Artificial Intelligence (AI) is rapidly expanding and gaining new capabilities. Companies are leveraging it to boost efficiency and productivity through massive data analysis, enhanced customer service, and task automation, among other benefits.
However, this progress brings both challenges and opportunities that require proper governance. For this reason, on April 23, BH Compliance hosted the webinar “AI Governance: The Key to Facing a New Era,” which explored how to implement responsible corporate AI governance. The webinar encouraged companies to focus on AI’s advantages, implement it responsibly, and manage its inherent risks.
The panel featured María Francisca Yáñez, Board Director; Andrés Williamson, Director of AWN Advisors LLC; and Tomás Undurraga, Subdirector of Legal and Compliance at BH Compliance. Susana Sierra, CEO of BH Compliance, moderated the session.
The conversation covered general and specific aspects of AI to highlight the importance of solid governance frameworks. María Francisca Yáñez began by defining AI and comparing its impact to the Industrial Revolution—bringing profound political, social, and economic changes. However, she noted that AI’s benefits won’t be evenly distributed, as access remains a significant challenge, with countries like the U.S. and China already leading the way. She also emphasized that AI should be viewed as a work team member—a complement rather than a replacement for human professionals.
Next, Tomás Undurraga delved into the risks of AI to better understand and manage them. He categorized them into two types: development risks and usage risks. Development risks include algorithmic bias, intellectual property violations, data privacy concerns, lack of monitoring and updates, and insufficient transparency. Usage risks include amplified bias, inaccuracy or hallucinations, personal data breaches, third-party risks, IP issues, and cybersecurity threats.
Finally, Andrés Williamson explained that AI governance provides the structure to develop, implement, and monitor AI systems within organizations. It aims to foster trust and transparency, ensure compliance with regulations and standards, mitigate risks, and guarantee ethical and responsible use. Key principles of effective AI governance include transparency, fairness, privacy and safety, reliability, human oversight, and accountability.
The session concluded with a Q&A, where the panel addressed attendees’ questions.
We invite you to watch the full webinar.
