A lack of accountability within the private sector will lead to governments taking over responsibility for AI regulation over the next five years, according to new research by Pegasystems. The global study, conducted by research firm iResearch, surveyed 1350 C-level executives across several different industries to examine how growing trends such as artificial intelligence (AI) governance and hyper automation are expected to evolve.
Other keys findings from the survey include:
- Three quarters (65%) of respondents feel the current level of external AI governance isn’t sufficient to manage its explosive growth.
- Over a quarter (27%) of respondents report they have no designated AI governance leader and only 25% are managing a formal policy at the C-suite level.
- More than half (52%) of respondents say the pandemic has forced them to identify more opportunities to infuse automation into their businesses.
- Only 32% of respondents see hyperautomation helping their business improve workflow and case management, but this number almost doubles to 61% when asked to look five years ahead.
- 58% of respondents cite integration with existing legacy systems as the biggest automation challenge, while 40% point to compatibility with third-party technologies as their biggest concern.
The full report is available here.