As businesses increasingly consider artificial intelligence tools to augment, supplement, or replace a variety of functions, it’s crucial to update risk-management frameworks to reflect best procurement practices. Failing to do so can lead companies to adopt what seems like an AI panacea, but is actually a Pandora’s box of regulatory enforcement and litigation risks. Businesses should look to the World Economic Forum’s guidelines for adopting AI responsibly and consider the following questions when procuring AI tools. Do I Understand the Data? AI tools can seem complicated, but they’re only as robust as the data they’re trained on. Businesses should seek assurances from their AI vendors o
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