Semprini

• Semprini
• March 25, 2022
• 0

Ya know, if your Data, AI and Tech Governance is not making your organisation faster, and less risky, then you're doing it wrong.

Standards are a governance superpower, open to all - and they benefit everybody.

If your organisation finds itself chasing its tail, with those expected "quick wins" or "low hanging fruit" not turning out to be either quick or low hanging, then I'll bet you're not taking advantage of standards.

Take an example, say Finance.

The Reserve Bank has adopted ISO 20022 which provides a common global language for payments. A Financial Services organisation must be able to understand this to send data to the regulator - so if your new fraud detection system says ISO 20022 on the tin, or you adopt the standard for payment analytics, or AI algorithms then the definitions are clear, the results are accurate, and consistent, and the work happens faster.

All professionals should love standards too. If you're new to an organisation then by knowing the standards the company has adopted, you will hit the ground running and look like a superstar.

I often find governance used as a bottleneck to progress. This is wrong. Instead, leverage internationally recognized standards, such as ISO 27001 and ISO 42001 and accelerate the pace of change.

Your new AI initiative for example, is more likely fail without good standards for your AI & data governance.

Now, of course your organisation has a "special sauce" which makes you unique, but that's 20% of what's going on in the company. The other 80% is standard - so to out compete and give yourself more time to work on that special sauce, you need to make that 80% as smooth as possible.

What’s unique about standards is that they mature - I.e. less change over time, while keeping up with industry changes.

This stability provides a crucial advantage: the more we standardise process, the less friction we face when implementing change. This means you become faster and more agile through governance, not in-spite of it.