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The Urgency for Enhanced Governance in Navigating the AI Landscape in 2024

In 2023, artificial intelligence (AI) gained significant popularity, with tools like ChatGPT becoming widely used. According to Bee Kheng Tay, President of Cisco ASEAN, the momentum of AI will continue to grow in the new year.

Tay believes that businesses in ASEAN will need to integrate AI into their organizations effectively in 2024, as AI evolves from a “nice-to-have” to a “must-have” technology. However, there is a significant gap across crucial business pillars from infrastructure to culture.

While the AI industry is projected to grow exponentially, the Cisco AI Readiness Index reveals that only 18% of organizations in ASEAN are fully prepared to deploy and leverage AI. Tay emphasizes the importance of addressing AI comprehensively, considering both the technological aspects and the human factor.

On being responsible

Tay also highlights the movement towards responsible and ethical AI, stressing the need for enhanced AI governance. She points out that only 36% of organizations in ASEAN claim to have highly comprehensive AI policies and protocols in place, and 21% lack systematic mechanisms to detect data biases.

As the AI revolution continues, Tay emphasizes the synergy between technology and human readiness as the key to unlocking the full potential of artificial intelligence in the ASEAN region in 2024.

Image Credit: RunwayML

The post Navigating the AI landscape in 2024: Why there is an urgency for enhanced governance appeared first on e27.

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