OpenAI has called for regulation of ChatGPT, prepare for AI audits in anticipation

OpenAI CTO Mira Murati has made it clear that AI tools such as ChatGPT should be regulated. She believes that it is important for companies, regulators, and governments to get involved in order to understand the impacts of these technologies. Andrew Burt, the managing partner of BNH AI, a boutique law firm that focuses on AI and analytics, believes that AI regulation is coming quickly and will often require AI audits. Organizations should be preparing now for these audits by creating a program for AI risk management and adhering to the NIST AI risk management framework. This framework includes mapping and measuring the risks of AI, managing and reducing those risks, and governing the policies and procedures across the enterprise. Companies should invest in managing the risks of AI as it could open them up to potential lawsuits, fines, and reputational damage if they are not aware of these risks.