Davos 2024: WEF’s new reports underscore significance of AI governance

Highlighting the importance of more responsible use, inclusive access and more
Davos 2024: WEF’s new reports underscore significance of AI governance
AI is a key topic at Davos 2024

AI Governance Alliance (AIGA), one of the initiatives launched by the World Economic Forum (WEF), has released insightful reports about advanced artificial intelligence (AI), coinciding with Davos 2024.

AIGA brings together leaders from businesses, governments, universities and community organizations. Their goal is to support the development and launch of AI systems that are responsible, open and fair for everyone.

Insightful paper series

The reports released by AIGA address several critical areas. In the report “Generative AI Governance: Shaping Our Collective Global Future,” the highlight is on international cooperation. It also urges a more inclusive access to AI — both in terms of development and deployment. The paper further assesses national strategies while discussing debates on generative AI. In addition, it promotes international standards to avoid fragmentation.

Meanwhile, “Unlocking Value from Generative AI: Guidance for Responsible Transformation” guides stakeholders on how to adopt generative AI more responsibly. Particularly, it highlights use case evaluation, multistakeholder governance and transparent communication. The paper also advocates for value-based management for responsible organizational integration.

Lastly, the “Presidio AI Framework: Towards Safe Generative AI Model” underscores the need for a framework that standardizes model lifecycle management. It also focuses on shared responsibility and proactive risk management.

Read: What are the global digital economy trends in 2024?

AIGA’s role

“The AI Governance Alliance is uniquely positioned to play a crucial role in furthering greater access to AI-related resources, thereby contributing to a more equitable and responsible AI ecosystem globally,” said Cathy Li. She is the head of AI, Data and Metaverse at WEF. 

She added, “We must collaborate among governments, the private sector and local communities to ensure the future of AI benefits all.”

AIGA further encourages experts to tackle challenges like enhancing data quality and availability worldwide. The alliance also calls for improved access to computational resources and tailored foundational AI models to meet specific regional needs. 

Commenting on the importance of AI, H.E. Omar Sultan Al Olama, said, “As we witness the rapid evolution of artificial Intelligence globally, the UAE stands committed to fostering an inclusive AI environment, both within our nation and throughout the world. Our collaboration with the World Economic Forum’s AI Governance Alliance is instrumental in making AI benefits universally accessible, ensuring no community is left behind.” He is the country’s minister of State for Artificial Intelligence, Digital Economy and Remote Work Applications.

“We are dedicated to developing a comprehensive and forward-thinking AI and digital economy roadmap, not just for the UAE but for the global good. This roadmap is a testament to our belief in AI as a tool for universal progress and equality, and it embodies our commitment to a future where technology serves humanity in its entirety,” he further enthused.

For more technology news, click here.

The stories on our website are intended for informational purposes only. Those with finance, investment, tax or legal content are not to be taken as financial advice or recommendation. Refer to our full disclaimer policy here.