AI Connect Forum Explores Strategic Implications and Governance of Artificial Intelligence
The AI Connect Forum, a joint initiative by Tapestry Networks and Clifford Chance, has been tackling the strategic implications and governance of artificial intelligence (AI). Although Google has dominated the search market, participants in the forum doubt that a similar level of domination will occur with AI models, despite the growth of OpenAI.
The adoption of generative AI varies among companies, with some deploying it at scale, others proceeding cautiously, and a few very large firms not utilizing it at all. Risks associated with AI include data governance and privacy concerns, cyber threats, and potential bias, opacity, and reputational damage.
In 2023, Tapestry Networks, in collaboration with Clifford Chance, launched the AI Connect Forum to address the strategic implications and concerns surrounding AI. The discussions within the forum have focused on social, ethical, policy, and governance issues, resulting in a comprehensive report titled “Assessing the State of Artificial Intelligence.”
Devika Kornbacher, Partner and Co-Chair of the Global Tech Group at Clifford Chance, emphasized the dynamic challenges that organizations face when dealing with AI. Kornbacher stressed the importance of balancing technology advancements with critical concerns such as data governance and cybersecurity. The AI Connect Forum aims to foster board-level discussions on how to harness AI technology while responsibly navigating the regulatory landscape.
The report identifies the key players in large-scale AI, including those involved in hardware, foundation models, data infrastructure, and AI applications. It highlights the varying rates of AI adoption among companies and the concerns over risks such as data governance, privacy, and intellectual property infringement. Companies are beginning to develop governance frameworks for AI, integrating oversight into board-level risk management. The report also raises concerns about the role of public policy and regulation, suggesting that the U.S. may lag behind Europe in setting policy and expressing fears of policymakers striking poor balances between regulation and development.
Tapestry Networks and Clifford Chance emphasize their roles in facilitating discussions and finding solutions for the challenges presented by rapid technological advances. Through collaboration platforms and expert legal advice in tech-related matters, the organizations acknowledge the impact of these advances on business models and strategies.
Analyst comment
Neutral news: The AI Connect Forum, launched by Tapestry Networks and Clifford Chance, has been addressing the strategic implications and governance of AI. The forum discusses the adoption of generative AI, risks associated with AI, and the need for governance frameworks. The report highlights varying rates of AI adoption and concerns about data governance, privacy, and regulation. The organizations aim to foster board-level discussions to responsibly harness AI while navigating the regulatory landscape. No specific market impact is mentioned.
