby support for the widespread investment in and adoption of AI is maintained, and the transformative benefits of AI are more likely to be realised both at a business and societal level.

Are your AI Algorithms locked down and safe? In my prior Forbes blogs, the business imperative for Board Directors and CEOs to advance their governance practices to lead forward with AI was framed. This blog shares the insights from a recent interview with Cathy Cobey, the EY global trusted AI leader, where we explore: how practicing responsible AI is stacking up, the impact of data bias and key board director questions to ensure CEO's are managing the new risks that AI presents. One of the key insights Cathy shared is that from all of her global client interactions to date, she has yet to find any organization, large or small, which has a robust inventory management process to easily identify or inventorize their AI models. This also mirrors my global research that Board Directors and CEO's don't know where their AI algorithms are.

Are your AI Algorithms locked down and safe? In my prior Forbes blogs, the business imperative for Board Directors and CEOs to advance their governance practices to lead forward with AI was framed. This blog shared the insights from a recent interview with Cathy Cobey, the EY global trusted AI leader, where we explore: how practicing responsible AI is stacking up, the impact of data bias and key board director questions to ensure CEO's are managing the new risks that AI presents. One of the key insights Cathy shared is that from all of her global client interactions to date, she has yet to find any organization, large or small, which has a robust inventory management process to easily identify or source their AI models. This also mirrors my global research that Board Directors and CEO's don't know where their AI algorithms are.

As governments, businesses, organisations and workers figure out how to operate in the new normal brought on by COVID-19, technology, big data, and artificial intelligence are playing an important role. Some governments are deploying contact-tracing technologies, including app-based tracking and facial recognition, to identify those who may be at risk of infection and to keep others at a distance.1 To increase workplace safety and create a sense of security among staff, many organisations may follow the lead of those governments and launch contact-tracing capabilities in the office. Technologies that protect workplace safety will be instrumental in helping employees feel secure enough to go back to the office -- and back to a semblance of normalcy. According to PwC's CFO Pulse, 41 percent of surveyed chief financial officers consider the pandemic's effects on their workforce to be a top-three concern.

As governments, businesses and organizations, and workers figure out how to operate in the new normal brought on by COVID-19, technology, big data, and artificial intelligence are playing an important role. Some governments are deploying contact-tracing technologies, including app-based tracking and facial recognition, to identify those who may be at risk of infection and to keep others at a distance. To increase workplace safety and create a sense of security among staff, many organizations may follow the lead of those governments and launch contact-tracing capabilities in the office. Technologies that protect workplace safety will be instrumental in helping employees feel secure enough to go back to the office -- and back to a semblance of normalcy. According to PwC's CFO Pulse, 41 percent of surveyed chief financial officers consider the pandemic's effects on their workforce to be a top-three concern.