When generative AI regulations happen, will your business be ready?

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Is your business considering the adoption of Generative Artificial Intelligence (GAI) tools? Join the many clamoring for ways to integrate AI technologies into their products or services or leverage them into business operations. Many are exploring the potential of GAI to enhance efficiency and boost productivity across varied operations from marketing to data analytics. Yet, apprehensions persist regarding the societal implications of AI, compelling some to call for regulatory oversight of GAI.

Here’s what you need to understand:

Regulatory actions are beginning to emerge in regions including the European Union and the United States, potentially leading to rapid and diverse policy changes. As a decision-maker, it’s vital to grasp the impact of GAI on your collaborations with other businesses and customer interactions.

Immediate steps for your organization:

Assess the spectrum of GAI offerings in the market, evaluating their potential contribution to your business. Decide whether in-house development or third-party collaborations would suit your tech stack. Stay vigilant about potential risks.

“Being cognizant of how you plan to implement generative AI and the associated risks is crucial,” says Danielle Gilliam-Moore, director, global public policy at Salesforce.

In brief:

The GAI landscape is rapidly evolving, with regulators striving to comprehend its implications for businesses and the public. Notable developments include industry leaders warning about unregulated AI, Google and the EU’s proposed “AI pact”, the revival of old laws to address AI privacy and safety, and the White House signaling support for AI legislation.

The backdrop to GAI regulations:

Artificial Intelligence has sparked concerns around job displacement, societal inequality, bias, and security for years. The public introduction of ChatGPT in November 2022 raised additional issues such as data privacy, copyright infringements, misinformation, identity verification, and child protection. These issues have prompted worldwide regulatory scrutiny of how GAI tools collect data and generate results.

The potential considerations for businesses:

Companies need to understand how these tools and regulations will impact their operations. Data sources, usage, customer protection, and transparency are crucial considerations. Whether you’re developing technology or interacting directly with consumers, seek legal advice knowledgeable about GAI regulations.

The role of an acceptable use policy and data provenance in ensuring compliance cannot be overstated. “Without data, none of this functions,” remarks Gilliam-Moore.

Compliance strategies for small businesses:

While large corporations can invest in research and development around compliance, smaller businesses must rely on thorough questioning of vendors and tech partners. Questions about GDPR compliance, industry-specific law adherence, acceptable use policy, certifications, data handling, and technology deployment safeguards should be front and center. Growing companies must remember to trust, but verify.

At BOFUlab, we stay attuned to generative Artificial Intelligence laws and regulations to position these AI tools to drive marketing initiatives AND protect your brands from AI abuse.

Start generating demand today!