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26 Sep 2024

Securing the Future: How Legal Teams Can Lead the Charge in GenAI Governance

Securing the Future: How Legal Teams Can Lead the Charge in GenAI Governance

Securing the Future: How Legal Teams Can Lead the Charge in GenAI Governance

As businesses race to adopt generative AI (GenAI) technologies, corporate legal teams find themselves at the center of a new and complex landscape. GenAI tools promise transformative benefits: Automating tasks, enhancing decision-making, and driving innovation. However, these powerful capabilities also introduce new risks, especially around data privacy, regulatory compliance, and ethical governance. For general counsels (GCs), chief legal officers (CLOs), chief compliance officers (CCOs), and other legal leaders, understanding how to navigate these risks is essential to protecting the organization while supporting AI-driven innovation. That's where our latest eBook, Corporate Counsel's Handbook: Navigating Security in the GenAI Era, can provide sound recommendations for anyone guiding their enterprise through this evolving AI landscape.

Why Governance Matters in the GenAI Era

GenAI is reshaping industries, but without proper governance, these AI tools can also expose organizations to significant legal and regulatory risks. Corporate legal teams must be prepared to implement governance frameworks that ensure compliance and safeguard the organization from potential liabilities. The eBook explains how a well-structured internal governance framework can help mitigate the unique challenges posed by GenAI. One key recommendation is to establish clear leadership and accountability structures, such as a cross-functional AI steering committee,  where corporate counsel and other C-suite executives collaborate to guide the organization’s AI strategy. Such a committee can ensure AI initiatives align with legal, ethical, and regulatory standards from the start.

Data Privacy and Regulatory Compliance

With GenAI’s reliance on vast amounts of data, the question of data privacy is front and center. Legal teams must navigate a complex global regulatory environment that includes stringent laws, such as the General Data Protection Regulation (GDPR) and the California Consumer Privacy Act (CCPA). The eBook underscores the importance of ensuring that AI systems comply with these laws by incorporating data privacy controls at every stage of development and deployment. Whether it’s managing third-party data used for training models or auditing AI tools to ensure compliance, the Legal department’s role in monitoring and enforcing data privacy measures is critical.

Risk Management and Ethical AI

Risk management is the heart of GenAI governance. From identifying potential legal liabilities related to intellectual property and data breaches to mitigating the risk of bias in AI decision-making, our eBook provides key strategies for managing risks effectively. Ethical concerns, such as algorithmic bias or AI-generated outputs that lead to unintended discrimination, are also addressed, and we include practical steps for legal teams to take, including regular audits and establishing responsible AI principles. The eBook advocates for a proactive approach, where legal teams are continuously involved in reviewing AI systems to ensure transparency and accountability.

Prepare Your Organization for the Future 

The adoption of GenAI is inevitable, but doing so without the proper governance framework in place can open your organization to unnecessary risks. For GCs, CLOs, CCOs, and other leaders, staying ahead of these challenges is critical to the success of AI implementation across the enterprise. To learn more about building robust governance structures, ensuring compliance with global regulations, and managing the risks associated with GenAI, download the full eBook, Corporate Counsel's Handbook: Navigating Security in the GenAI Era.

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