Navigating The Future With AI TRiSM For Secure Innovation

Atal Bansal is the Founder and CEO at Chetu , a global U.S. based custom software solutions and support services provider. Artificial Intelligence (AI) is the buzzword everyone in the tech and business communities is talking about. “How can AI benefit my company? What new AI tools have been developed? Is AI going to put millions of people out of work?” These are frequent questions being asked.

As is often the case, businesses and governments have been slow to react to the impact of this technological paradigm shift. This is a common occurrence in history. For example, when the rideshare phenomenon exploded several years ago, taxicab companies and local governments reacted slowly to the disruptive innovation that turned the industry on its head.

The rideshare innovation, however, is different from the rise of AI, perhaps the most ground breaking technology since the Industrial Revolution. AI is seeping into every aspect of our lives, and so far, the tech industry and governments have yet to set comprehensive standards to regulate AI. Government’s Role In AI Regulation Right now, there are about 50 independent regulatory agencies that can address AI issues in a piecemeal fashion.

The Federal Trade Commission has authority over false and deceptive practices, such as AI deepfakes, while the Equal Employment Opportunity Commission oversees bias when companies use AI platforms to hire workers. In November, President Biden signed an executive order that establishes new AI standards for: • Safety and security • Privacy • Equity and civil rights • Consumer or workers’ protection • Innovation and competition Congress has passed bills related to AI in previous years, but as of June 2023, at least 40 bills focused on AI technologies have been introduced and have yet to be enacted.

At least three Senate AI legislative approaches are being worked on in the Senate . A bipartisan group in the House wants to set up a Blue Ribbon Commission to review the current approach to AI and make recommendations. What many of these proposed bills have in common is that everyone wants to encourage innovation while, at the same time, requiring transparency, accountability and security in the development of AI.

AI TRiSM Gartner , a technological research and consulting services company, coined the term "AI TRiSM"—AI Trust, Risk and Security Management, a framework that promotes trustworthiness, fairness, reliability, robustness, efficacy and data protection. AI TRiSM provides a comprehensive framework that helps companies develop and deploy AI systems safely, responsibly and ethically.

By embracing AI TRiSM, they can unlock the full potential of AI while minimizing potential risks and ensuring it has a positive impact on society. Gartner says more businesses will seek trustworthy companies to integrate AI into their IT systems and projects, and tech firms that adopt AI TRiSM will see a 50% growth in sales, business goals and user acceptance.

Here are the four pillars of AI TRiSM: Explainability makes it possible for users to understand and trust the results produced by AI technology, such as Machine Learning algorithms. ModelOps is the governance and operations of all AI and decision models, including Machine Learning. AI Application Security is the process of developing, integrating and testing security features in applications to guard against flaws and threats like illegal access and modification.

Privacy requires keeping data safe from breaches and protecting user information. AI TRiSM helps companies develop policies and procedures for collecting, storing and using data in ways that guard individuals' privacy rights. However, tech companies have legitimate challenges if they adopt the AI TRiSM framework.

Implementing AI TRiSM is a complex undertaking requiring financial resources and professionals skilled in tech like Explainable AI and Model Monitoring Tools. Once adopted, companies may still need to invest in technology, updates and training. Smaller companies may not have the resources to go this route.

Why Are Safeguards Needed? AI may eventually impact every aspect of our lives. Consumer and tech advocates have spoken out about the potential dangers of AI. We are not talking about AI overthrowing the world like in the Terminator movies but real concerns that worry people about AI: • consumer privacy issues • AI bias and discrimination • job loss • legal liability • security risks • ethical dilemmas • physical harm • social manipulation with disinformation and deepfakes • nefarious acts The Value In AI TRiSM Anyone who has used generative AI may have wondered where it found the answers to your query.

When you ask the AI tool to fact check its answers, it sometimes gives you the wrong sources or cannot find them. Consumer advocates want transparency in AI tools, allowing everyone to understand how AI came to its answer. Regarding consumer privacy, AI platforms require vast amounts of personal information, which could be used for identity theft.

Businesses must also guard against AI bias, which can lead to socioeconomic, racial and gender bias in everything from financing to employment, as well as data breaches, privacy risks and malicious cyberattacks. There are legal questions about who is liable if something goes wrong. There have also been fears that AI could cause major problems in financial markets, especially if AI bias is built into programs.

Bias in AI could create virtual redlining in real estate or deny mortgages to minorities. Data breaches seem to occur daily and not always by hackers. Fortune reported that a Microsoft AI researcher accidentally caused a data breach of 38 Terabytes of Microsoft information. The dangers can come from within or outside the organization.

Although many people think AI exists only in the virtual world inside a computer, companies are using AI in all types of products. We must remember that AI is like any other tool. You must know how to use it. AI is a useful tool across industries and can help streamline many processes to increase operational efficiency and reduce costs.

To effectively implement AI based solutions into your business, it is best to work with a trusted technology solutions provider that can develop and implement solutions to the specific requirements of the business. Doing so can take a business to new heights while enhancing the customer experience. Forbes Technology Council is an invitation only community for world class CIOs, CTOs and technology executives.

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