AI governance and risk management are crucial frameworks designed to ensure the responsible development, deployment, and oversight of artificial intelligence technologies. As AI becomes increasingly integral to various sectors, effective governance ensures that these systems operate ethically, transparently, and in compliance with relevant regulations. It addresses key issues such as bias, fairness, accountability, and privacy, ensuring that AI systems benefit society while minimizing potential harms. Risk management in AI involves identifying, assessing, and mitigating risks associated with AI technologies, from algorithmic bias to security vulnerabilities, to safeguard against negative impacts and promote trust in AI applications.

In this episode, we sit with Guru Sethupaty Co-founder and CEO of Fairnow. Guru talk about his extensive background in AI, detailing his journey from an AI enthusiast inspired by IBM's Deep Blue to his academic pursuits at Stanford and professional contributions at Capital One. The conversation delve into the critical aspects of AI governance and risk management, emphasizing the challenges enterprises face in integrating and scaling AI technologies while ensuring compliance and trustworthiness. Guru introduces Fairnow, which provides a platform to help organizations automate AI governance, manage risks, and comply with evolving regulations. Specific case studies, such as the Air Canada chatbot mishap, highlight the necessity for rigorous AI governance. Furthermore, they discuss the market dynamics, talent acquisition challenges in the AI sector, and the future landscape of AI governance.

If your company is looking to scale its AI initiatives, head over to Tesoro AI (www.tesoroai.com). We are experts in AI strategy, staff augmentation, and AI product development.

Founder Bio:

Guru Sethupathy has dedicated nearly two decades to understanding the impact of powerful technologies, such as AI, on business value, risks, and the workforce. He has written research papers on bias in algorithmic systems and the implications of AI technology on jobs. At McKinsey, he advised Fortune 100 leaders on harnessing the power of analytics and AI, while managing risks. As a senior executive at Capital One, he built the People Analytics, Technology, and Strategy function, leading both AI innovations as well as AI risk management in HR. Most recently, Guru founded a new venture, FairNow. FairNow’s AI governance software reflects Guru’s commitment to helping organizations maximize the potential of AI while managing risks through good governance. When he’s not thinking about AI governance, you can find him on the tennis court, just narrowly escaping defeat at the hands of his two daughters. Guru has a BS in Computer Science from Stanford and a PhD in Economics from Columbia.

Time Stamps:

01:59 Guru’s background and journey into AI

06:17 Implications of AI in the enterprise world

09:24 Challenges in AI adoption

11:03 Founding of Fair Now

13:18 Fair Now's governance platform

15:09 Governance and compliance examples

19:18 Modules and customer engagement

21:49 AI integration: understanding compliance and regulations

24:46 Building the engineering and data science team

27:54 Navigating talent acquisition challenges

31:00 Strategies for enterprise sales

34:09 The future of AI governance

38:26 Future directions and how to get in contact with the Fair Now AI team

Resources

Company website: https://fairnow.ai/

LinkedIn: https://www.linkedin.com/company/fairnowai/

Twitter: https://x.com/FairNow_AI

Ensuring Trust and Compliance in AI | Guru Sethupathy, Fairnow AI