Adopting AI/ML systems brings numerous benefits but also presents significant risks that must be managed through effective AI governance. Here’s a concise overview of how organizations can manage these risks: 1. Establish Clear Ethical Guidelines Develop a Code of Ethics: Define principles and values guiding AI/ML development and deployment, such as fairness, transparency, and accountability. Regular Training: Ensure all stakeholders understand and commit to these guidelines through regular training sessions. 2. Implement Robust Data Management Practices Data Quality: Ensure the data used is accurate, complete, and relevant to prevent biased or misleading outcomes. Privacy Protection: Adhere to data privacy laws and best practices, such as anonymizing personal data and obtaining explicit consent. 3. Ensure Transparency and Explainability Model Interpretability: Use models that can be easily interpreted and understood by non-experts to foster trust and accountability. Documenta...