3. Bridging the Talent Gap The U.S. faces a significant shortage of AI-skilled professionals. Without proper training and development, employers risk falling behind in the race for AI innovation. Action Item: Partner with educational institutions or launch internal training programs to boost AI literacy and STEM skills within your organization. Track H-1B visa rules if you need foreign nationals to assist your work. 4. Risk Management Frameworks Are Essential AI introduces unique risks, from cybersecurity vulnerabilities to flawed decision-making. The Task Force emphasizes the importance of adopting AI risk management frameworks, such as the NIST AI Risk Management Framework, to mitigate these threats. Action Item: Develop and implement a comprehensive AI governance strategy. All companies should have appropriate governance and risk management policies and practices. The key is to develop the governance system, follow the system, and document your efforts. Regularly audit AI systems for compliance, accuracy, and resilience against potential threats. Review this 10-step plan inspired by Congressman Ted Lieu's talk at an FP AI Conference. 5. Sector-Specific Regulations Are Coming The report highlights that AI regulations will often be tailored to specific industries. Employers in sectors like healthcare, finance, and manufacturing must prepare for evolving compliance requirements. Action Item: Monitor regulatory updates specific to your industry. Engage with legal and compliance teams to ensure adherence to emerging AI standards. 6. Transparency Builds Trust Transparency in how AI systems are used is crucial, especially when decisions impact employees or customers. The Task Force underscores the need for clear communication about AI applications and outcomes. Action Item: Develop policies that explain the role of AI in decision-making. Provide employees and customers with transparent, accessible information about how AI impacts them. Be able to understand and explain what criteria AI systems use to make their decisions and how these systems derive their outputs. And comply with the state laws (such as the ones in Colorado and Illinois) that will soon require employer disclosures.
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