Recent advances in artificial intelligence (AI) are creating unparalleled opportunities for businesses to increase productivity, automate tasks, and analyse data. However, adopting such technology also presents challenges, particularly in the areas of data governance, privacy, and security. For organisations looking to capitalise on the potential of AI and remain competitive in this rapidly changing landscape, robust data management is no longer optional; it is simply a necessity.

This project seeks to explore the data governance implications of deploying AI, taking into account the risks and possible strategies for mitigating them. The work includes conducting desk research to analyse the industry situation and identify trends, as well as to address relevant frameworks and legislation to determine best practices, particularly in the banking sector. The implementation of AI brings with it a new level of cyber threats, which must also be considered in data handling. In addition, a range of other impacts of AI adoption, such as ethical concerns, were examined.

As a result, the project developed actionable recommendations for data management to facilitate the adoption of AI and to leverage its full potential in an ethical and responsible manner, while managing risks and ensuring alignment with relevant frameworks and best practices.