Sixty per cent of CEOs are addressing AI governance concerns by appointing generative AI champions within their businesses, amid concerns around the accuracy and bias of AI technologies according to a report by IBM.

The study, conducted in partnership with Oxford Economics, surveyed 5,000 executives from 24 countries across North America, Latin America, Europe, the Middle East, Africa, and Asia, indicate that although AI governance practices are evolving, there is still significant room for improvement.

Despite the rising concerns, only 21% of executives reported their organisations AI governance efforts were either systemic or innovative, highlighting the significant gaps that still exist.

The study indicated 78% of executives prioritise robust documentation of AI processes to ensure explainability, and 74% conduct ethical impact assessments.

This shift toward appointing generative AI champions is particularly evident in more technologically mature organizations, where AI governance is integrated from the design phase, rather than being an afterthought.

According to the survey, 68% of CEOs from these organisations emphasise that governance must be part of the AI development process from the very beginning.

Irena Poncar, Director of Information Security at Ataccama said: “AI governance is a critical requirement for managing the development, deployment and ethical use of AI technologies. This is a process which requires companies to nurture a culture of data and AI hygiene through clear policies and reinforced security measures.

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“Businesses should establish an AI Governance Committee to oversee AI initiatives, the deployment of tools, and usage to prevent unintentional misuse or risky behaviour. Educating employees on safe AI use and promoting early adoption of approved tools is central to mitigating risk and providing flexibility as technology and its use cases evolve.

“AI governance is a shared responsibility and done properly, will unify data protection and governance capabilities. This ensures businesses can leverage AI to power efficiencies and accelerate outcomes for growth, customer success, and compliance, rather than being a potential significant threat.”