Fiduciary Engagement in Artificial Intelligence Innovations: A Governance Imperative
For most health and life sciences companies, investing in and deploying AI technology is expected to be a critical strategic component for the foreseeable future. Effective and ongoing governance oversight of AI will be a major organizational concern for businesses, and the governance framework itself must reflect and be able to accommodate the highly dynamic nature of AI. Establishing a framework for board decision-making and oversight at the earliest possible stage in the development and implementation of an organisation’s AI strategy will go a long way in helping the board perform its fiduciary duties, thereby increasing the trustworthiness and chances of success of the AI initiatives.
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Originally published in the June 2021 edition of Health Law Connections, published by the American Health Law Association.