Risk Registers Must Include AI
Media Release: NuEnergy – AIG and MTP for Boards Project (click to download)
Toronto, ON, December 6, 2022:
The pioneer in AI governance, NuEnergy.ai, announced today that board members and senior corporate leaders may now engage with its exclusive AI governance solutions. These solutions include AI Governance education for directors, guidance on AI Governance framework development, and access to its software, the NuEnergy Machine Trust Platform (MTP), to govern AI with board dashboards.
As the need for AI governance becomes increasingly critical, NuEnergy.ai is challenging board members to consider this question: “Does your Risk Register include AI Governance?” With a solution tailored to Boards, NuEnergy seeks to ensure that Risk Committee members in particular, and corporate decision makers more broadly, are balancing awareness of the potential that AI presents for their organizations with mindfulness of the risks involved, which already today include threats to privacy and security as well as possible ethical issues.
With appropriate AI governance practices, boards and organizations build trust and protect against risk. According to Niraj Bhargava, Co-founder and Executive Chairman of NuEnergy.ai, “Board leaders should be building on their approach to cyber risk, establishing comparable practices now for AI. Boards need to be discussing how to incorporate AI Governance and Data Governance into their risk management strategies, and getting guardrails in place before it’s too late.” He adds, “’Board agendas are full, but with the opportunity and risks inherent in any AI, time must be allocated to ensure they are prepared to equip the organizations they govern for the pace of technological change.”
In December, a cohort of board leaders from the Chartered Professional Accountants of Canada (CPAC) attended the 2022 Conference for Audit Committees and Corporate Governance and participated in an education session and panel led by Niraj Bhargava and facilitated by Mardi Witzel. These leaders came away with a deeper recognition of their need to act now to build AI-specific governance early.
Connie Carras, CPA, CA, Board Chair at EnerQuality Corp, Board Director and Risk Committee Chair at Canlan Sports (ICE.TO), and Board Director at ZenniHome Holdings Inc. (US), praised the approach, saying, “Today’s boards need to recognize that effective adoption of advanced data strategies and AI will drive long term organizational growth and sustainability regardless of their industry. Business has always moved at the speed of trust and now that must include their AI. Platforms like NuEnergy.ai can support effective AI governance, provide timely board director education, a configurable dashboard platform, and the infrastructure to advance trusted AI.”
NuEnergy’s tailored and personalized executive education program is designed to expand participants’ awareness of AI, teach the fundamentals of AI governance, and help to create a roadmap for ethical AI for firms. The education program is provided by NuEnergy’s diverse team of globally respected faculty members and thought leaders, which includes leading AI and governance experts, experienced entrepreneurs, business professionals, technical specialists and partners.
The NuEnergy MTP software is designed to support the ethical and transparent governance and measurement of artificial intelligence (AI) deployments. The MTP is a Canadian tech innovation that gives organizations configurable one-stop access to qualified, globally-sourced AI governance measurements and assessments. It measures essential trust parameters including privacy, ethics, transparency, and bias and protects against the risks of AI drift, presenting the results in dashboards with key drill down elements for board oversight. Global standards, including the Government of Canada Algorithmic Impact Assessment (AIA), are integrated into the platform, which can be customized to include other relevant governance standards.
With a distributed team based in Ottawa, Waterloo, Toronto, Montreal, and Vancouver, NuEnergy.ai focuses exclusively on providing the education, frameworks, and tools that companies and governments need to properly govern, manage, and mitigate the risks of their growing deployments of AI.
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About NuEnergy.ai
NuEnergy.ai is a Canadian Artificial Intelligence management software and professional services firm that helps build guardrails for organizations that develop or deploy AI to mitigate risk and maintain trust. The team co-creates AI Governance frameworks with clients based on leading international principles and standards, then openly and transparently integrates its ‘machine trust’ measurement and qualified software techniques built on a patent-pending methodology. An independent AI Governance company, NuEnergy.ai is pre-qualified for the Government of Canada’s ISC Program and the TBS/PSPC AI Source List, and integrates the Treasury Board directive – Algorithmic Impact Assessment (AIA) – into its platform for clients. Learn more at https://nuenergy.ai/.
Media Contact
Nitish Bhardwaj
NuEnergy.ai