McGuireWoods’ Adam Penman Speaks to Raconteur About Mitigating Risks of AI

October 31, 2023

Companies implementing artificial intelligence should closely monitor how it is used as a safeguard against future regulations, McGuireWoods London associate Adam Penman told Raconteur in an Oct. 24, 2023, story

The rapid development of new AI applications is outpacing legislators’ ability to regulate them, forcing businesses to weigh the promise of early AI adoption against the risks of racing ahead of laws still being debated and drafted, according to Raconteur’s special report, published in partnership with The Times.

Penman told Raconteur that chief technology officers should audit AI usage periodically. If new tools are introduced, existing tech is modified or using AI becomes a high-risk activity, those audits and risk assessments should be updated.

“Demonstrating and documenting prudent steps to mitigate risk and harm will shield a business, at least in part, from punitive regulation,” Penman said.