Principles form the foundation of any AI governance strategy. At DigiFutures we created the FAST AI principles for the responsible and ethical use of AI. We prepared these principles by reviewing various existing and emerging frameworks and regulations. All these frameworks had a few core items in common and so we created the FAST periodic table for responsible AI principles.

The first element is F, and stands for Fairness. This is to ensure that AI is fair to everyone who uses it and no individual or group is adversely affected. We have to ensure that AI respects our human-centric values and is inclusive in its accessibility.

The second core element is A, and stands for Accountability. You are accountable for how AI is built and used within your organisation. Furthermore you are also responsible for the downstream impact that AI might have on stakeholders directly or indirectly. You have to continuously monitor the impact AI has on people, business, and society as a whole and actively report and engage with impacted stakeholders.

The third element is S, and that stands for Safety. It is vital that AI technologies is safe to use and that means it respects our data privacy and it is secure. It is also aware of any regulatory or compliance requirements. In essence it ensures that AI is resilient and reliable throughout its life cycle.

Lastly we have T, and that is for Transparency. We have to be transparent about how AI is built and used. We must be able to explain how AI does what it does. We also have to be open to receiving feedback when things go wrong and learn from that in order to make it right.

There are numerous sub elements underneath each of our core FAST AI principles, and these have been incorporated into our AI governance accelerator.

So no matter where you are on your AI governance journey, be sure to start with a good set of principles as this forms the cornerstone of your governance strategy.