Nearly half of CEOs are concerned about accuracy and bias when it comes to AI, according to a new survey by the IBM Institute for Business Value on AI governance.
The survey also found that 21% of executives said their organization’s maturity around AI governance is systemic or innovative, a new survey by the IBM Institute for Business Value on AI governance has found – highlighting significant room for improvement.
The Institute, in partnership with Oxford Economics, surveyed 5,000 executives from 24 countries across North America, Latin America, Europe, Middle East, Africa and Asia.
Governance refers to the principles, policies and responsible development practices that align AI tools and systems with ethical and human values. According to the survey, nearly half of CEOs said they are concerned about accuracy and bias when it comes to AI.
To address these concerns, 60% of C-suite respondents have placed clearly defined generative AI champions throughout their organization. Meanwhile, 78% of executives said they maintain robust documentation, indicating they are concerned about explainability.
A further 74% conduct ethical impact assessments, while 70% carry out user testing for risk assessment and mitigation.
A large majority (80%) of C-suite executives said they have a separate risk function dedicated to using AI or generative AI.
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