FROM: Joe Michael, Chief Information Officer
SUBJECT: Artificial Intelligence Policy
RECOMMENDATION:
title
Recommend that the Board adopt Administrative Policy No. 023 (Artificial Intelligence).
body
BACKGROUND:
In an era where artificial intelligence (AI) is transforming industries and redefining best practices, it is essential for SBCERA to adopt a comprehensive AI policy. This policy will establish clear governance over AI technologies, ensuring their ethical and responsible use. By setting a framework for AI adoption, the policy will address potential data security, bias, transparency, and accountability concerns. It will provide a unified standard that guides the organization, fostering trust and confidence in AI-driven processes while mitigating risks.
Moreover, the implementation of an AI policy will enable the organization to pursue innovative AI initiatives that align with its strategic goals. With proper governance, we can harness AI to enhance operational efficiency, streamline decision-making, and create tailored solutions for our membership. By leveraging AI responsibly, the organization will improve service delivery and position itself as a forward-thinking leader. These initiatives can have long-term value, enhance member engagement, and strengthen the organization's use and flexibility of technologies.
Finally, pension systems that fail to establish governance risk falling behind in adopting technologies that enhance their systems and services to their membership. With a formal AI policy, we can identify opportunities for AI deployment, foster innovation, and ensure alignment with ethical principles and regulatory standards. This proactive approach will not only maximize the benefits of AI but also safeguard the interests of the organization and its members, laying the foundation for continued technological growth and success.
COMMITTEE REVIEW:
This item was reviewed by the Administrative Committee at its January 16, 2025 meeting...
Click here for full text