A governing body's role is to ensure that stakeholder needs, conditions and expectations, and options for AI are evaluated to determine balanced, agreed-on AI objectives. It sets direction through AI prioritisation, decision-making, risk optimisation, and architecture, frameworks, strategies and processes. Further, it ensures the use of data, the ethics, the performance of AI systems, and compliance are monitored against legal obligations and intended purposes.
AI governance is different from AI management. Governance of AI is the system by which a governing body exercises ethical and effective leadership. It enables the governing body to direct and control the enterprise's use of AI in line with its intended purpose. Leadership, organisational structure and processes are used to leverage AI resources and drive alignment, the generation of value, governance of risk, optimisation of resources, and performance measurement.
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