Preparing for the future: How organizations can prepare boards, leaders, and risk managers for artificial intelligence

Abstract

Artificial Intelligence (AI) is the notion of machines mimicking complex cognitive functions usually associated with humans, such as reasoning, predicting, planning, and problem-solving. With constantly growing repositories of data, improving algorithmic sophistication and faster computing resources, AI is becoming increasingly integrated into everyday use. In healthcare, AI represents an opportunity to increase safety, improve quality, and reduce the burden on increasingly overstretched systems. As applications expand, the need for responsible oversight and governance becomes even more important. Artificial intelligence in the delivery of healthcare carries new opportunities and challenges, including the need for greater transparency, the impact AI tools may have on a larger number of patients and families, and potential biases that may be introduced by the way an AI platform was developed and built. This study provides practical guidance in the development and implementation of AI applications in healthcare, with a focus on risk identification, management, and mitigation.