AI use in business grew by an incredible 595% in 2024. Organisations everywhere must find ways to make the most of AI’s potential while keeping their systems ethical, secure, fair… and compliant for pending regulation.

Here is how companies can strike that balance by focusing on four key steps:
❇️ Using high-quality data to limit bias and security risks.
❇️ Making sure AI decisions are clear and transparent.
❇️ Including human oversight to keep AI aligned with ethical values.
❇️ Continuously reviewing AI systems to stay ahead of evolving risks and rules.

Compliance should never hold back innovation.

In Africa, countries like Kenya, Nigeria, and South Africa are actively shaping AI policies inspired by international standards such as the EU’s AI Act. This Act aims to eliminate risky AI practices and regulate high-impact uses. The African Union is also promoting a continent-wide AI strategy focused on ethics and inclusivity to guide responsible AI growth.

Adopting good governance early on allows companies and regulators to turn compliance into a competitive strength!

Read Article: Risk Management Magazine – Balancing Innovation and Compliance When Implementing AI